U.S. Energy Development Corp., an exploration and production company focused on the development of energy projects throughout North America, has made a joint acquisition with EagleRidge Energy.
Under the new joint venture agreement, the companies plan to drill up to 12 horizontal wells over the next year in the Barnett Shale region — primarily located in Wise, Denton and Johnson counties in Texas.
“We are very pleased to announce the joint acquisition of existing natural gas production with EagleRidge, along with our plan for future horizontal development in the Barnett Shale play,” said Jordan Jayson, chairman and CEO of U.S. Energy. “This partnership allows us to expand and diversify our resources and manpower into the Fort Worth Basin, while natural gas prices remain elevated.”
EagleRidge Energy is a major player in the 16-county Barnett Shale area of North Texas, which includes the operation of more than 2,300 wells across 330,000 gross acres. U.S.
