U.S. Energy Development Corporation Upsizes Borrowing Base

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Nov 22, 2021, 08:00 ET

ARLINGTON, Texas, Nov. 22, 2021 /PRNewswire/ -- U.S. Energy Development Corporation (U.S. Energy), an exploration & production (E&P) firm that provides direct investments in energy, announced today that it has increased its master borrowing base with Washington Federal Bank to $75 million.

"We are grateful for our continued partnership with Washington Federal," said Jordan Jayson, CEO of U.S. Energy. "This increased borrowing base provides U.S. Energy with additional capacity to acquire more high-quality assets in our core focus areas."

U.S. Energy primarily invests in projects across the Permian Basin, Eagle Ford, as well as the DJ and Powder River Basins. The firm has invested upwards of $135 million in the core of the Permian Basin this year alone, with plans to invest an additional $400 million in projects located in these core areas over the next two years.

About U.S. Energy Development Corporation
Rooted in deep experience as a privately held oil and gas operator dating back to 1980, U.S. Energy Development Corporation blends operational and financial innovation with a forward-looking approach. Over the past 41 years, the firm has invested in, operated and/or drilled more than 2,400 wells in 13 states and Canada, and has deployed more than $1.6 billion on behalf of its partners. Today, U.S. Energy is one of the largest sponsors of direct energy investments. More information is available at http://www.usedc.com/.

SOURCE U.S. Energy Development Corporation