U.S. Energy Development Corporation (USEDC)had one heckuva 2024. The Fort Worth-based E&P with oil and gas projects in the nation’s most prolific basins has become an acquisition machine, closing 29 transactions last year and committing $850 million to operated and non-operated assets in the Permian alone. Now 45 years after its formation, USEDC has inked its largest deal ever with all the bells and whistles a producer can buy these days when assets lie smack dab in the Delaware.

Reese Energy Consulting today is following the latest news from U.S. Energy Development, which has snapped up 20,000 net acres in Reeves and Ward counties, Texas, from an undisclosed seller for $390 million. “Significant” might be the most apt word to describe this acquisition, further expanding the company’s Permian position and adding multi-year drilling inventory. Then there’s the $1 billion in capital investment—the largest in its history dedicated to a single basin, and the basin it recognizes as one of the best for predictable productivity and returns.