Founded in 1980, U.S. Energy Development Corporation (U.S. Energy) is a privately held exploration and production (E&P) firm that manages assets for itself and its partners. For more than four decades, U.S Energy has blended operational and financial innovation with a forward-looking approach. U.S. Energy has invested in, operated and/or drilled approximately 4,000 wells in 13 states and Canada and deployed more than $2 billion on behalf of its partners.
Joseph and Judy Jayson formed U.S. Energy Development Corporation as a successor to Oilmark & Company, Inc., which was founded in 1978. Both companies were successful operators of oil & gas wells located throughout the Appalachian Basin in Western NY and Northwestern PA.
The company begins to drill wells outside of the Appalachian Basin and expands into new areas including Texas, Louisiana, Kansas, and the province of Ontario, Canada. During this time, U.S. Energy is also growing through the acquisition of existing wells utilizing a disciplined investment strategy focused on risk mitigation, economic performance, and tax advantages.
Positioning for the Future
Increases in world-wide oil and gas prices result in more demand for capital for the oil & gas industry. During this time, U.S. Energy expands its operations by adding additional joint venture partners, increasing its acreage positions, and bolstering its field and corporate staff. The company positions itself for the future energy needs of America.
The Shale Revolution
Technological advances in horizontal drilling and hydraulic fracturing, create additional opportunities for oil & gas development throughout the United States. U.S. Energy continues a rapid expansion in shale formations in Texas, Oklahoma, North Dakota and Pennsylvania.
Today, you can find U.S. Energy actively involved in operated and non-operated acquisitions of producing oil & gas wells and undeveloped acreage throughout the United States, with recent operations focused on the Eagle Ford Shale, Powder River Basin and the Permian Basin.