U.S. Energy Development Corp
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(Buffalo firm expands into the Marcellus shale through acquisitions)
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Revision as of 22:44, 17 January 2011
Getzville, New York-based U.S. Energy Development Corporation is an independent oil and gas exploration and production company that is active in several states as well as Canada. It is headquartered near Buffalo, NY.
In January, 2011 U.S. Energy Development announced the acquisitions of several Marcellus shale properties. These included 17 wells purchased from joint venture partner, Range Resources in Cattaraugus and Chautauqua counties, NY. It also bought several producing oil wells and 40 undeveloped drilling locations in northwestern Pennsylvania. Pipelines were already in place for these sites, and drilling was expected to be soon underway. It also purchased two producing natural gas wells in Fayette County, PA. These were purchased from Oil and Gas Equity Management. The company also planned to invest in a natural gas liquids (NGL) processing plant in northern Pennsylvania.
