Permian investments grow as market shows signs of recovery
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September 27, 2020
CARLSBAD, N.M. (AP) — An American energy investment company has pledged $8.5 million to develop oil and gas assets in the Permian Basin that are owned by Shell Oil Co.
The announcement this month by U.S. Energy Development Corp. to acquire interest in a horizontal well project near the New Mexico-Texas state line is an indication that some operations are looking to expand their footprint in what is still considered one of the country's most productive oilfields.
With a total development cost of about $24 million, the project will target part of what government scientists have identified as the...
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