U.S. Energy Development completed the acquisition of the Mascot Project from Midland Petro D.C. Partners for $225m.

U.S. Energy Development, an exploration and production company focused on the development of energy projects throughout North America, completed the acquisition of the Mascot Project, located in the core Midland Basin containing multiple producing properties, related midstream assets, and more than 50 undeveloped locations, from Midland Petro D.C. Partners for $225m. "Midland Petro D.C. Partners have spent five years assembling a world-class project in Midland County, and we are excited to have the opportunity to be a part of it. Our investment in the Mascot Project deepens our ties in the Permian Basin and highlights our continued strategy to acquire high-quality assets with proven operators in the basin. Mr. Arrington has decades of experience operating quality projects in the basin, and we are pleased to partner with him in bringing this asset to full development," Jordan Jayson, U.S. Energy Development Corporation CEO.