News Releases

Baker Botts Represents U.S. Energy Development Corporation in Acquisition of a Stake in Core Midland Basin Project for $225 Million


Deal description: U.S. Energy Development Corporation (U.S. Energy), an exploration and production company focused on the development of energy projects throughout North America, recently acquired a 25% working interest in the Mascot Project, a stacked pay asset in core Midland Basin for $225 million cash and other considerations. U.S. Energy anticipates full development of the project to comprise another $130 million in capital expenditures over the next two years, bringing the total transaction value to well over $300 million.

Located in Midland County, Texas, the Mascot Project includes multiple producing properties, associated midstream assets, and upwards of 50 undeveloped locations expected to produce ~6,500 BOE per day during 2023. The Mascot Project is majority-owned by Midland Petro D.C. Partners, LLC (MPDC), a David H. Arrington-owned business, and operated by an affiliate of MPDC, Permian Deep Rock Oil Company.

Baker Botts represented U.S. Energy. The client’s press release can be found here.

Baker Botts Lawyers/Offices Involved:

Corporate: Larry Hall (Partner, Dallas), Jonathan Platt (Partner, Dallas)

Tax: Stephen Marcus (Partner, Dallas), Jordan Hahn (Senior Associate, Dallas)

Finance: Shad Sumrow (Partner, Dallas)

Global Projects: Megan Young (Associate, Houston)

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit


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