U.S. Energy Development Corporation Names Matt Iak President, Capital Markets

Announces senior-level promotions in Capital Markets, Corporate Development, and Corporate Counsel Roles

U.S. Energy Development Corporation (USEDC), a Fort Worth-based exploration and production company celebrating 45 years of operations, has appointed Matthew Iak as President of Capital Markets and announced a series of key executive promotions.

Iak's appointment reflects his longstanding leadership in capital formation and the firm's investment strategy. Since joining the firm in 2005, he has been instrumental in designing and structuring innovative oil and gas investment vehicles and building USEDC's reputation as a trusted partner. Under his leadership the firm's capital markets group has helped USEDC deploy more than $3 billion on behalf of itself and its partners.

"Matt has played a critical role in enhancing USEDC's position within the capital markets and fostering valuable partnerships across the investment community," said Jordan Jayson, CEO and Chairman of USEDC. "His appointment to President of Capital Markets-along with the advancement of several senior executives-demonstrates U.S. Energy's continued commitment to executing our long-term growth strategy and recognizing the leadership that drives our sustained success."

In addition to Iak's new role, the following senior leaders received promotions:

• Michael Haven, Senior Vice President, Capital Markets
  
  
• Todd Witmer, Senior Vice President, Corporate Development
  
  
• Josh Dazey, Senior Vice President and General Counsel

"These promotions, along with recent initiatives-including the appointment of Howard House as Senior Vice President & Chief Strategic Officer and the opening of our Houston office-position USEDC for continued innovation, expansion, and long-term value creation," added Jayson.

About Matthew Iak

Iak is President, Capital Markets, and a member of the company's Board of Directors. He has extensive knowledge of private placement, Regulation D, and estate and tax planning strategies, and has led the construction and underwriting of multiple new oil and gas investment structures.

He is also president of the board of directors for ADISA, CEO and President of Westmoreland Capital Corporation, an affiliated broker-dealer, and President of a series of family real estate and real estate management companies. Iak is also a board member for Real Asset Advisor.

About U.S. Energy Development Corporation

Founded in 1980 and celebrating 45 years of operations, USEDC is a privately held exploration and production (E&P) firm headquartered in Fort Worth, Texas, that manages assets for itself and its partners. USEDC blends operational and financial innovation with a forward-looking approach. It has invested in, operated, and/or drilled approximately 4,000 wells in 13 states and Canada and has deployed more than $3 billion on behalf of itself and its partners. For more information, please visit usedc.com and follow USEDC on LinkedIn.

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SOURCE U.S. Energy Development Corporation