U.S. Energy Corp.

U.S. Energy Corp. today announced financial and operating results for the first quarter ended March 31, 2020. First Quarter Highlights Successfully closed oil weighted, cash flow accretive acquisition of New Horizon Resources in North Dakota; Production of 27,204 barrels of oil equivalent , or daily production of 297 barrels of oil equivalent per day ; Oil and gas revenues of $0.9 million; Lease operating expenses of $0.4 [...]

U.S. Energy Corp. today announced financial and operating results for the year ended December 31, 2019. Full Year 2019 Highlights Production of 145,010 barrels of oil equivalent , or daily production of 397 barrels of oil equivalent per day ; Oil and gas revenues of $6.6 million; Lease operating expenses of $1.8 million, or $12.74 per BOE; Production taxes of $0.4 million; Adjusted EBITDA of $0.1 million; and Free cash [...]

U.S. Energy Corp. today announced that the Company has entered into a Membership Interest Purchase Agreement and closed a transaction to acquire New Horizon Resources, LLC , whose assets include acreage and operated producing properties in North Dakota . The consideration paid at closing consisted of 59,498 shares of common stock of the Company and $150,000 in cash . The effective date of the Acquisition is March 1, 2020 [...]

U.S. Energy Corp. today announced preliminary 2019 full year and fourth quarter operating results and its 2019 year end proved reserves. “Throughout the fourth quarter and entire 2019, we have continued to see increased production results across our legacy asset base in North Dakota and South Texas,” said Ryan Smith, U.S. Energy’s Chief Executive Officer. “As we enter 2020, U.S. Energy will not [...]

U.S. Energy Corp. today announced that on January 21, 2020, the Company received a notification letter from The Nasdaq Stock Market LLC indicating that Nasdaq has determined that the Company has regained compliance with the minimum bid price rule and that the Company is in compliance with all applicable listing standards. Therefore, the hearing scheduled for February 6, 2020 before the Nasdaq Hearings Panel has been [...]

U.S. Energy Corp. announced today that, following approval of the 1-for-10 reverse stock split by U.S. Energy shareholders at the 2019 Annual Shareholders’ Meeting held on December 10, 2019, U.S. Energy’s Board of Directors determined to effect the reverse stock split of U.S. Energy’s common stock. The applicable Articles of Amendment to the Company’s Restated Articles of Incorporation were filed [...]

U.S. Energy Corp. today announced that it has completed its 2019 annual meeting of shareholders . Upon completion of the annual meeting, the Company is pleased to announce the election of a new Board of Directors and the appointment of a new Chief Executive Officer. The Company is governed by a Board of Directors comprising of Stephen Slack, who serves as Chairman of the Board, James Denny, Patrick Duke, Randall Keys and [...]

BURLINGTON, Vt., Nov. 20, 2019 /PRNewswire/ -- Ventureco Holdings and U.S. Energy Development Corporation lead the way forward in the alternatives and direct investment industry, announcing deployment of a straight through processing and syndicate management platform to drive greater investment in the firm's energy products.  USEDC, as one of the largest sponsors of direct oil & natural gas investments, will leverage the [...]

U.S. Energy Corp. today announced financial and operating results for the third quarter ended September 30, 2019. Third Quarter 2019 Highlights Production of 34,596 barrels of oil equivalent , or daily production of 376 barrels of oil equivalent per day ; Oil and gas revenues of $1.6 million; Lease operating expenses of $0.4 million, or $11.85 per BOE; Production taxes of $0.1 million; Adjusted EBITDA of $0.2 million; and [...]

U.S. Energy Corp. today announced financial and operating results for the first and second quarters ended March 31, 2019 and June 30, 2019, respectively. Second Quarter 2019 Highlights Production of 39,410 barrels of oil equivalent , or daily production of 433 barrels of oil equivalent per day ; Oil and gas revenues of $1.9 million; Lease operating expenses of $0.5 million; Production taxes of $0.1 million; Mid-year 2019 [...]