U.S. Energy Corp.

U.S. Energy Corp. today announced its participation in and the spudding of the Company’s first drilling prospect of 2018 targeting the Georgetown formation in Zavala County, Texas. The J. Beeler No. 1 was spudded on October 18, 2018 and is expected to be drilled to total depth in approximately three weeks. U.S. Energy holds a 30% working interest in the well and will fund its portion of the drilling through existing [...]

U.S. Energy Corp. today announced that it has entered into an exclusive non-binding Memorandum of Understanding to acquire oil and natural gas producing properties targeting the Bakken formation of North Dakota. Overview The Company has entered into a Memorandum Of Understanding with APEG I Partners, a Texas partnership , to acquire all of APEG’s interest in 67 wells concentrated in Williams and McKenzie Counties [...]

U.S. Energy Corp. today announced financial and operational results for the second quarter ended June 30, 2018. Highlights Production of 36,061 BOE, or daily production of 396 BOEPD; Oil and gas revenues of $1.6 million; Lease operating expenses of $0.5 million or $12.81 per BOE; Cash and cash equivalents of $2.8 million at 6/30/2018; Total outstanding debt of $0.9 million at 6/30/2018; Recently entered into agreement to [...]

DENVER, May 14, 2018 -- U.S. Energy Corp. today announced financial and operational results for the first quarter ended March 31, 2018. Highlights Production of 37,413 BOE, or daily production of 416 BOEPD, a 5% sequential increase; Oil and gas revenues of $1.6 million, a 23% sequential increase; Lease operating expenses of $0.4 million or $11.33 per BOE; Cash and cash equivalents of $2.1 million at 3/31/2018; Total [...]

DENVER, March 28, 2018 -- U.S. Energy Corp. today announced financial and operational results for the year and fourth quarter ended December 31, 2017. In addition, the Company announced its estimated proved reserves as of December 31, 2017. Highlights 2017 Production of 186,676 BOE, or daily production of 511 BOEPD; 4Q2017 Production of 35,789 BOE, or daily production of 389 BOEPD; 2017 Oil and gas revenue of $6.6 [...]

DENVER, Jan. 12, 2018 -- U.S. Energy Corp. today announced initial production results from its recently announced participation in the horizontal drilling program on its existing acreage position targeting the development of the Georgetown formation in Zavala and Dimmit Counties, Texas. In Zavala County, Texas, the Beeler Ranch #1H, an approximate 26,000 foot total measured depth dual-lateral well targeting the Georgetown [...]

SANTA CLARITA, CA, Jan. 02, 2018 -- USEI CANNABIS INITIATIVES CORP, a wholly owned subsidiary of a California based company, poised to capitalize on California’s legal cannabis industry focusing on the manufacturing and extraction of oil from cannabis is pleased to announce today that its Board of Directors has declared two dividends in the form of warrants to purchase shares of the Company's common stock; a 1 for [...]

DENVER, Dec. 29, 2017 -- U.S. Energy Corp. today announced that it has closed its previously announced agreement to substantially reduce the Company’s outstanding debt through an exchange transaction with APEG Energy II, L.P., the sole lender of its Senior Secured Credit Facility . The Transaction was approved by the Company’s shareholders at a special meeting held December 27, 2017. Highlights U.S. Energy has [...]

USEI CANNABIS Initiatives CORP, a wholly owned subsidiary of is a California based company is pleased to announce it has purchased its first MRX 20L Super-critical CO2 Botanical Extraction Unit to be used for the express purpose of participating in the California cannabis industry. On January 1, 2018, California becomes the largest legal cannabis market in the world...with an estimated market of approximately $6.8 billion [...]

DENVER, Nov. 17, 2017 -- U.S. Energy Corp. announced that on November 15, 2017, 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, as required by Nasdaq’s decision dated November 3, 2017, and is in compliance with other applicable requirements as set forth in the decision and [...]