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 [...]
DENVER, Nov. 14, 2017 -- U.S. Energy Corp. today announced financial and operational results for the quarter ended September 30, 2017. Highlights Production of 42,637 BOE, or daily production of 463 BOEPD; Oil and gas revenue of $1.5 million; Lease operating expenses of $0.6 million; Adjusted EBITDA of $0.3 million; Cash and cash equivalents of $1.8 million at 9/30/2017; Pro-forma cash balance of $3.8 million for [...]
U.S. Energy Corp.U.S. Energy Corp. announced that on November 3, 2017, the Company received a notification letter from The Nasdaq Stock Market LLC indicating that Nasdaq has determined to allow continued listing of the Company's common stock on the Nasdaq Stock Market due to the Company's bid price having closed above $1.00 for the prior ten consecutive trading days, subject to the following: on or before November 15 [...]
DENVER, Nov. 06, 2017 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (NASDAQ:USEG) (“U.S. Energy” or the “Company”) today announced it has received scheduled proceeds from a previously announced August 2014 transaction regarding the divestment of uranium mining assets in exchange for $2.5 million of stock in Anfield Resources Inc. (TSXV:ARY) (“Anfield”). Pursuant to the agreement, payments for [...]
DENVER, Oct. 23, 2017 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (NASDAQ:USEG) (“U.S. Energy” or the “Company”) today announced it will participate in the upcoming horizontal drilling program on its existing acreage position targeting the development of the Georgetown formation in Zavala and Dimmit Counties, Texas. The development program will take place on acreage positions previously developed for [...]
DENVER, Oct. 10, 2017 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (NASDAQ:USEG) (“U.S. Energy” or the “Company”) today announced it has entered into a purchase and sale agreement (“Purchase Agreement”) to sell certain non-operated assets in the Williston Basin for the elimination of $4.2 million in outstanding liabilities and $2.0 million in cash. The agreement was unanimously approved by the [...]
DENVER, Oct. 05, 2017 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (NASDAQ:USEG) (“U.S. Energy” or the “Company”) today announced an agreement to substantially reduce the Company’s outstanding debt through an exchange transaction (the “Transaction”) with APEG Energy II, L.P., the sole lender of its Senior Secured Credit Facility (“Credit Facility”). The Transaction was [...]
DENVER, Aug. 14, 2017 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (NASDAQ:USEG) (“U.S. Energy” or the “Company”) today announced financial and operational results for the quarter ended June 30, 2017, mid-year proved oil & gas reserves, and Revolving Credit Facility (“Credit Facility”) updates. Highlights Second quarter production of 58,369 BOE increased 17% as compared to the first quarter [...]
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