FORT WORTH, Texas, Feb. 1, 2024 /PRNewswire/ -- U.S. Energy Development Corporation , an exploration and production company focused on the development of energy projects throughout North America, today announced the results of its 2023 asset acquisition efforts and its plans for strategic growth in 2024. "In the last six months alone, we closed well over 10 acquisitions with combined capital commitments of more than $500 [...]
U.S. Energy™, a leading provider of refined products, alternative fuels, and environmental credits, completed its first solar project at one of its terminals in Fort Worth, Texas. This terminal has been owned and operated by U.S. Energy since December 2014. Located on nearly 13,000 square feet of land between the terminal office and tank farm, the Fort Worth solar field consists of 312 400W bifacial solar modules [...]
U.S. Energy Corp. , a growth-focused energy company engaged in the operation of high-quality producing oil and natural gas assets, today announced it had completed a series of non-core asset divestitures. HIGHLIGHTS All-cash proceeds of approximately $7.2 million; Divested assets averaged approximately 200 barrels of oil equivalent per day from July-September 2023, or 12% of USEG total production over the same period; All [...]
U.S. Energy™, a leading provider of refined products, alternative fuels, and environmental credits, completed its first jet fuel throughput sale at its rail transload facility and refined products bulk plant in northern Las Vegas. This transaction was between its exclusive jet fuel partner, Strataflex Midstream, an industrial services business specializing in rail logistics and energy-related midstream services [...]
U.S. Energy™, a leading provider of refined products, alternative fuels, and environmental credits, acquired two refined product terminals in Mount Prospect and Rockford, Illinois. With the addition of these facilities, U.S. Energy now owns and operates 37 terminals across nine states with a collective storage capacity of over eight million barrels. The Mount Prospect and Rockford facilities contribute 380,000 and [...]
U.S. Energy Development Corporation , an exploration and production company focused on the development of energy projects throughout North America is pleased to announce the appointment of Jake Plunk as its senior vice president of acquisitions and divestitures. Mr. Plunk previously served as an independent non-executive director to U.S. Energy's Board of Directors for the past year. "We are delighted to announce Jake [...]
U.S. Energy Corp. , a growth-focused energy company engaged in operating a portfolio of high-quality producing oil and natural gas assets, today reported financial and operating results for the three months ended September 30, 2023. THIRD QUARTER 2023 HIGHLIGHTS Net daily production of 1,652 barrels of oil equivalent per day , a 6% decrease over third quarter of 2022 Oil production of 100,071 barrels, or 66% of total [...]
U.S. Energy Development Corporation , an exploration and production company focused on the development of energy projects throughout North America, is pleased to announce that Mike Williams has joined the company as vice president of engineering. Williams brings more than two decades of oil and gas, reservoir engineering, and management experience to the U.S. Energy leadership team. "Based on his track record and [...]
U.S. Energy Corp. , a growth-focused energy company engaged in operating a portfolio of high-quality producing oil and natural gas assets, today reported financial and operating results for the three months ended June 30, 2023. SECOND QUARTER 2023 HIGHLIGHTS Record net daily production of 1,959 barrels of oil equivalent per day , a 10% increase over second quarter of 2022 Oil production of 114,900 barrels, or 64% of total [...]
U.S. Energy™, a leading provider of refined products, alternative fuels, and environmental credits, signed a long-term agreement with Edgewood Renewables, a leading developer of renewable diesel and sustainable aviation fuel projects, to operate a rail transload facility and refined products bulk plant in northern Las Vegas. "We're excited to leverage this property to supply refined products to the region and also [...]
U.S. Energy Corp. today announced that Mark Zajac has been appointed Chief Financial Officer , effective June 1, 2023. Mr. Zajac brings 30 years of leadership experience across energy and finance, primarily as a Partner and national industry leader with KPMG. "I look forward to welcoming Mark to the U.S. Energy team," said Ryan Smith, President and Chief Executive Officer of U.S. Energy. "Mark's expertise as a seasoned [...]
U.S. Energy Corp. , a growth-focused energy company engaged in operating a portfolio of high-quality producing oil and natural gas assets, today reported financial and operating results for the three months ended March 31, 2023. FIRST QUARTER 2023 HIGHLIGHTS Net daily production of 1,726 barrels of oil equivalent per day , a 29% increase over first quarter of 2022 Produced oil volumes of 91,311 barrels, or 59% of total [...]
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