U.S. Energy Corp.

U.S. Energy announced that the Company will be participating in the Louisiana Energy Conference to be held in New Orleans, Louisiana on June 1-3, 2022. Ryan Smith, Chief Executive Officer, will host in person one-on-one meetings with investors during the conference and participate on a panel discussion. An investor deck prepared for the conference will be posted on U.S. Energy’s website, www.usnrg.com, on the front page [...]

U.S. Energy announced financial and operating results for the first quarter ended March 31, 2022. Quarterly Highlights and Recent Developments: Oil and gas revenues of $8.9 million, an increase of 633% from the comparable period of 2021. Production of 120,712 BOE, or daily production of 1,341 BOEPD, an increase of 366% from the comparable period of 2021. Adjusted EBITDA1 of $4.1 million. Closed transformational and highly [...]

U.S. Energy Corp. today announced that the Company has acquired operated oil and gas producing properties in an all-cash transaction . The Properties are located primarily in Liberty County, TX adjacent to the Company's existing assets in the area. Acquisition Highlights Proved Developed Producing PV-10 estimated at $2.3 million. PDP reserves estimated at approximately 88,510 barrels of oil. Includes the Panther City [...]

U.S. Energy Corp. today announced results for the full year and fourth quarter ended December 31, 2021. In addition, the Company's board of directors declared a quarterly cash dividend of $0.0225 per share of common stock, payable on May 2, 2022, to shareholders of record as of April 15, 2022. Highlights Executed Purchase and Sale Agreements for previously announced transformative acquisitions on October 4, 2021, which [...]

U.S. Energy Corp. today announced its year-end 2021 SEC total estimated proved reserves of approximately 1.3 MMBoe and $20.6 million of PV-10. Incorporating the Company's recently announced acquisitions which closed on January 5, 2022 and utilizing NYMEX strip pricing, total proved reserves as of year-end were 6.0 MMBoe and $109.8 million of PV-10. Management Comment "2021 was a transformational year for U.S. Energy and [...]

U.S. Energy Corp. today announced the successful closing, on January 5, 2022, of the previously announced transactions to purchase certain oil and gas assets from Lubbock Energy Partners LLC, Synergy Offshore LLC, and certain entities controlled by Sage Road Capital, LLC . The Acquired Assets represent an operated portfolio of low decline, oil weighted assets across the Rockies, West Texas, Eagle Ford, and Mid-Continent [...]

U.S. Energy Development Corporation , an exploration & production firm that provides direct investments in energy, announced today that it has increased its master borrowing base with Washington Federal Bank to $75 million. "We are grateful for our continued partnership with Washington Federal," said Jordan Jayson, CEO of U.S. Energy. "This increased borrowing base provides U.S. Energy with additional capacity to acquire [...]

U.S. Energy Corp. today announced financial and operating results for the third quarter ended September 30, 2021. Quarterly Highlights and Recent Developments Production of 33,260 BOE, or daily production of 362 BOEPD, an increase of 147% from the prior year quarter. Oil and gas revenues of $1.8 million, an increase of 345% from the prior year quarter. Cash and cash equivalents of $7.0 million at 9/30/2021. Adjusted [...]

U.S. Energy Corp. today announced that it has entered into definitive purchase and sale agreements to purchase certain oil and gas assets from Lubbock Energy Partners LLC, Synergy Offshore LLC, and certain entities controlled by Sage Road Capital, LLC . Under the terms of the agreements, U.S. Energy will issue 19,905,736 shares of common stock, pay $1.25 million of cash, and assume $3.3 million of indebtedness from the [...]

On track to invest an additional $400 million within the next 24 months U.S. Energy Development Corporation , an exploration & production firm which provides direct investments in energy, announced its most recent strategic acquisition of a $50 million asset in Loving County, Texas, in the core of the Delaware Basin. The project has wells targeting three of the basin's most prolific benches - 3rd Bone Spring, Wolfcamp A [...]