U.S. Energy Corp.

U.S. Energy Corp. , today announced the full exercise of the over-allotment option granted to the underwriters with respect to 150,000 additional shares of common stock, and closing of the previously announced underwritten public offering of 1,000,000 shares, bringing the total gross proceeds from the offering to $3,450,000 million before deducting underwriting discounts and other offering expenses. The Company intends to [...]

U.S. Energy Corp. today announced financial and operating results for the third quarter ended September 30, 2020. Management Comments “Despite the continuation of the challenging commodity price backdrop and widespread shut-in activity taking place in the upstream industry, U.S. Energy has continued to execute on its previously stated 2020 plan,” said Ryan Smith, U.S. Energy’s Chief Executive Officer. “While the third [...]

U.S. Energy Corp. , today announced the pricing of an underwritten public offering of 1,000,000 shares of its common stock at a price of $3.00 per share, for gross proceeds to the Company of $3,000,000, before deducting underwriting discounts and other offering expenses. The Company intends to use the net proceeds from this offering for general corporate purposes, capital expenditures, working capital, and potential [...]

Oil and gas direct investments leader acquires interest in Poker Lake Project in New Mexico U.S. Energy Development Corporation , an exploration & production firm which designs and manages direct investments in energy, announces it has acquired a working interest position in Poker Lake, a nine well horizontal development project in Eddy County, New Mexico. The $16 million project further expands U.S. Energy's investments [...]

U.S. Energy Corp. today announced that the Company has entered into a Purchase and Sale Agreement to acquire operated producing assets located in Liberty County, Texas in an all-stock transaction. Acquisition Highlights Proved Developed Reserves estimated at approximately 242,300 barrels of oil. PV-10 estimated at $1.2 million at current strip pricing. 680 net acres in Liberty County, Texas all held by production [...]

U.S. Energy Corp. , today announced that it has entered into definitive agreements with institutional and accredited investors for the purchase and sale of 315,810 shares of the Company’s common stock, at a purchase price of $5.25 per share, in a registered direct offering priced above the market under Nasdaq rules. The closing of the offering is expected to occur on or about October 2, 2020, subject to the satisfaction [...]

U.S. Energy Corp. today announced that the Company has entered into an Asset Purchase Agreement and closed a transaction to acquire operated and non-operated producing assets primarily located in Lea County, New Mexico and Converse County, Wyoming. The acquired Properties consist of select upstream assets of FieldPoint Petroleum Corporation and were acquired pursuant to Fieldpoint’s Chapter 7 bankruptcy process [...]

Oil and gas direct investments leader acquires interest in Texas-based Columbia Project Operated by Shell Oil Company U.S. Energy Development Corporation , an exploration & production firm which provides direct investments in energy, announces the firm has acquired an interest in a horizontal well development project in Loving County which is located in West Texas. The firm's $8.5 million interest in the Columbia Project [...]

U.S. Energy Corp. announced financial and operating results for the second quarter ended June 30, 2020. Management Comments “Despite the continuation of the challenging commodity price backdrop and unprecedented shut-in activity taking place across large portions of the upstream industry, U.S. Energy is uniquely well positioned to take advantage of the turmoil in the commodity markets,” said Ryan Smith, U.S. Energy’s [...]

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 [...]