U.S. Energy Corp.

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 [...]

Acquisition Brings Total Investments in Permian Basin to $86 Million Within the Past Year U.S. Energy Development Corporation , an exploration & production firm which provides direct investments in energy, announced its most recent acquisition in the Permian Basin for $14.1 million, bringing the firm's total investments to $86 million within the past year. The new project is located in Reeves County, Texas in the core of [...]

U.S. Energy Corp. announced financial and operating results for the second quarter ended June 30, 2021. Management Comments "U.S. Energy has continued to build on the momentum created throughout the beginning of 2021 and carried that through to our strong second quarter performance," said Ryan Smith, U.S. Energy's Chief Executive Officer. "We achieved positive second quarter results as our team continues to successfully [...]

U.S. Energy Development Corporation , an exploration & production firm which provides direct investments in energy, announced today it has entered into a joint venture with Midland-based Atlantic Energy Partners, LLC to develop and operate three horizontal wells within the Permian Basin in Ward County, Texas. This strengthens U.S. Energy's existing position in Ward County where earlier this year, they completed and put [...]

Texas-based firm continues focus on ESG initiatives by reducing flaring U.S. Energy Development Corporation , an exploration & production firm which provides direct investments in energy, announces the completion of the LLM South B, LLM South C, LLM North A, Sola Vaca Norte A , Hideaway Ranch A and Hideaway Ranch E midstream infrastructure development projects located in the Eagle Ford Shale. These projects represent one [...]

U.S. Energy Corp. today announced financial and operating results for the first quarter ended March 31, 2021. Management Comments "U.S. Energy's first quarter performance was strong as we began to successfully integrate and enhance assets that were acquired during late 2020," said Ryan Smith, U.S. Energy's Chief Executive Officer. "Since the beginning of the year, U.S. Energy has increased the value and size of our asset [...]

U.S. Energy Corp. today announced operational results for the year and fourth quarter ended December 31, 2020. In addition, the Company announced its estimated proved reserves as of December 31, 2020. Highlights 4Q2020 production of 25,397 BOE, or average daily production of 276 BOEPD; Full year 2020 production of 79,816 BOE, or average daily production of 218 BOEPD; Proved Reserves of 1,255,236 BOE at December 31, 2020 [...]