Welcome to our dedicated page for US Enrgy news (Ticker: USEG), a resource for investors and traders seeking the latest updates and insights on US Enrgy stock.
U.S. Energy Corp. (NASDAQ: USEG) news coverage centers on its evolution as a U.S.-based energy company with a growing industrial gas and carbon management platform. Company releases describe a shift from a portfolio of onshore oil and natural gas properties toward a strategy that combines hydrocarbon production with industrial gas development and CO₂ sequestration, particularly at the Kevin Dome in Montana.
Investors following USEG news will find regular quarterly updates on financial and operating results, including proved developed producing reserves, hydrocarbon production volumes, and the impact of asset divestitures on the company’s portfolio. These releases also discuss lease operating expenses, general and administrative costs, and non-GAAP measures such as Adjusted EBITDA, along with commentary on how proceeds from asset sales and equity offerings are being allocated.
Operational news highlights include drilling and testing of industrial gas wells in the CO₂- and helium-bearing Duperow Formation, progress on the design and construction planning of an initial gas processing facility, and the build-out of gathering systems and injection infrastructure. U.S. Energy also reports on acquisitions of acreage and Class II injection wells in Montana that it views as important to its CCUS-enabled industrial gas platform.
Regulatory and capital markets updates appear in the form of announcements about conference participation, underwritten equity offerings, share repurchase activity, and agreements such as the Common Stock Purchase Agreement with Roth Principal Investments. Earnings call and conference call notices provide timing details for investors who want to hear management discuss recent results and development plans. For a consolidated view of these developments, this news page brings together U.S. Energy’s press releases and related disclosures in one place.
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U.S. Energy Corp. (USEG) announced a $5.0 million share repurchase program, authorized by its Board of Directors. The program aims to buy back shares in the open market, depending on capital needs, stock market conditions, and other factors. CEO Ryan Smith stated this move reflects the company's belief in the undervaluation of its assets and offers a tax-efficient method to return capital to shareholders while potentially increasing earnings per share. As of December 31, 2022, USEG held $4.46 million in cash with 25,023,812 shares outstanding. The program may be modified or halted based on market conditions and management discretion.
U.S. Energy Corp. (USEG) reported strong financial results for 2022, highlighting a record production of 1,700 Boe/d and adjusted EBITDA of $15.0 million. During Q4 2022, production reached 1,918 Boe/d, and net cash from operations totaled $2.3 million. A quarterly cash dividend of $1.7 million was returned to shareholders. The company’s oil and gas capital expenditures were $6.2 million, with year-end debt standing at $12.0 million. Proved reserves increased by 24% to 7.9 MMBoe, with a present value of $174.2 million. Notably, revenue decreased by 20% in Q4 due to falling realized prices. Despite these challenges, U.S. Energy is focused on disciplined acquisitions and maintaining strong cash flow.
U.S. Energy Corp. (NASDAQ: USEG) reported a 24% increase in year-end 2022 proved developed producing (PDP) reserves, totaling 7.8 million barrels of oil equivalent (MMBoe). The increase was attributed to two asset acquisitions, adding approximately 1.6 MMBoe of PDP reserves. The PV-10 value of these reserves was reported at $173.1 million, based on an average crude oil price of $90.67 per barrel. Production reached an average of 1,918 barrels of oil equivalent per day in Q4 2022, representing a dramatic 453% increase compared to Q4 2021. The company ended the year with $12 million in debt and $4.1 million in cash, totaling $12.1 million in liquidity.
U.S. Energy Corp. (NASDAQCM: USEG) has declared a cash dividend of $0.0225 per share, payable on February 23, 2023. The record date for shareholders is February 10, 2023. This announcement reflects the company's commitment to providing returns to its shareholders. U.S. Energy focuses on operating mature, low decline assets, aiming to enhance capital returns. For more details, visit www.usnrg.com.
U.S. Energy Corporation (NASDAQ: USEG) reported third-quarter 2022 results with net cash from operations at $4.7 million and net income of $4.1 million, equating to $0.16 per diluted share. Daily production averaged 1,752 Boe/d, alongside a quarterly cash dividend of $0.0225 per share. The company closed an $11.8 million acquisition in East Texas, enhancing its asset portfolio. Notably, total oil and gas sales declined to approximately $11.8 million, influenced by maintenance activities impacting production. Aimed at sustainable growth, U.S. Energy prioritizes further investments and maintaining a conservative leverage profile.
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