US Enrgy Stock Price, News & Analysis

U.S. Energy Corp. (USEG) reported a robust performance for Q3 2021, with oil and gas production of 33,260 BOE, marking a 147% increase year-over-year. Revenues surged 345% to $1.8 million, driven by increased oil production and improved prices. The company held $7.0 million in cash with no debt at the end of the quarter. Management anticipates closing on acquisitions of diversified oil and gas assets in early 2022, aiming to enhance scale and establish a low-cost production model.

U.S. Energy Corp. (NASDAQCM: USEG) has entered into agreements to acquire oil and gas assets from Lubbock Energy Partners, Synergy Offshore, and Sage Road Capital. The transaction involves issuing 19,905,736 shares, paying $1.25 million in cash, and assuming $3.3 million in debt, with a total consideration of $99.5 million. This acquisition is expected to increase daily production by 377% and Proved Developed Producing reserves by 316%. It aims to position U.S. Energy as a low-cost consolidator, enhancing cash flow and operational efficiencies.

U.S. Energy Corp. (USEG) reported strong financial results for Q2 2021, with revenues soaring to $1.7 million, up from $0.2 million in Q2 2020. The company produced 32,073 BOE, averaging 352 BOE/day, representing a 130% increase from the prior year. Oil constituted 75% of total production, with average sales prices for oil and gas at $62.59 and $3.10 per unit, respectively. The company enjoys a solid balance sheet, with $6.6 million in cash and no debt, positioning it well for future growth.

U.S. Energy Corp. (NASDAQCM: USEG) reported strong first quarter results for 2021, achieving production volumes of 25,905 BOE, with 84% coming from oil. The average daily production increased by 4.3% to 288 BOE/d compared to Q4 2020. Revenue rose to $1.2 million, up from $0.9 million year-over-year, largely due to enhanced oil production volumes and improved prices. The company maintained a solid liquidity position with $7.2 million in cash and no debt, aiming to enhance operational efficiency and cash flow from acquisitions.

U.S. Energy Corp. (USEG) reported operational results for 2020, revealing a significant production increase. Fourth quarter production reached 25,397 BOE, averaging 276 BOEPD, an 89% rise from Q3 2020. The company's total proved reserves surged by approximately 49% to 1,480,665 BOE, with a pre-tax PV-10 value of $15.9 million based on strip pricing. Cash equivalents stand at $7.6 million as of March 1, 2021. U.S. Energy emphasized a focus on strategic growth and financial discipline moving into 2021, following the successful integration of new assets and the redemption of its preferred stock.

U.S. Energy Corp. (Nasdaq: USEG) announced the closing of its underwritten public offering of 1,131,600 shares of common stock at a price of $5.10 per share, generating gross proceeds of $5,771,160. The offering included the full exercise of an over-allotment option for 147,600 shares. Kingswood Capital Markets acted as the sole bookrunner. Shares were offered under a previously declared shelf registration statement filed with the SEC. The company focuses on acquiring and developing oil and gas properties in the U.S.

U.S. Energy Corp. (Nasdaq: USEG) has announced a public offering of 984,000 shares of common stock at $5.10 each, expecting gross proceeds of approximately $5.02 million. The underwriter, Kingswood Capital Markets, has a 45-day option to purchase up to an additional 147,600 shares. The offering, under a previously filed shelf registration statement, is expected to close on February 17, 2021. Proceeds are likely aimed at enhancing the company’s financial position for acquiring and developing oil and gas properties.

U.S. Energy Corp. (USEG) announced an underwritten public offering of its common stock, with plans to grant underwriters a 45-day option for an additional 15% of the shares. The offering, subject to market conditions, is anticipated to close on February 17, 2021. Shares are offered under a previously filed Form S-3 registration statement. Kingswood Capital Markets is the sole bookrunner for this offering. The company, focused on oil and gas properties in the U.S., emphasizes mature, low decline assets for maximizing capital returns.

U.S. Energy Corp. (NASDAQCM: USEG) announced the redemption of all Series A Convertible Preferred Stock, completing a significant milestone in its growth. The company redeemed the Preferred Stock for $2 million in cash and 328,000 shares of common stock, eliminating a $3.5 million liquidation preference and 12.25% quarterly dividends. This move strengthens the balance sheet and simplifies the capital structure, enhancing opportunities for common shareholders.