Welcome to our dedicated page for U.S. Energy news (Ticker: USEG), a resource for investors and traders seeking the latest updates and insights on U.S. Energy stock.
U.S. Energy Corp., founded in 1966 and based in Houston, Texas, is an independent energy company with a core focus on the acquisition, exploration, and development of oil and natural gas properties within the United States. The company holds significant interests in various oil and gas properties, primarily in North Dakota's Williston Basin and South Texas.
The company's business operations revolve around developing and producing oil and natural gas, generating revenue from its interests in these valuable resources. U.S. Energy Corp. is committed to sustainable development and responsible resource management, ensuring minimal environmental impact while maximizing output and profitability.
Recently, as of September 30, 2023, the company reported a debt of $12.0 million on its revolving credit facility, with an availability of $8.0 million and a cash balance of approximately $2.0 million. Moving forward, by March 31, 2024, U.S. Energy Corp. successfully managed to reduce the outstanding debt to $5.0 million, improving its financial health and operational flexibility.
The company's strategic approach involves forging partnerships and leveraging industry expertise to optimize the discovery and production processes. These collaborations support U.S. Energy Corp.'s ongoing projects and contribute to its recognition as a reliable entity in the energy sector.
For those seeking detailed financial performance, U.S. Energy Corp. offers transparency through regular updates and comprehensive reports. Stakeholders can contact Mason McGuire for investor relations at IR@usnrg.com or via phone at (303) 993-3200. Further information is available on their website, www.usnrg.com.
U.S. Energy Corp. (NASDAQ: USEG) will release its third quarter 2022 financial results on November 10, 2022, after market close. A conference call to discuss these results is scheduled for November 11, 2022, at 8:30 a.m. ET. Investors can access the call via a live webcast on the company's website, and participate via phone using specific domestic and international numbers. U.S. Energy focuses on operating mature, low decline energy assets and aims to provide capital returns to shareholders. Important factors affecting future results are also highlighted, including risks related to oil price fluctuations and operational challenges.
U.S. Energy Corp. (NASDAQCM: USEG) has declared a cash dividend of $0.0225 per share on its common stock. This dividend is set to be paid on November 22, 2022, to stockholders who are on record as of the close of business on November 8, 2022. The Company continues to focus on capital returns to shareholders through a portfolio of low decline energy assets.
U.S. Energy Corp. (USEG) reported a strong second quarter for 2022, achieving revenues of $13.5 million, a remarkable 714% increase from 2021. The company produced 162,230 BOE (1,783 BOEPD), up 406% year-over-year. Proved Developed Producing reserves reached 8.0 Mmboe with a PV-10 value of $167.1 million. The company announced a successful acquisition of gas-weighted assets worth $11.875 million in Texas, bolstering its production capacity. Shareholders will receive a dividend of $0.0225 per share on August 22, 2022, underscoring U.S. Energy's commitment to returns.
U.S. Energy Corp. (NASDAQCM: USEG) has completed the acquisition of operated oil and gas properties in Texas for $11.875 million. This acquisition is expected to enhance the company's production base and free cash flow profile. CEO Ryan Smith emphasized that it diversifies their commodity mix, allowing better capital allocation to high-return projects. U.S. Energy remains focused on disciplined capital management and maintaining shareholder returns through internally generated cash flow.
U.S. Energy Corp. (NASDAQCM: USEG) announced a cash dividend of $0.0225 per share, payable on August 22, 2022, to stockholders of record by August 8, 2022. This move reflects the company's commitment to delivering shareholder value while managing a portfolio of mature, low decline assets. U.S. Energy aims to sustain a strong capital returns program, enhancing investor confidence and supporting long-term growth objectives.
U.S. Energy Corp. (NASDAQCM: USEG) announced an agreement to acquire operated oil and gas properties in East Texas for $11.8 million. The acquisition includes approximately 16,600 net acres and is projected to add $22.7 million in Proved Developed Producing PV-10 reserves. With an average net production of 418 barrels of oil equivalent per day, the transaction is expected to enhance U.S. Energy's cash flow and maintain a low leverage balance sheet. Closing is anticipated in July 2022, with the deal funded by cash on hand and borrowings.
U.S. Energy Corp. (NASDAQCM: USEG) is set to participate in the Louisiana Energy Conference from June 1-3, 2022, in New Orleans. CEO Ryan Smith will host one-on-one investor meetings and take part in a panel discussion. An investor deck for the conference will be available on the company’s website, www.usnrg.com.
U.S. Energy focuses on consolidating high-quality producing assets in the U.S. to optimize production and generate free cash flow, while committing to ESG stewardship and reducing carbon footprints.
U.S. Energy Corp. (NASDAQCM: USEG) reported a significant increase in first-quarter 2022 results, with revenues of $8.9 million, up 633% year-over-year. Production reached 120,712 BOE, averaging 1,341 BOEPD, a 366% increase compared to Q1 2021. The company closed a major acquisition valued at $88.7 million in January 2022 and initiated a $0.0225 per share dividend. Despite a net loss of $3.4 million, adjusted EBITDA was reported at $4.1 million, reflecting strong cash flow generation. U.S. Energy aims to continue shareholder returns and asset growth.
U.S. Energy Corp. (NASDAQCM: USEG) announced the acquisition of operated oil and gas properties in Liberty County, TX, for $1.0 million in cash. The acquired properties, effective from April 1, 2022, are estimated to have Proved Developed Producing (PDP) reserves of approximately 88,510 barrels of oil and a PV-10 value of $2.3 million. This acquisition aligns with U.S. Energy's strategy to consolidate cash-flowing assets and enhance operational efficiencies in existing areas, further bolstered by the Panther City Pipeline, which offers prospects for gas sales.
U.S. Energy Corp. (NASDAQCM: USEG) reported significant growth for 2021, with revenues soaring by 186% to $6.7 million and production escalating by 55% to 123,165 BOE. The fourth quarter also demonstrated strong results, with a 148% revenue increase to $2.0 million. The company declared a quarterly cash dividend of $0.0225 per share, set for payment on May 2, 2022, to shareholders of record as of April 15, 2022. Management emphasized a strategy focused on opportunistic growth and shareholder returns, supported by a robust cash flow generation from recent acquisitions.
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