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.
US Energy Corp (USEG) provides investors and industry observers with timely updates through this centralized news hub. Track official announcements, operational developments, and strategic initiatives from the Houston-based energy company focused on oil and gas properties in South Texas and North Dakota's Williston Basin.
This resource aggregates essential updates including quarterly earnings, property acquisitions, production milestones, and regulatory filings. Users gain efficient access to primary source materials without speculative analysis, maintaining compliance with financial disclosure standards.
For stakeholders monitoring the company's low-risk development strategy or regional expansion efforts, this page serves as a verified information repository. Content is curated to support informed decision-making while avoiding investment recommendations or forward-looking statements.
Bookmark this page for streamlined access to US Energy Corp's latest operational updates and historical announcements. Combine these resources with SEC filings and market data for comprehensive research into this independent energy producer.
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.
