U.S. Energy Corp. Announces Transaction to Acquire New Horizon Resources, LLC
U.S. Energy Corp. (USEG)
US:NASDAQ Investor Relations:
usedc.com/financial-advisors-investors
Company Research
Source: GlobeNewswire
HOUSTON, March 05, 2020 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (NASDAQCM: USEG) (“U.S. Energy” or the “Company”) today announced that the Company has entered into a Membership Interest Purchase Agreement and closed a transaction to acquire New Horizon Resources, LLC (“New Horizon”), whose assets include acreage and operated producing properties in North Dakota (the “Properties”). The consideration paid at closing consisted of 59,498 shares of common stock of the Company and $150,000 in cash (the “Acquisition”). The effective date of the Acquisition is March 1, 2020. The New Horizon Properties consist of approximately 1,300 net acres located primarily in McKenzie and Divide Counties, North Dakota, which are 100% held by production, average a 63% working interest, and produced approximately 30 net Boepd (88% oil) for the six-month period ended December 31, 2019. The Properties represent assets in a mature field with existing cash flow, low decline and significant upside potential from
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USEG
Sec Filings
- 12/20/24 - Form 4
- 12/13/24 - Form 8-K
- 11/29/24 - Form 4
- USEG's page on the SEC website