U.S. Energy Corp. Announces Transformative Acquisition Targeting Helium Production
U.S. Energy Corp. (USEG)
US:NASDAQ Investor Relations:
usedc.com/financial-advisors-investors
Company Research
Source: GlobeNewswire
HOUSTON, July 01, 2024 (GLOBE NEWSWIRE) -- U.S. Energy Corporation (NASDAQ: USEG, “U.S. Energy” or the “Company”) today announced that the Company has closed a transaction (the “Agreement”) with Wavetech Helium Inc (“Wavetech” or “WT”) for the acquisition of operated acreage targeting helium production across the Kevin Dome structure in Toole County, Montana (the “WT Asset”). Additionally, the Company has executed a non-binding letter of intent (the “LOI”) with Synergy Offshore, LLC (“Synergy” or “SOG”) to acquire offsetting operated acreage (the “SOG Asset”), forming a largely contiguous acreage position across the Kevin Dome of approximately 164,000 net acres, as discussed in greater detail below (collectively the “Assets”). HIGHLIGHTS Closed Wavetech Agreement on June 26, 2024. The WT Asset includes: Approximately 140,000 net acres.Multiple prospective helium pay zones consisting primarily of inert nitrogen and carbon dioxide heavy zones. Executed Synergy LOI on June 25, 2024
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USEG
News
- U.S. Energy Corp. (NASDAQ: USEG) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Chinese EV battery makers are building factories in Morocco to cash in on U.S. electric vehicle subsidies [Fortune]Fortune
- US Energy Production Chalks Up Another Record [zero hedge]zero hedge
- U.S. Energy jumps on deal for helium assets in Montana's Kevin Dome [Seeking Alpha]Seeking Alpha
- U.S. Energy Corp. Announces Transformative Acquisition Targeting Helium Production [Yahoo! Finance]Yahoo! Finance
USEG
Sec Filings
- 7/1/24 - Form 8-K
- 7/1/24 - Form DEFA14A
- 6/27/24 - Form SC
- USEG's page on the SEC website