U.S. Energy Corp. Closes Asset Sale for East Texas Properties
U.S. Energy Corp. (USEG)
US:NASDAQ Investor Relations:
usedc.com/financial-advisors-investors
Company Research
Source: GlobeNewswire
HOUSTON, Dec. 31, 2024 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (NASDAQ: USEG, “U.S. Energy” or the “Company”) today announced that the Company has closed the sale (the “Transaction”) of assets located in East Texas (the “East Texas Assets”). The Transaction was previously announced on December 12, 2024. HIGHLIGHTS All cash proceeds of $6,825,000.Proceeds are expected to be used to fund the continued development of U.S. Energy’s industrial gas project in Montana.Divested assets averaged approximately 1.0 million cubic feet per day of natural gas and 149 barrels of oil per day for the quarter ending September 30, 2024.The transaction closed on December 31, 2024 with an effective date of November 1, 2024. MANAGEMENT COMMENTARY “We are pleased to announce the successful closing of U.S. Energy's recent transaction, completing the divestment of a significant portion of our legacy East Texas assets,” stated Ryan Smith, Chief Executive Officer of U.S. Energy Corp. “The proceeds from this
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News
- U.S. Energy Corp. (NASDAQ: USEG) had its "buy" rating re-affirmed by analysts at D. Boral Capital. They now have a $2.00 price target on the stock.MarketBeat
- U.S. Energy Corp. Closes Asset Sale for East Texas Properties [Yahoo! Finance]Yahoo! Finance
- U.S. Energy Corp. Announces Entry Into Binding Agreement For Sale Of East Texas PropertiesGlobeNewswire
- USEDC Provides Year-to-Date Oil and Gas Market Update and Post-Election Outlook [Yahoo! Finance]Yahoo! Finance
- U.S. Energy Corp. to Present at the Emerging Growth Conference on December 4, 2024 [Yahoo! Finance]Yahoo! Finance
USEG
Sec Filings
- 1/2/25 - Form 4
- 12/31/24 - Form 8-K
- 12/26/24 - Form 4
- USEG's page on the SEC website