U.S. Energy jumps on deal for helium assets in Montana's Kevin Dome [Seeking Alpha]
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U.S. Energy Corp. (USEG)
US:NASDAQ Investor Relations:
usedc.com/financial-advisors-investors
Company Research
Source: Seeking Alpha
Dome structure in Montana from Wavetech Helium, and executed a non-binding letter of intent with Synergy Offshore to acquire offsetting operated acreage. The two acquisitions form a largely contiguous acreage position across the Kevin Dome of ~164K net acres with multiple prospective helium pay zones. U.S. Energy ( USEG ) said it will acquire 82.5% of Wavetech's interests for $2M in cash, 2.6M common shares, and $20M carried working interest for which it commits to pay exploration, drilling, and completion costs attributable to Wavetech's 17.5% retained working interest. The company also will obtain 87.5% of Synergy Offshore's interests for $2M in cash, nearly 4.85M common shares, warrants to purchase 6.25M shares, and $12.5M carried working interest for which it commits to pay Synergy's exploration, drilling, and completion costs attributable to Synergy's 12.5% retained working interest. "We believe the Kevin Dome structure holds tremendous overall resource potential and full
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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 Corp. Announces Transformative Acquisition Targeting Helium Production [Yahoo! Finance]Yahoo! Finance
- U.S. Energy Corp. Announces Transformative Acquisition Targeting Helium ProductionGlobeNewswire
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