Associated tags: Forestry, Energy
Locations: RIVERTON, WY, NEW YORK, TEXAS, CALIFORNIA, APPLETON, WI, US, ILLINOIS, ROCKFORD, MOUNT PROSPECT, NEVADA, LAS VEGAS, HOUSTON, TX
Sales from oil production represented 88% of total revenue during the quarter, an increase from 86% in the first quarter of 2023.
Key Points:
- Sales from oil production represented 88% of total revenue during the quarter, an increase from 86% in the first quarter of 2023.
- Lease operating expense (“LOE”) for the first quarter of 2024 was approximately $3.2 million, or $29.02 per Boe, as compared to $4.4 million, or $28.39, in the first quarter of 2023.
- Cash general and administrative (“G&A”) expenses were approximately $2.0 million during the first quarter of 2024, a reduction from the $2.1 million reported during the first quarter of 2023.
- Adjusted EBITDA was $0.2 million in the first quarter of 2024, compared to adjusted EBITDA of $1.2 million in the first quarter of 2023.
HOUSTON, May 07, 2024 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (NASDAQ: USEG, or the “Company”), a growth-focused energy company engaged in operating a portfolio of high-quality producing oil and natural gas assets, today announced that it will issue first quarter 2024 results after the market closes on Thursday, May 9, 2024.
Key Points:
- HOUSTON, May 07, 2024 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (NASDAQ: USEG, or the “Company”), a growth-focused energy company engaged in operating a portfolio of high-quality producing oil and natural gas assets, today announced that it will issue first quarter 2024 results after the market closes on Thursday, May 9, 2024.
- A conference call will be held Friday, May 10, 2024, at 9:00 a.m.
- ET to review the Company’s financial results, discuss recent events and conduct a question-and-answer session.
- A webcast of the conference call will be available in the Investor Relations section of the Company’s website at www.usnrg.com.
Energy” or the “Company”), a growth-focused energy company engaged in operating a portfolio of high-quality producing oil and natural gas assets, today reported financial and operating results for the three and twelve months ended December 31, 2023.
Key Points:
- Energy” or the “Company”), a growth-focused energy company engaged in operating a portfolio of high-quality producing oil and natural gas assets, today reported financial and operating results for the three and twelve months ended December 31, 2023.
- Revenue totaled $32.3 million with oil sales of $28.4 million and natural gas and liquids sales of $4.0 million.
- Lease operating expense of $3.1 million, or $22.38 per Boe, a 22% and 15% decrease, respectively, from the third quarter 2023.
- Oil and gas related capital expenditures of $0.5 million, equivalent to the spend in the third quarter 2023.
HOUSTON, March 21, 2024 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (NASDAQ: USEG, or the “Company”), a growth-focused energy company engaged in operating a portfolio of high-quality producing oil and natural gas assets, today announced that it will issue fourth quarter and year end 2023 results after the market closes on Tuesday, March 26, 2024.
Key Points:
- HOUSTON, March 21, 2024 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (NASDAQ: USEG, or the “Company”), a growth-focused energy company engaged in operating a portfolio of high-quality producing oil and natural gas assets, today announced that it will issue fourth quarter and year end 2023 results after the market closes on Tuesday, March 26, 2024.
- A conference call will be held Wednesday, March 27, 2024, at 9:00 a.m.
- ET to review the Company’s financial results, discuss recent events and conduct a question-and-answer session.
- A webcast of the conference call will be available in the Investor Relations section of the Company’s website at www.usnrg.com.
The repurchase program was originally approved in April 2023, and was to expire on June 30, 2024, which expiration date has now been extended until June 30, 2025.
Key Points:
- The repurchase program was originally approved in April 2023, and was to expire on June 30, 2024, which expiration date has now been extended until June 30, 2025.
- A total of up to approximately $4.2 million remains available under the repurchase program for future repurchases.
- The repurchase program may be suspended or discontinued at any time.
- “The continuation of this program supports our belief that the repurchase of the Company’s shares represents a highly attractive use of our capital.
Under the terms of the agreement, U.S. Energy will provide landfill-based RNG to SARTA’s fleet of 36 compressed natural gas (CNG) transit buses.
Key Points:
- Under the terms of the agreement, U.S. Energy will provide landfill-based RNG to SARTA’s fleet of 36 compressed natural gas (CNG) transit buses.
- “SARTA’s commitment to sustainability and alternative fuels sets an example for public transit systems across the country.
- We’re proud to partner with them on their RNG initiatives and pleased to help the agency achieve its decarbonization goals,” shared Scott Hanstedt, vice president of business development at U.S. Energy.
- “Our drive to sustainability began more than a decade ago when we decided to replace our diesel buses with vehicles powered by clean CNG,” SARTA CEO Kirt Conrad said.
HOUSTON, March 12, 2024 (GLOBE NEWSWIRE) -- U.S. Energy Corp (NASDAQ: USEG, “U.S.
Key Points:
- HOUSTON, March 12, 2024 (GLOBE NEWSWIRE) -- U.S. Energy Corp (NASDAQ: USEG, “U.S.
- Energy” or the “Company”), a growth-focused energy company engaged in operating a portfolio of high-quality producing oil and natural gas assets, announced today that it will be participating in the Sidoti Virtual Small Cap Conference on March 14, 2024.
- Ryan Smith, Chief Executive Officer of the Company, will present and host one-on-one meetings with investors at the conference.
Retrieved on:
Wednesday, January 24, 2024
Located on nearly 13,000 square feet of land between the terminal office and tank farm, the Fort Worth solar field consists of 312 400W bifacial solar modules that feed into a 124.8kW DC system.
Key Points:
- Located on nearly 13,000 square feet of land between the terminal office and tank farm, the Fort Worth solar field consists of 312 400W bifacial solar modules that feed into a 124.8kW DC system.
- While excess solar energy produced can be sold back to the grid, most will be used onsite.
- “We’re excited to see our first terminal solar project operational,” shared Dan Morrill, vice president of operations at U.S. Energy.
- Prioritizing sustainability, nearly 80% of its terminals that require vapor control have been updated to include vapor recovery units instead of vapor combustion units, including the company’s Fort Worth North terminal.
Retrieved on:
Wednesday, January 10, 2024
HOUSTON, Jan. 10, 2024 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (Nasdaq: USEG, “U.S.
Key Points:
- HOUSTON, Jan. 10, 2024 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (Nasdaq: USEG, “U.S.
- Energy” or the “Company”), a growth-focused energy company engaged in the operation of high-quality producing oil and natural gas assets, today announced it had completed a series of non-core asset divestitures.
- “Throughout the fourth quarter, we executed on a series of asset divestitures representing the majority of U.S. Energy’s non-operated assets,” stated Ryan Smith, Chief Executive Officer of U.S. Energy Corp. “The assets divested represent legacy USEG properties, primarily in current non-core focus areas, and will allow the Company to realize immediate additional corporate overhead savings.
- With proceeds going directly towards debt reduction, U.S. Energy now sits in a position of increased liquidity across all measures and meaningful portions of our 2024 oil production hedged at an average price in the low $80’s.
Retrieved on:
Wednesday, January 3, 2024
This transaction was between its exclusive jet fuel partner, Strataflex Midstream , an industrial services business specializing in rail logistics and energy-related midstream services.
Key Points:
- This transaction was between its exclusive jet fuel partner, Strataflex Midstream , an industrial services business specializing in rail logistics and energy-related midstream services.
- After receiving product from U.S. Energy, Strataflex has supplied Spirit Airlines with a jet fuel delivery at the Harry Reid International Airport (LAS) in Las Vegas, Nevada.
- “This marks our introduction to the Las Vegas jet fuel market.
- While this deal represents U.S. Energy’s first combined rail transloading and jet fuel deal, the company has jet fuel capabilities at some of its other owned terminal locations.
