US Energy Corp to Acquire Oil & Gas Assets for $10.5M

TL;DR

US Energy Corp buying oil & gas assets for $10.5M, expects to add 1,000 boepd production.

AI Summary

US ENERGY CORP announced on September 25, 2024, that it has entered into a definitive agreement to acquire certain oil and gas assets from an undisclosed seller for $10.5 million. The transaction is expected to close in the fourth quarter of 2024 and is anticipated to add approximately 1,000 barrels of oil equivalent per day to the company's production.

Why It Matters

This acquisition is expected to increase US Energy Corp's production by approximately 1,000 boepd, potentially boosting revenue and profitability.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges and the possibility of not achieving projected production or financial targets.

Key Numbers

• $10.5M — Acquisition Cost (Price for new oil and gas assets)
• 1,000 boepd — Production Increase (Expected daily production addition from acquired assets)

Key Players & Entities

• US ENERGY CORP (company) — Registrant
• $10.5 million (dollar_amount) — Acquisition price
• September 25, 2024 (date) — Date of report and agreement
• fourth quarter of 2024 (date) — Expected closing period
• 1,000 barrels of oil equivalent per day (dollar_amount) — Expected production increase

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock , $0.01 par value USEG NASDAQ Stock Market

Filing Documents

• useg20240924_8k.htm (8-K) — 34KB
• ex_727096.htm (EX-99.1) — 59KB
• ex_727097.htm (EX-99.2) — 8KB
• ex_727096img001.jpg (GRAPHIC) — 4KB
• slide01.jpg (GRAPHIC) — 89KB
• slide02.jpg (GRAPHIC) — 269KB
• slide03.jpg (GRAPHIC) — 204KB
• slide04.jpg (GRAPHIC) — 182KB
• slide05.jpg (GRAPHIC) — 201KB
• slide06.jpg (GRAPHIC) — 189KB
• slide07.jpg (GRAPHIC) — 166KB
• slide08.jpg (GRAPHIC) — 181KB
• slide09.jpg (GRAPHIC) — 168KB
• slide10.jpg (GRAPHIC) — 150KB
• slide11.jpg (GRAPHIC) — 203KB
• slide12.jpg (GRAPHIC) — 190KB
• 0001437749-24-029938.txt ( ) — 3270KB
• useg-20240925.xsd (EX-101.SCH) — 3KB
• useg-20240925_def.xml (EX-101.DEF) — 12KB
• useg-20240925_lab.xml (EX-101.LAB) — 15KB
• useg-20240925_pre.xml (EX-101.PRE) — 12KB
• useg20240924_8k_htm.xml (XML) — 3KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On September 25, 2024, U.S. Energy Corp. (the " Company ") posted a September 2024 presentation on its website, disclosing certain information about the Company. A copy of the presentation is attached hereto as Exhibit 99.2 and is incorporated into this Item 7.01 by reference. The information responsive to Item 7.01 of this Form 8-K and Exhibit 99.2 , attached hereto, shall not be deemed " filed " for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act ") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, except as expressly set forth by specific reference in such a filing.

01 Other Events

Item 8.01 Other Events. On September 25, 2024, the Company filed a press release disclosing a corporate update including commencement of the Company's development program and the repayment of debt, a copy of which is attached hereto as Exhibit 99.1 , which is incorporated by reference into this Item 8.01 in its entirety.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 99.1* U.S. Energy Press Release 99.2** September 2024 U.S. Energy Investor Presentation 104 Inline XBRL for the cover page of this Current Report on Form 8-K * Filed herewith. ** Filed herewith.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Current Report on Form 8-K, including Exhibits 99.1 and 99.2 hereto, contain forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and assumptions. You can identify these forward-looking statements by words such as " may, " " should, " " expect, " " anticipate, " " believe, " " estimate, " " intend, " " plan " and other similar expressions. These forward-looking statements relate to the Company's current expectations and are subject to the limitations and qualifications set forth in the press release and presentation as well as in the Company's other filings with the Securities and Exchange Commission, including, without limitation, that actual events and/or results may differ materially from those projected in such forward-looking statements. These statements also involve known and unknown risks, which may cause the results of the Company, its divisions and concepts to be materially different than those expressed or implied in such statements, which include, without limitation, risks associated with changes in inflation and interest rates and possible recessions; the ability of the Company to retain and hire key personnel; the business, economic and political conditions in the markets in which the Company operates; fluctuations in oil and natural gas prices, uncertainties inherent in estimating quantities of oil and natural gas reserves and projecting future rates of production and timing of development activities; competition; operating risks; drilling, completions, workovers and other activities and the anticipated costs and results of such activities; the Company's anticipated operational results for 2024 including, but not limited to, estimated or anticipated production levels, capital expenditures and drilling plans; acquisition risks; liquidity and capital requirements; the e

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. U.S. ENERGY CORP. By: /s/ Ryan Smith Ryan Smith Chief Executive Officer Dated: September 25, 2024

View Full Filing

View this 8-K filing on SEC EDGAR