US ENERGY (USEG) Company Report

U.S. Energy Corp. has made significant progress on its Kevin Dome project, establishing a resource position of approximately 80,000 net acres with estimated 1.3 trillion cubic feet (Tcf) of CO2 and 2.3 billion cubic feet (Bcf) of helium, and submitting Montana's first Monitoring, Reporting, and Verification (MRV) plans for Class II injection wells.
The company has three producing industrial gas wells and has completed the design and site acquisition for a processing facility with approximately 8.0 MMcf/d of inlet capacity, expected to produce approximately 12 million cubic feet of helium and 125,000 metric tons of refined CO2 annually at initial operations.
U.S. Energy Corp. is in discussions for a long-term helium offtake agreement, anticipated to finalize during the first quarter of 2026, and plans to use refined CO2 for enhanced oil recovery at its Cut Bank oil field, which held approximately 1.5 million barrels of oil equivalent (Mboe) of proved developed producing reserves with a PV-10 value of approximately $18.4 million as of year-end 2025.
Key catalysts for 2026 include the execution of the long-term helium offtake agreement, securing project-level financing, receiving MRV approvals, and completing gathering infrastructure.

3 days ago

U.S. Energy Corp. Reports Q3 2025 Results and Operational Progress

USEG

Earnings

New Projects/Investments

U.S. Energy Corp. reported a net loss of $3.3 million, or $0.10 per diluted share, and Adjusted EBITDA of ($1.3) million for the third quarter of 2025. Total oil and gas sales for the quarter were $1.7 million, a decrease from the prior year primarily due to asset divestitures.
The company advanced its Montana industrial gas project at Kevin Dome, drilling two additional industrial gas wells in Q3 2025, bringing the total to three high-deliverability wells with a combined peak rate of 12.2 MMcf/d.
The design for the initial gas processing facility is complete, with construction expected to begin in early 2026, and an EPA Monitoring, Reporting, and Verification (MRV) plan was submitted in October 2025 to capture federal carbon credits.
As of September 30, 2025, U.S. Energy Corp. maintained $11.4 million in available liquidity. An industrial gas resource report identified 1.28 BCF of net helium resources and 443.8 BCF of net CO2 resources at Kevin Dome.

Nov 12, 2025, 1:01 PM

U.S. Energy Corp. Reports Third Quarter 2025 Results

USEG

Earnings

New Projects/Investments

U.S. Energy Corp. reported a net loss of $3.3 million and Adjusted EBITDA of ($1.3) million for the third quarter of 2025, with total revenue decreasing to $1.7 million from $5.0 million in Q3 2024, primarily due to asset divestitures.
The Company made significant progress on its Montana industrial gas project, drilling two additional wells in Q3 2025, bringing the total to three high-deliverability wells with a combined peak rate of 12.2 MMcf/d (0.5% helium and 85% CO2).
The design for the initial gas processing facility is complete, with construction commencing in early 2026, and an EPA Monitoring, Reporting, and Verification (MRV) plan was submitted in October 2025 to capture federal carbon credits.
A recent industrial gas resource report identified 1.28 billion cubic feet of net helium resources and 443.8 billion cubic feet of net CO2 resources on the Kevin Dome asset.
As of September 30, 2025, the Company maintained $11.4 million in total liquidity, comprising a cash balance of $1.4 million and $10.0 million in credit facility availability.

Nov 12, 2025, 1:00 PM

U.S. Energy Corp. Enters into Common Stock Purchase Agreement with Roth Principal Investments, LLC

USEG

U.S. Energy Corp. entered into a Common Stock Purchase Agreement with Roth Principal Investments, LLC, dated October 9, 2025.
Under this agreement, the company has the right, but not the obligation, to sell up to $25,000,000 in aggregate gross purchase price of its common stock to Roth Principal Investments, LLC.
The net proceeds from any sales are planned for working capital and general corporate purposes.
The agreement includes an Exchange Cap, limiting the issuance to 7,123,382 shares (or 19.99% of outstanding shares immediately prior to the agreement), unless stockholder approval is obtained or the average price per share equals or exceeds $1.2788.
Roth Principal Investments, LLC is also restricted from beneficially owning more than 4.99% of the outstanding common stock.

Oct 9, 2025, 8:41 PM

U.S. Energy Corp. Amends Credit Agreement, Extends Maturity, and Lowers Borrowing Base

USEG

Debt Issuance

U.S. Energy Corp. entered into a First Amendment to its Credit Agreement with Firstbank Southwest, effective August 1, 2025, which extended the maturity date and lowered the borrowing base.
The maturity date for amounts owed under the Credit Agreement was extended from January 5, 2026, to May 31, 2029.
The borrowing base was lowered to $10,000,000.
The Lenders and Firstbank also waived certain technical defaults related to the Company's subsidiaries and its prior reorganization.
As of the report date, U.S. Energy Corp. owes $0 under the Credit Agreement.