U.S. Energy Corp.

U.S. Energy Corp. today announced initial production results from its recently announced horizontal drilling program on its existing acreage position targeting the development of the Georgetown formation in Zavala and Dimmit Counties, Texas. This is the second participation well for the Company in the development program. In Zavala County, Texas, the J. Beeler #1H, an approximate 26,000 foot total measured depth [...]

U.S. Energy Corp. today announced financial and operational results for the third quarter ended September 30, 2018. Highlights Production of 21,131 BOE, or daily production of 230 BOEPD; Oil and gas revenues of $1.2 million; Lease operating expenses of $0.4 million; Cash and cash equivalents of $3.0 million at 9/30/2018; Adjusted EBITDA of $0.2 million, and; Net income of $0.5 million. Management Comment David Veltri [...]

via NEWMEDIAWIRE – U.S. Energy Initiatives Corporation, Inc. , USEI announces the ownership of 52,766.66 Sumcoins; management further announces that in 2017 it entered into agreement for 3.6 Million aged USEI shares for crypto assets in an early stage crypto software venture. The resulting asset, known as Sumcoin. SUM is a decentralized mineable coin very similar to Bitcoin and Litecoin wherein its value is [...]

U.S. Energy Corp. today announced its participation in and the spudding of the Company’s first drilling prospect of 2018 targeting the Georgetown formation in Zavala County, Texas. The J. Beeler No. 1 was spudded on October 18, 2018 and is expected to be drilled to total depth in approximately three weeks. U.S. Energy holds a 30% working interest in the well and will fund its portion of the drilling through existing [...]

U.S. Energy Corp. today announced that it has entered into an exclusive non-binding Memorandum of Understanding to acquire oil and natural gas producing properties targeting the Bakken formation of North Dakota. Overview The Company has entered into a Memorandum Of Understanding with APEG I Partners, a Texas partnership , to acquire all of APEG’s interest in 67 wells concentrated in Williams and McKenzie Counties [...]

U.S. Energy Corp. today announced financial and operational results for the second quarter ended June 30, 2018. Highlights Production of 36,061 BOE, or daily production of 396 BOEPD; Oil and gas revenues of $1.6 million; Lease operating expenses of $0.5 million or $12.81 per BOE; Cash and cash equivalents of $2.8 million at 6/30/2018; Total outstanding debt of $0.9 million at 6/30/2018; Recently entered into agreement to [...]

DENVER, May 14, 2018 -- U.S. Energy Corp. today announced financial and operational results for the first quarter ended March 31, 2018. Highlights Production of 37,413 BOE, or daily production of 416 BOEPD, a 5% sequential increase; Oil and gas revenues of $1.6 million, a 23% sequential increase; Lease operating expenses of $0.4 million or $11.33 per BOE; Cash and cash equivalents of $2.1 million at 3/31/2018; Total [...]

DENVER, March 28, 2018 -- U.S. Energy Corp. today announced financial and operational results for the year and fourth quarter ended December 31, 2017. In addition, the Company announced its estimated proved reserves as of December 31, 2017. Highlights 2017 Production of 186,676 BOE, or daily production of 511 BOEPD; 4Q2017 Production of 35,789 BOE, or daily production of 389 BOEPD; 2017 Oil and gas revenue of $6.6 [...]

DENVER, Jan. 12, 2018 -- U.S. Energy Corp. today announced initial production results from its recently announced participation in the horizontal drilling program on its existing acreage position targeting the development of the Georgetown formation in Zavala and Dimmit Counties, Texas. In Zavala County, Texas, the Beeler Ranch #1H, an approximate 26,000 foot total measured depth dual-lateral well targeting the Georgetown [...]

SANTA CLARITA, CA, Jan. 02, 2018 -- USEI CANNABIS INITIATIVES CORP, a wholly owned subsidiary of a California based company, poised to capitalize on California’s legal cannabis industry focusing on the manufacturing and extraction of oil from cannabis is pleased to announce today that its Board of Directors has declared two dividends in the form of warrants to purchase shares of the Company's common stock; a 1 for [...]