U
US ENERGY CORP
USEGCIK 0000101594NasdaqNon-AcceleratedSmaller ReportingCrude Petroleum & Natural GasDelawareFY ends Dec 31
Period
FY 2025
Revenue
$7.35M
Net Income
$-14.37M
Total Assets
$40.63M
Equity
$24.20M
Shares Out
44.27M
Op. Cash Flow
$-7.14M
Business
US ENERGY CORP is an independent energy company focused on the acquisition, development and operation of oil, natural gas and industrial gas properties. It offers producing oil and natural gas assets, operated and non-operated interests, exploration and development services, and an industrial gas project involving acreage acquisition, well drilling and processing infrastructure evaluation. The company operates through two principal lines: oil and natural gas operations and industrial gas operations. Its activities are concentrated across the Rockies, Mid‑Continent, West and South Texas and Gulf Coast regions, with production marketed by industry partners to refiners and independent buyers.
Summary from filing dated 2025-03-13
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 7 | 21 | 32 | 45 | 7 | |
| Lease operating expenses | 5 | 11 | 15 | 17 | — | |
| Gathering, transportation, and treating | 59,000 | 205,000 | 557,000 | 573,000 | — | |
| Production taxes | 539,000 | 1 | 2 | 3 | — | |
| Depreciation, depletion, accretion, and amortization | 4 | 8 | 11 | 10 | — | |
| Impairment of oil and natural gas properties | 4 | 12 | 27 | 0 | — | |
| Exploration Expense | 230,000 | 369,000 | — | — | — | |
| General and administrative expenses | 8 | 8 | 12 | 11 | 5 | |
| Loss on sale of assets | 411,000 | 5 | 0 | — | — | |
| Total operating expenses | 22 | 46 | 67 | 41 | 8 | |
| Operating loss | −14 | −26 | −35 | 4 | −1 | |
| Commodity derivative gain, net | 0 | 537,000 | 3 | −6 | −260,000 | |
| Interest expense, net | −208,000 | −442,000 | −1 | −544,000 | −57,000 | |
| Other income (expense), net | 199,000 | −33,000 | 25,000 | −168,000 | 47,000 | |
| Total other income (expense) | −9,000 | 62,000 | 2 | −6 | −335,000 | |
| Net loss before income taxes | −14 | −26 | −33 | −3 | −2 | |
| Income tax (expense) benefit | −6,000 | −20,000 | 891,000 | 2 | — | |
| Net loss | −14 | −26 | −32 | −963,000 | −2 | |
| Basic and diluted weighted average shares outstanding (in shares) | 34 | 27 | 25 | 25 | 4 | |
| Basic and diluted loss per share (in dollars per share) | −0.43 | −0.96 | −1.28 | −0.04 | −0.39 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and equivalents | 429,000 | 8 | 3 | 4 | 4 | |
| Oil and natural gas sales receivables | 454,000 | 1 | 2 | 3 | 933,000 | |
| Marketable equity securities | 146,000 | 131,000 | 164,000 | 107,000 | 191,000 | |
| Other current assets | 956,000 | 572,000 | 527,000 | 558,000 | 179,000 | |
| Total current assets | 2 | 10 | 8 | 8 | 6 | |
| Evaluated properties | 132 | 142 | 177 | 203 | — | |
| Less accumulated depreciation, depletion and amortization | −117 | −113 | −107 | −97 | −88 | |
| Net oil and natural gas properties | 15 | 29 | 70 | 108 | 8 | |
| Unproved industrial gas properties, not subject to amortization | 22 | 9 | 0 | 2 | — | |
| Property and equipment, net | 318,000 | 660,000 | 899,000 | 651,000 | 188,000 | |
| Right of use asset | 356,000 | 528,000 | 693,000 | 868,000 | 120,000 | |
| Other assets | 270,000 | 300,000 | 305,000 | 354,000 | 132,000 | |
| Total other assets | 944,000 | 1 | 2 | 2 | 3 | |
| Total assets | 41 | 50 | 80 | 118 | 18 | |
| Accounts payable and accrued liabilities | 2 | 5 | 4 | 4 | 1 | |
| Accrued compensation and benefits | 54,000 | 850,000 | 702,000 | 1 | — | |
| Revenue and royalties payable | 4 | 5 | 5 | 4 | — | |
| Asset retirement obligations | 300,000 | 1 | 1 | 668,000 | — | |
| Current lease obligation | 210,000 | 196,000 | 182,000 | 189,000 | 114,000 | |
| Total current liabilities | 6 | 12 | 11 | 11 | 3 | |
| Credit facility | 3 | 0 | 5 | 12 | — | |
| Asset retirement obligations | 8 | 13 | 17 | 15 | 1 | |
| Long-term lease obligation | 206,000 | 415,000 | 611,000 | 794,000 | 19,000 | |
| Total noncurrent liabilities | 10 | 13 | 23 | 28 | 1 | |
| Total liabilities | 16 | 25 | 34 | 40 | 4 | |
| Commitments and contingencies (Note 9) | — | — | — | — | — | |
| Common stock, $0.01 par value; 245,000,000 authorized; 34,405,143 and 27,903,197 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 345,000 | 279,000 | 253,000 | 250,000 | 47,000 | |
| Additional paid-in capital | 236 | 221 | 218 | 217 | 149 | |
| Accumulated deficit | −212 | −198 | −172 | −139 | −136 | |
| Total shareholders equity | 24 | 24 | 47 | 78 | 13 | |
| Total liabilities and shareholders equity | 41 | 50 | 80 | 118 | 18 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation, depletion, accretion, and amortization | 4 | 8 | 11 | 10 | 589,000 | |
| Deferred income taxes | 0 | −16,000 | −882,000 | −2 | — | |
| Total commodity derivatives gains, net | 0 | −537,000 | −3 | 6 | — | |
| Commodity derivative settlements received | 0 | 2 | −656,000 | −7 | — | |
| (Gains) losses on marketable equity securities | −15,000 | 33,000 | −57,000 | 83,000 | — | |
| Amortization of debt issuance costs | 104,000 | 49,000 | 49,000 | 45,000 | — | |
| Stock-based compensation | 2 | 1 | 2 | 3 | 549,000 | |
| Right of use asset amortization | 173,000 | 165,000 | 175,000 | 205,000 | — | |
| Oil and natural gas sales receivable | 844,000 | 1 | 851,000 | −2 | −419,000 | |
| Other assets | 198,000 | −89,000 | 687,000 | 150,000 | 141,000 | |
| Accounts payable and accrued liabilities | −2 | 1 | −60,000 | 1 | −125,000 | |
| Accrued compensation and benefits | −796,000 | 148,000 | −410,000 | −51,000 | 850,000 | |
| Revenue and royalties payable | −485,000 | −21,000 | 1 | 3 | — | |
| Payments on operating lease liability | −196,000 | −182,000 | −189,000 | −104,000 | −92,000 | |
| Settlements of asset retirement obligations | −96,000 | −374,000 | −215,000 | −407,000 | −107,000 | |
| Net cash (used in) provided by operating activities | −7 | 5 | 5 | 11 | −153,000 | |
| Acquisition of industrial gas properties | −2 | −3 | 0 | — | — | |
| Proceeds from sale of oil and natural gas properties, net | 194,000 | 14 | — | — | — | |
| Sale of real estate and other, net | 0 | 128,000 | 0 | — | 440,000 | |
| Net cash (used in) provided by investing activities: | −12 | 6 | 3 | −17 | −3 | |
| Borrowings on credit facility | 3 | 2 | 500,000 | — | — | |
| Payments on credit facility | 0 | −7 | −8 | −7 | — | |
| Payments on insurance premium finance note | 0 | −62,000 | −647,000 | −559,000 | −199,000 | |
| Debt and equity financing costs | −386,000 | 0 | — | — | — | |
| Shares withheld to settle tax withholding obligations for restricted stock awards | −375,000 | −133,000 | −151,000 | 307,000 | −38,000 | |
| Related party share repurchase | −2 | 0 | — | — | — | |
| Proceeds from underwritten offering | 12 | 0 | — | — | 5 | |
| Repurchases of common stock | −316,000 | −788,000 | −368,000 | 0 | — | |
| Net cash provided by (used in) financing activities | 12 | −6 | −9 | 6 | 5 | |
| Net (decrease) increase in cash and equivalents | −7 | 4 | −1 | −11,000 | 2 |
Filings
Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro
Material Events
Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro
Insiders
Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro
Institutional Holders
Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro