U.S. Energy Corp. reports Q3 net loss, initiates strategic alternatives review

US ENERGY CORP

Net loss of $8.8M ($0.35 diluted EPS) vs net income of $4.1M ($0.16) in Q3 2022.
Adjusted EBITDA fell to $1.6M from $3.1M in Q3 2022; revenue down 26% to $8.7M.
Q3 production averaged 1,652 Boe/d, a 6% decrease YoY; oil represented 66% of production.
Board formally initiates review of strategic alternatives; no definitive timetable set.
Debt outstanding $12M on credit facility, cash $2.0M as of Sept 30, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

US ENERGY CORP reported financial results for the three months ended September 30, 2023.

Period: the three months ended September 30, 2023
Result: reported results

Exact text from the filing

On November 13, 2023, U.S. Energy Corp. (“ U.S. Energy ” or the “ Company ”) issued a press release regarding its financial results for the three months ended September 30, 2023.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

US ENERGY CORP filing history →

Source: SEC EDGAR

accession 0001437749-23-031625

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