---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-009425"
form_type: "8-K"
ticker: "USEG"
cik: "0000101594"
company_name: "US ENERGY CORP"
filed_at: "2024-03-26T23:59:59+00:00"
generated_at: "2026-06-04T07:34:40.195225+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# U.S. Energy Corp posts FY2023 net loss $32.4M; revenue $32.3M, production 1,711 Boe/d

## Summary
- Full-year 2023 net loss $32.4M ($1.28/share) including $26.7M impairment; adjusted EBITDA $5.0M.
- Full-year revenue $32.3M (-27% YoY), production avg 1,711 Boe/d; oil sales $28.4M.
- Q4 2023 revenue $7.3M, production avg 1,509 Boe/d; adjusted EBITDA $1.4M; lease op cost $22.38/Boe.
- Divested non-core assets for $7.3M in Q4; used proceeds for debt paydown and share repurchases.
- Extended $5M share repurchase program to June 2025; repurchased 0.6M shares at avg $1.18.

## SEC filing metadata
- accession: 0001437749-24-009425
- form_type: 8-K
- ticker: USEG
- cik: 0000101594
- company_name: US ENERGY CORP
- filed_at: 2024-03-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/101594/000143774924009425/0001437749-24-009425-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/101594/000143774924009425/useg20231121_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-009425
- JSON: https://secwatch.observer/filing/0001437749-24-009425.json
- Plain text: https://secwatch.observer/filing/0001437749-24-009425.txt

## Key facts
- Earnings Releases
  US ENERGY CORP reported three and twelve months ended December 31, 2023 results: revenue $32.3 million.
  - Period: three and twelve months ended December 31, 2023
  - Revenue: $32.3 million
  - Result: reported results
  source text: twelve months ended December 31, 2023 . FULL YEAR 2023 HIGHLIGHTS ● Total daily production in 2023 averaged 1,711 Boe/d; oil production averaged 1,073 Bbl/d. ● Revenue totaled $32.3 million with oil sales of $28.4 million and natural gas and liquids sales of $4.0 million. ● Lease operating expense of $15.3 million , or $24.43 per Boe, a 8% and 9% decrease ,
  evidence_url: https://www.sec.gov/Archives/edgar/data/101594/000143774924009425/0001437749-24-009425-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.