---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-015701"
form_type: "8-K"
ticker: "USEG"
cik: "0000101594"
company_name: "US ENERGY CORP"
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T04:38:44.213367+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# U.S. Energy Corp reports Q1 net loss of $9.5M; revenue down 35% YoY

## Summary
- Net loss of $9.5M ($0.38/diluted share) vs net loss of $1.3M a year ago; includes $5.4M non-cash impairment.
- Revenue of $5.4M, down from $8.3M in Q1 2023 due to asset divestiture, weather downtime, and 8% lower realized prices.
- Production averaged 1,207 Boe/d; weather-related downtime of 125-150 Boe/d from East Texas/Gulf Coast flooding.
- Adjusted EBITDA fell to $0.2M from $1.2M; lease operating expense improved 28% to $3.2M ($29.02/Boe).
- Repurchased ~0.3M shares (1.5% of outstanding); ended Q1 with $2M cash, $5M debt, $17M liquidity.

## SEC filing metadata
- accession: 0001437749-24-015701
- form_type: 8-K
- ticker: USEG
- cik: 0000101594
- company_name: US ENERGY CORP
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/101594/000143774924015701/0001437749-24-015701-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/101594/000143774924015701/useg20240325_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-015701
- JSON: https://secwatch.observer/filing/0001437749-24-015701.json
- Plain text: https://secwatch.observer/filing/0001437749-24-015701.txt

## Key facts
- Earnings Releases
  US ENERGY CORP reported the three months ended March 31, 2024 results: revenue approximately $5.4 million, net income net loss of $9.5 million, or a loss of $0.38 per diluted share, EPS $0.38 per diluted share.
  - Period: the three months ended March 31, 2024
  - Revenue: approximately $5.4 million
  - Net income: net loss of $9.5 million, or a loss of $0.38 per diluted share
  - EPS: $0.38 per diluted share
  - Result: reported results
  source text: Natural gas and liquids (Mcfe) $ 2.69 $ 3.06 BOE $ 49.10 $ 53.26 First QUARTER 2024 FINANCIAL RESULTS Total oil and gas sales during the first quarter of 2024 were approximately $5.4 million , compared to $8.3 million in the first quarter of 2023 . The decrease in revenue was primarily due to a decrease in our production quantities related to the asset divestiture
  evidence_url: https://www.sec.gov/Archives/edgar/data/101594/000143774924015701/0001437749-24-015701-index.htm

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