USEG Q2 net loss $2.0M, revenue $6.0M; acquires 140K net acres for helium in Montana

US ENERGY CORP

2024-Q2 EPS reported -$0.45 revenue$11,437,000

Net loss of $2.0M ($0.08/diluted share) vs. adjusted EBITDA of $1.1M; revenue $6.0M (90% oil).
Closed acquisition of 140,000 net acres for helium/industrial gas in Montana on June 26; signed LOI for additional 24,000 contiguous acres.
Post-quarter closed South Texas divestiture for $6.5M; used proceeds to pay down $5M debt, exiting net debt free with $20M liquidity.
Q2 production averaged 1,221 Boe/d (64% oil); LOE down 18% YoY to $3.1M ($27.69/Boe).
Mid-year proved reserves 3.5 Mboe (100% PDP, 69% oil) with PV-10 of $50.9M at SEC pricing.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.