U.S. Energy Q3 net loss $2.2M, turns debt-free; helium drilling begins

US ENERGY CORP

2024-Q3 EPS reported -$0.52 revenue$16,394,000

Net loss $2.2M ($0.08/share) on revenue $5.0M, down from $8.7M YoY on asset sales.
Adjusted EBITDA $1.8M, up from $1.7M; production averaged 1,149 Boe/d (58% oil).
Divested South Texas ($6.5M, Jul) and Kansas ($1.2M, Oct); repaid $7M credit facility, now debt-free with $21.2M liquidity.
Drilled first Montana industrial gas well; helium concentrations up to 1.5% in nitrogen-based formation.
Share repurchases: 0.9M shares (~3% of outstanding) at avg $1.17/share.

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