U.S. Energy Corp. completes $6.825M sale of East Texas oil/gas assets to 84 Resources

US ENERGY CORP

All-cash proceeds of $6.825M; closed Dec 31, 2024 with effective date Nov 1, 2024; funds Montana industrial gas project.
Divested 122 wells averaging ~1.0 MMcf/d natural gas and 149 bbl/d oil (Q3 2024).
Pro forma shows ~$3.1M loss on disposal; shareholders’ equity reduced by $3.136M.
CEO states proceeds strengthen balance sheet, enabling pivot to industrial gas company.

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