US ENERGY CORP (USEG): M&A transaction — 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.

item 2.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

US ENERGY CORP completed a disposition involving 84 Resources Holdings, LLC for $6.825 million (closed 2024-12-31).

Action: disposition
Counterparty: 84 Resources Holdings, LLC
Consideration: $6.825 million
Closing: 2024-12-31

Exact text from the filing

property, permits, contracts, records and facilities, associated therewith located primarily in Liberty and Henderson Counties, Texas (the “ Property ”), in consideration for $6.825 million, subject to customary adjustments (the “ Purchase Price ” and the “ Sale ”). On December 31, 2024, the Company completed the Sale, and sold the Property to 84 Resources in

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Source: SEC EDGAR

accession 0001437749-24-038605

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