US ENERGY CORP (USEG): M&A transaction — U.S. Energy acquires 24,000 net acres in Kevin Dome for helium and CO2 production

US ENERGY CORP

Deal includes $2M cash, 1.4M restricted shares, and $20M carried working interest for Synergy's retained 20%.
Acreage is contiguous to USEG's existing 140,000 acres in the Kevin Dome region of Montana.
Synergy is controlled by USEG director Duane H. King and chairman John A. Weinzierl (related party).
Company plans two-well drilling program in 2025 targeting Duperow formation with economic helium concentrations.
Acquisition launches carbon sequestration business; USEG to receive 18% of tax credits from sequestration on the area.

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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 an acquisition involving Synergy Offshore LLC for $2.0 million in cash, subject to customary adjustments; (b) 1,400,000 shares of the Company’s restricted common stock (closed 2025-01-07).

Action: acquisition
Counterparty: Synergy Offshore LLC
Consideration: $2.0 million in cash, subject to customary adjustments; (b) 1,400,000 shares of the Company’s restricted common stock
Closing: 2025-01-07

Exact text from the filing

of Synergy’s right title and interest in the Property, and certain excluded assets (the “ Synergy Reserved Interest ”). The Property was acquired in consideration for (a) $2.0 million in cash, subject to customary adjustments; (b) 1,400,000 shares of the Company’s restricted common stock (representing 4.76% of the Company’s outstanding restricted common stock

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5 m&a transactions filed in the last 30 days. Browse all m&a transactions →

US ENERGY CORP filing history →

Source: SEC EDGAR

accession 0001437749-25-000795

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