US ENERGY CORP (USEG): debt financing — U.S. Energy closes expanded $20M credit facility, suspends ELOC, completes Big Sky Phase 1 funding

US ENERGY CORP

Borrowing base under credit agreement expanded from $10M to $20M; interest at ABR + 2.00%.
Financial covenant testing suspended until fiscal quarter ending March 31, 2027; maturity May 31, 2029.
Equity line of credit (ELOC) formally suspended; last draw on March 2, 2026 at avg $1.16/share; addresses dilution overhang.
Phase 1 capital stack for Big Sky Carbon Hub complete; initial commercial operations targeted Q1 2027.
Two MRV plans for Class II injection wells submitted to EPA; decisions anticipated summer 2026 for Section 45Q framework.

item 1.01 item 2.03 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

US ENERGY CORP amended revolving credit of Borrowing base increased from $10,000,000 to $20,000,000; currently $2,500,000 outstanding with Firstbank Southwest as administrative agent and the Lenders at Alternate base rate (ABR) plus applicable margin of 2.00% per annum; additional maturing May 31, 2029.

Instrument: revolving credit
Principal: Borrowing base increased from $10,000,000 to $20,000,000; currently $2,500,000 outstanding
Counterparty: Firstbank Southwest as administrative agent and the Lenders
Rate: Alternate base rate (ABR) plus applicable margin of 2.00% per annum; additional
Maturity: May 31, 2029
Event: amendment

Exact text from the filing

On April 17, 2026, the Company entered into a Second Amendment to Credit Agreement with Firstbank, as administrative agent for the Lenders, and the Lenders (the “Second Amendment”). Pursuant to the Second Amendment, the Credit Agreement was amended to: (a) Increase the borrowing base under the Credit Agreement from $10,000,000 to $20,000,000; (b) Amend the applicable margin used to calculate the interest rate on outstanding borrowings under the Credit Agreement to a fixed 2.00% per annum (as further described below); (c) Suspend testing of the financial covenants under the Credit Agreement until the fiscal quarter ending March 31, 2027; and (d) Make certain other changes to the Credit Agreement as described in greater detail in the Second Amendment.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

US ENERGY CORP amended Second Amendment with Firstbank Southwest valued at increase the borrowing base ... from $10,000,000 to $20,000,000 (effective 2026-04-17).

Action: amendment
Agreement: credit facility
Counterparty: Firstbank Southwest
Value: increase the borrowing base ... from $10,000,000 to $20,000,000
Effective: 2026-04-17

Exact text from the filing

On April 17, 2026, the Company entered into a Second Amendment to Credit Agreement with Firstbank, as administrative agent for the Lenders, and the Lenders (the “Second Amendment”).

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10 debt financings filed in the last 30 days. Browse all debt financings →

US ENERGY CORP filing history →

Source: SEC EDGAR

accession 0001437749-26-012760

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