USEG Q1 net loss $3.2M; advances Big Sky Carbon Hub with FID and helium offtake

US ENERGY CORP

Net loss $3.2M ($0.08/diluted share); revenue $1.6M down 27% YoY; production 34,290 BOE vs 47,008 BOE Q1 2025.
Achieved Final Investment Decision on Phase 1 processing facility at Big Sky Carbon Hub; EPC contract with CANUSA; first gas target Q1 2027.
Signed five-year, 100% take-or-pay helium offtake agreement at $285/Mcf with investment-grade counterparty; CPI escalation from March 2028.
Phase 1 capital stack completed: borrowing base doubled to $20M, equity line of credit suspended; liquidity $27.9M as of April 30.
MRV applications in active EPA review; expects summer 2026 approval for Section 45Q credits (~$130M over 12 years of Phase 1).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

US ENERGY CORP reported first quarter 2026 results: revenue $1.6 million.

Period: first quarter 2026
Revenue: $1.6 million
Result: reported results

Exact text from the filing

For the first quarter 2026 revenue totaled $1.6 million (84% oil), compared to first quarter of 2025 revenue of $2.2 million.

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Source: SEC EDGAR

accession 0001437749-26-015351

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