U.S. Energy Q2 net loss $2.5M; record production 1,959 Boe/d, revenue down 41% YoY

US ENERGY CORP

2023-Q2 EPS reported -$0.15 revenue$16,251,000

Net loss of $2.5M ($0.10 diluted EPS) vs net income of $0.1M in Q2 2022; adjusted EBITDA $0.8M vs $5.1M.
Record daily production 1,959 Boe/d, up 10% YoY; oil 114,900 bbls (64% of total).
LOE $3.9M ($21.75/Boe), down 17% and 24% YoY respectively.
Revenue $8.0M, down from $13.5M due to 46% lower realized prices.
Initiated $5M share buyback, repurchased 163,300 shares at $1.48; dividend suspended.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

US ENERGY CORP reported three months ended June 30, 2023 results: revenue Total oil and gas sales during the second quarter of 2023 were approximately $8.0 million, net income The Company reported a net loss of $2.5 million, or a loss of $0.10 per diluted share, in the second quarter of 2023, EPS loss of $0.10 per diluted share.

Period: three months ended June 30, 2023
Revenue: Total oil and gas sales during the second quarter of 2023 were approximately $8.0 million
Net income: The Company reported a net loss of $2.5 million, or a loss of $0.10 per diluted share, in the second quarter of 2023
EPS: loss of $0.10 per diluted share
Result: reported results

Exact text from the filing

The Company reported a net loss of $2.5 million, or a loss of $0.10 per diluted share, in the second quarter of 2023, compared to net income of $0.1 million, or $0.00 per share, in the second quarter of 2022.

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Source: SEC EDGAR

accession 0001493152-23-027973

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