US ENERGY CORP — fact timeline

Randall Keys departed as Director at US ENERGY CORP.

“Effective May 8, 2026, Randall Keys ceased to serve as a member of the Board of Directors (the “Board”) of U.S. Energy Corp. (the “Company”) upon the expiration of his term”

Randall Keys departed as Director at US ENERGY CORP.

“Effective May 8, 2026, Randall Keys ceased to serve as a member of the Board of Directors (the “Board”) of U.S. Energy Corp. (the “Company”) upon the expiration of his term”

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

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

US ENERGY CORP entered into Helium Sales Agreement with an investment-grade industrial gas company with global distribution infrastructure valued at fixed base price of $285.00 per thousand standard cubic feet (effective 2026-04-24).

“On April 24, 2026, U.S. Energy Corp. (“U.S. Energy,” “we,” “us” or the “Company”) entered into a Helium Sales Agreement (the “Helium Sales Agreement”) with an investment-grade industrial gas company with global distribution infrastructure (the “Counterparty”) for the sale of contained helium to be produced at the Company’s helium purification plant being constructed near Oilmont, Montana”

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).

“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”).”

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.

“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.”

US ENERGY CORP entered into Underwriting Agreement with Roth Capital Partners, LLC (effective 2026-03-09).

“On March 9, 2026, U.S. Energy Corp. (the “ Company ”) entered into an underwriting agreement (the “ Underwriting Agreement ”) with Roth Capital Partners, LLC (the “ Underwriter ”), relating to the previously announced underwritten offering of 8,800,000 shares of common stock, par value $0.01 per share, of the Company (the “ Common Stock ”), at a price to the public of $1.00 per share (such offering, the “ Offering ”).”

Joshua Batchelor resigned as Director at US ENERGY CORP.

“Subsequently on April 21, 2025, Mr. Batchelor resigned from the Board, effective immediately as of such date.”

US ENERGY CORP reported the three months ended March 31, 2024 results: revenue approximately $5.4 million, net income net loss of $9.5 million, or a loss of $0.38 per diluted share, EPS $0.38 per diluted share.

“Natural gas and liquids (Mcfe) $ 2.69 $ 3.06 BOE $ 49.10 $ 53.26 First QUARTER 2024 FINANCIAL RESULTS Total oil and gas sales during the first quarter of 2024 were approximately $5.4 million , compared to $8.3 million in the first quarter of 2023 . The decrease in revenue was primarily due to a decrease in our production quantities related to the asset divestiture”