U.S. Energy reports Q4 revenue up 15% vs. last year to $4.2M

Total Q4 daily production averaged 971 Boe/d; oil production averaged 595 Bbl/d. “2024 was a defining year for U.S. Energy (USEG) as we began the development of our newly acquired industrial gas focused assets,” said CEO Ryan Smith. “Through disciplined execution, we strengthened our financial position, eliminated all outstanding debt, optimized our legacy asset portfolio, and made significant strides in advancing our Montana-based industrial gas project by acquiring over 160,000 acres in 2024 and early-2025 across two separate acquisitions. Our most recent acquisition of 24,000 additional net acres in early-2025 further solidifies our position as an emerging leader in the industrial gas development space. Looking ahead, we are focused on scaling our operations, executing new drilling and workover programs, finalizing our gas processing infrastructure, advancing our carbon sequestration initiatives, and leveraging our growing asset base to drive sustainable growth. With a strong balance sheet, zero debt, and a clear strategic roadmap, we are confident in our ability to generate long-term shareholder value while positioning U.S. Energy as a first mover in the rapidly growing industrial gas complex.”