US ENERGY CORP
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
BSIN$1.31-1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets (unaudited)
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)
| June 30, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and equivalents | $2,223 | $3,351 |
| Oil and natural gas sales receivables | 1,902 | 2,336 |
| Marketable equity securities | 159 | 164 |
| Commodity derivative asset -current | - | 1,844 |
| Other current assets | 905 | 527 |
| Real estate assets held for sale, net of selling costs | - | 150 |
| Total current assets | 5,189 | 8,372 |
| Oil, natural gas and helium properties under full cost method: | ||
| Proved oil and natural gas properties | 171,480 | 176,679 |
| Less accumulated depreciation, depletion and amortization | (109,950) | (106,504) |
| Net oil and natural gas properties | 61,530 | 70,175 |
| Unproved helium properties, not subject to amortization | 5,046 | - |
| Net oil, natural gas and helium properties | 66,576 | 70,175 |
| Other Assets: | ||
| Property and equipment, net | 786 | 899 |
| Right-of-use asset | 612 | 693 |
| Other assets | 514 | 305 |
| Total assets | $73,677 | $80,444 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $3,814 | $4,064 |
| Accrued compensation and benefits | 436 | 702 |
| Revenue and royalties payable | 4,822 | 4,857 |
| Commodity derivative liability - current | 97 | - |
| Asset retirement obligations - current | 1,000 | 1,273 |
| Current lease obligation | 189 | 182 |
| Total current liabilities | 10,358 | 11,078 |
| Noncurrent liabilities: | ||
| Credit facility | 7,000 | 5,000 |
| Asset retirement obligations - noncurrent | 17,983 | 17,217 |
| Commodity derivative liability - noncurrent | 77 | - |
| Long-term lease obligation, net of current portion | 515 | 611 |
| Deferred tax liability | 16 | 16 |
| Total liabilities | 35,949 | 33,922 |
| Commitments and contingencies (Note 8) | ||
| Shareholders’ equity: | ||
| Common stock, $0.01 par value; 245,000,000 shares authorized; 28,052,959 and 25,333,870 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively | 281 | 253 |
| Additional paid-in capital | 221,092 | 218,403 |
| Accumulated deficit | (183,645) | (172,134) |
| Total shareholders’ equity | 37,728 | 46,522 |
| Total liabilities and shareholders’ equity | $73,677 | $80,444 |
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