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
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Condensed Consolidated Statements of Operations (unaudited)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE three and six months ended June 30, 2024 and 2023
(In thousands, except share and per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue: | ||||
| Oil | $5,472 | $7,028 | $10,199 | $14,124 |
| Natural gas and liquids | 574 | 950 | 1,238 | 2,127 |
| Total revenue | 6,046 | 7,978 | 11,437 | 16,251 |
| Operating expenses: | ||||
| Lease operating expenses | 3,076 | 3,739 | 6,262 | 8,148 |
| Gathering, transportation and treating | 63 | 138 | 127 | 252 |
| Production taxes | 367 | 538 | 710 | 1,058 |
| Depreciation, depletion, accretion and amortization | 2,165 | 2,896 | 4,360 | 5,313 |
| Impairment of oil and natural gas properties | - | - | 5,419 | - |
| General and administrative expenses | 2,091 | 3,368 | 4,297 | 6,140 |
| Total operating expenses | 7,762 | 10,679 | 21,175 | 20,911 |
| Operating income (loss) | (1,716) | (2,701) | (9,738) | (4,660) |
| Other income (expense): | ||||
| Commodity derivative gain (loss), net | (112) | 288 | (1,493) | 1,208 |
| Interest (expense), net | (131) | (289) | (251) | (558) |
| Other income (expense), net | (19) | (22) | (15) | (22) |
| Total other income (expense) | (262) | (23) | (1,759) | 628 |
| Net income (loss) before income taxes | $(1,978) | $(2,724) | $(11,497) | $(4,032) |
| Income tax (expense) benefit | 4 | 209 | (14) | 270 |
| Net income (loss) | $(1,974) | $(2,515) | $(11,511) | $(3,762) |
| Basic and diluted weighted average shares outstanding | 25,452,814 | 25,186,797 | 25,420,517 | 25,182,704 |
| Basic and diluted income (loss) per share | $(0.08) | $(0.10) | $(0.45) | $(0.15) |
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