US ENERGY CORP
For the period ended Aug 7, 2024. Filed Aug 7, 2024.
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Aug 7, 2024 · Filed Aug 7, 2024
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EX-99.1 · EXISTING HEDGE PROGRAM
EXISTING HEDGE PROGRAM
The Company previously entered into fixed priced crude oil swaps with outstanding settlement dates from the third quarter of 2024 through the fourth quarter of 2024 with a weighted average swap price of $79.02/bbl oil.
On April 2, 2024, the Company entered into fixed price crude oil swaps with outstanding settlement dates from the first quarter of 2025 to the fourth quarter of 2025 with a weighted average swap price of $73.71/bbl oil. The following table reflects the Company's hedged volumes under commodity derivative contracts and the average floor and ceiling or fixed swap prices at which production is hedged as of August 7, 2024:
| Swaps | |||
|---|---|---|---|
| Period | Commodity | Volume (Bbls) | Price ($/bbl) |
| Q3 2024 | Crude Oil | 45,000 | $79.80 |
| Q4 2024 | Crude Oil | 40,720 | $78.15 |
| Q1 2025 | Crude Oil | 45,000 | $75.73 |
| Q2 2025 | Crude Oil | 43,225 | $74.19 |
| Q3 2025 | Crude Oil | 39,100 | $72.82 |
| Q4 2025 | Crude Oil | 36,800 | $71.64 |
ABOUT U.S. ENERGY CORP.
We are a growth company focused on consolidating high-quality producing assets in the United States with the potential to optimize production and generate free cash flow through low-risk development while maintaining an attractive shareholder returns program. We are committed to being a leader in reducing our carbon footprint in the areas in which we operate. More information about U.S. Energy Corp. can be found atwww.usnrg.com.
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