US ENERGY CORP
For the period ended Sep 25, 2024. Filed Sep 25, 2024.
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Sep 25, 2024 · Filed Sep 25, 2024
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EX-99.1 · COMMENCEMENT OF DEVELOPMENT PROGRAM
COMMENCEMENT OF DEVELOPMENT PROGRAM
U.S. Energy has commenced the initial development program targeting helium and various other industrial gases across the Kevin Dome structure in Northwest Montana. The Company will target and test several pay zones which it believes to be economic, including multiple Duperow, Souris River, and Flathead formations. U.S. Energy owns approximately 82.5% of the working interest across the Company’s initial development area.
Additionally, the Company continues to make progress on its carbon sequestration initiatives and have begun the planning and engineering phase of U.S. Energy-owned infrastructure to both sequester and monetize carbon. Along with carbon sequestration, U.S. Energy believes there is significant economic upside in its development plan through the monetization of both carbon dioxide and nitrogen to meet the growing demand domestically and plans to pursue these avenues going forward.
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