US ENERGY CORP

For the period ended Sep 30, 2024. Filed Nov 12, 2024.

About this filing

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.

Sep 30, 2024 · Filed Nov 12, 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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Contents

Condensed Consolidated Balance Sheets (unaudited)

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

	September 30, 2024	December 31, 2023
ASSETS
Current assets:
Cash and equivalents	$1,155	$3,351
Oil and natural gas sales receivables	1,416	2,336
Marketable equity securities	107	164
Commodity derivative asset	-	1,844
Other current assets	708	527
Real estate assets held for sale, net of selling costs	-	150
Total current assets	3,386	8,372
Oil, natural gas and helium properties under full cost method:
Proved oil and natural gas properties	163,554	176,679
Less accumulated depreciation, depletion and amortization	(111,531)	(106,504)
Net oil and natural gas properties	52,023	70,175
Unproved helium properties, not subject to amortization	6,931	-
Net oil, natural gas and helium properties	58,954	70,175
Other Assets:
Property and equipment, net	725	899
Right-of-use asset	570	693
Other assets	441	305
Total assets	$64,076	$80,444
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$4,312	$4,064
Accrued compensation and benefits	610	702
Revenue and royalties payable	4,769	4,857
Asset retirement obligations	1,000	1,273
Current lease obligation	193	182
Total current liabilities	10,884	11,078
Noncurrent liabilities:
Credit facility	-	5,000
Asset retirement obligations	16,991	17,217
Long-term lease obligation, net of current portion	466	611
Deferred tax liability	1	16
Total liabilities	28,342	33,922
Commitments and contingencies (Note 8)
Shareholders’ equity:
Common stock, $0.01 par value; 245,000,000 shares authorized; 28,035,613 and 25,333,870 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	280	253
Additional paid-in capital	221,346	218,403
Accumulated deficit	(185,892)	(172,134)
Total shareholders’ equity	35,734	46,522
Total liabilities and shareholders’ equity	$64,076	$80,444

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.