US ENERGY CORP
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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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.
Sep 30, 2025 · Filed Nov 12, 2025
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Condensed Consolidated Statements of Cash Flows (unaudited)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THEnine months ended September 30, 2025 and 2024
(in thousands)
| 2025 | 2024 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | $(12,510) | $(13,758) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Depreciation, depletion, accretion, and amortization | 3,053 | 6,392 |
| Impairment of oil and natural gas properties | 3,628 | 6,843 |
| Loss on sale of assets | 434 | - |
| Deferred income taxes | - | (14) |
| Total commodity derivatives losses, net | - | (537) |
| Commodity derivative settlements received | - | 2,381 |
| Loss (gain) on marketable equity securities | (180) | 57 |
| Impairment and loss on real estate held for sale | - | 11 |
| Amortization of debt issuance costs | 100 | 37 |
| Stock-based compensation | 1,454 | 950 |
| Right-of-use asset amortization | 129 | 123 |
| Changes in operating assets and liabilities: | ||
| Oil and natural gas sales receivable | 807 | 920 |
| Accounts payable and accrued liabilities | (1,792) | 80 |
| Accrued compensation and benefits | (791) | (91) |
| Other operating assets and liabilities, net | (613) | (503) |
| Net cash provided by (used in) operating activities | (6,281) | 2,891 |
| Cash flows from investing activities: | ||
| Acquisition of industrial gas properties | (2,128) | (2,368) |
| Industrial gas capital expenditures | (7,653) | (1,599) |
| Oil and natural gas capital expenditures | (18) | (1,158) |
| Property and equipment expenditures | (4) | (189) |
| Net proceeds from sale of oil and natural gas properties | 134 | 5,866 |
| Proceeds from sale of real estate assets | - | 139 |
| Net cash provided by (used in) investing activities | (9,668) | 691 |
| Cash flows from financing activities: | ||
| Borrowings on credit facility | - | 2,000 |
| Payments on credit facility | - | (7,000) |
| Payments on insurance premium finance note | - | (62) |
| Tax withholding for restricted stock awards vesting | (346) | (132) |
| Repurchases of common stock | (316) | (584) |
| Related party share repurchase | (1,574) | - |
| Proceeds from underwritten offering | 11,877 | - |
| Net cash provided by (used in) financing activities | 9,641 | (5,778) |
| Net change in cash and equivalents | (6,308) | (2,196) |
| Cash and equivalents, beginning of period | 7,723 | 3,351 |
| Cash and equivalents, end of period | $1,415 | $1,155 |
The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements. Please seeNote-15- Supplemental Disclosures of Cash Flow Information.
U.S. ENERGY CORP. AND SUBSIDIARIES
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
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