US ENERGY CORP
For the period ended Mar 31, 2026. Filed May 7, 2026.
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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.
Mar 31, 2026 · Filed May 7, 2026
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Condensed Consolidated Statements of Cash Flows (unaudited)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THEthree months ended March 31, 2026 and 2025
(in thousands)
| 2026 | 2025 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | $(3,185) | $(3,111) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Depreciation, depletion, accretion, and amortization | 559 | 1,119 |
| Loss (gain) on marketable equity securities | (22) | 66 |
| Amortization of debt issuance costs | 4 | 23 |
| Stock-based compensation | 446 | 471 |
| Right-of-use asset amortization | 45 | 42 |
| Changes in operating assets and liabilities: | ||
| Oil and natural gas sales receivable | (260) | 689 |
| Accounts payable and accrued liabilities | 200 | (2,580) |
| Accrued compensation and benefits | (19) | (747) |
| Other operating assets and liabilities, net | (170) | (468) |
| Payments on operating lease liability | (51) | (48) |
| Net cash used in operating activities | (2,452) | (4,544) |
| Cash flows from investing activities: | ||
| Acquisition of industrial gas properties | - | (2,128) |
| Industrial gas capital expenditures | (4,383) | (277) |
| Oil and natural gas capital expenditures | (48) | (14) |
| Property and equipment expenditures | - | (3) |
| Net cash used in investing activities | (4,431) | (2,422) |
| Cash flows from financing activities: | ||
| Financing costs | (114) | - |
| Shares withheld to settle tax withholding obligations for restricted stock awards | (170) | (324) |
| Repurchases of common stock | - | (234) |
| Related party share repurchase | - | (1,574) |
| Proceeds from underwritten offering | 8,086 | 11,877 |
| Proceeds from committed equity facility | 9,103 | - |
| Net cash provided by financing activities | 16,905 | 9,745 |
| Net change in cash and equivalents | 10,022 | 2,779 |
| Cash and equivalents, beginning of period | 429 | 7,723 |
| Cash and equivalents, end of period | $10,451 | $10,502 |
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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