Ryan Smith, the CEO of US Energy Corp (NASDAQ:USEG), recently purchased 500 shares of the company’s common stock. The acquisition took place on January 17, 2025, at a price of $2.31 per share, totaling $1,155. The stock has since surged to $3.79, marking a remarkable 76% gain in just one week. According to InvestingPro analysis, the stock’s RSI indicates overbought conditions. Following this transaction, Smith’s direct ownership in the company increased to 875,050 shares.
Additionally, Smith disposed of 42,301 shares to cover tax withholding obligations from exempt stock grants. This transaction, priced at $2.31 per share, amounted to a total of $97,715. After this transaction, Smith’s holdings stood at 832,749 shares.
In other recent news, U.S. Energy Corp . has reported significant developments, including a substantial helium discovery in Montana. Independent (LON:IOG) lab results confirm helium concentrations of up to approximately 1.5%, enhancing the company’s economic potential. The helium, found in non-hydrocarbon-based formations, positions U.S. Energy as a potential leader in carbon sequestration initiatives.
Further developments include the company’s compliance with Nasdaq’s minimum bid price requirement, effectively closing a compliance issue. U.S. Energy Corp. has also cleared its debt and initiated a new development program in Northwest Montana, targeting helium and other industrial gases. The company plans to begin development of additional wells in the first quarter of 2025, anticipating booking proved reserves in the year-end 2024 reserve report.
In addition to these developments, U.S. Energy Corp. has renewed its contract with CEO Ryan Smith until 2027, and has entered into a definitive agreement to sell its South Texas assets for an estimated $6.5 million in cash. According to the company’s mid-year 2024 SEC proved reserves report, U.S. Energy Corp. has 3.5 million barrels of oil equivalent, with a present value discounted at 10% of $50.9 million. The company also maintains a strong liquidity position, with approximately $22 million available.
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