US energy corp CEO Ryan Smith acquires $2,195 in stock

Following these purchases, Smith now holds a direct ownership of 874,550 shares in the company. According to InvestingPro analysis, the stock appears slightly overvalued at current levels, with analysts setting price targets between $2 and $3. These transactions were reported in a Form 4 filing with the Securities and Exchange Commission.

Following these purchases, Smith now holds a direct ownership of 874,550 shares in the company. According to InvestingPro analysis, the stock appears slightly overvalued at current levels, with analysts setting price targets between $2 and $3. These transactions were reported in a Form 4 filing with the Securities and Exchange Commission.

In other recent news, U.S. Energy Corp (NASDAQ:USEG). has made a significant discovery of high-quality helium in Montana, as confirmed by independent laboratory results. The discovery, found in non-hydrocarbon-based formations, enhances the economic potential of the company's assets and positions it as a potential leader in carbon sequestration initiatives. The company plans to conduct extended flow tests in the fourth quarter of 2024 and begin development of additional wells in the first quarter of 2025.

Furthermore, U.S. Energy Corp. has regained compliance with Nasdaq's minimum bid price requirement and cleared its debt. They have also renewed their contract with CEO Ryan Smith until 2027 and sold their South Texas assets for an estimated $6.5 million in cash.

The company's mid-year 2024 SEC proved reserves report indicates 3.5 million barrels of oil equivalent, with a present value discounted at 10% of $50.9 million. U.S. Energy Corp. also maintains a strong liquidity position, with approximately $22 million available. These recent developments underscore U.S. Energy Corp.'s commitment to optimizing production and generating free cash flow.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.