us energy corp CEO Ryan Smith purchases $2,090 in stock

Ryan Smith, the CEO of US Energy Corp (NASDAQ:USEG), has recently acquired additional shares of the company. According to a recent SEC filing, Smith purchased a total of 1,000 shares of common stock over two transactions. The shares were bought at prices ranging from $1.93 to $2.25 per share, amounting to a total investment of $2,090. The timing is notable as the stock has shown remarkable momentum, gaining nearly 20% in the past week and trading close to its 52-week high of $2.35.

The transactions took place on January 10 and January 13, 2025, and increased Smith's total direct ownership to 873,550 shares. This move reflects Smith's continued confidence in the company's prospects, as he bolsters his position in the crude petroleum and natural gas sector, where US Energy Corp operates. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with technical indicators suggesting overbought conditions. Subscribers can access 12 additional ProTips and comprehensive valuation metrics for USEG on the platform.

In other recent news, U.S. Energy Corp (NASDAQ:USEG). revealed a significant helium discovery in Montana, marking a key development for the company. The initial well drilling resulted in helium concentrations of about 1.5%, enhancing the economic potential of the company's assets. U.S. Energy Corp. is also planning to conduct extended flow tests in the fourth quarter of 2024 to further validate the economic viability of the resource.

In addition to the helium discovery, U.S. Energy Corp. has regained compliance with Nasdaq's minimum bid price requirement and cleared its debt. Furthermore, the company has renewed its contract with CEO Ryan Smith until 2027 and sold its 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 boasts a strong liquidity position, with approximately $22 million available. These recent developments highlight the company's commitment to optimizing production, generating free cash flow, and reducing its carbon footprint.

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