In a recent transaction, Ryan Smith, CEO of US Energy Corp (NASDAQ:USEG), acquired a total of 1,000 shares of the company’s common stock in two days. The purchases, made on December 18 and 19, 2024, were made at prices ranging between $1.46 and $1.48 per share, adding up to a total investment of $1,470. Following these transactions, Smith now owns 890,614 shares directly in the company with market capitalization of $40.55 million. According to InvestingPro analysis, the stock appears undervalued despite falling 10.5% last week. These acquisitions highlight Smith’s continued investment in the company he leads. Analysts maintain a bullish outlook with price targets ranging between $2 and $3 per share. InvestingPro subscribers can access eight additional key insights into USEG’s financial health and market position.
In other recent news, US Energy Corporation has made several important advances in its operations. The energy company announced successful initial drilling of a well in Montana, uncovering a major helium discovery. This finding, confirmed by results from independent laboratories, enhances the economic potential of the company’s assets and positions US Energy as a potential leader in carbon sequestration initiatives. The company has also regained compliance with the Nasdaq’s minimum offering price requirement, effectively resolving the compliance issue.
Additionally, US Energy paid off its debt and began a new development program in northwest Montana, focused on helium and other industrial gases. The company’s mid-2024 SEC proven reserves report indicates 3.5 million barrels of oil equivalent, with a 10% discounted current value of $50.9 million. In addition, US Energy has renewed its contract with CEO Ryan Smith until 2027, with the possibility of successive renewals for two years.
Finally, US Energy has entered into a definitive agreement to sell its South Texas assets for an estimated $6.5 million in cash, marking its exit from South Texas operations. These recent events underscore US Energy Corporation (NASDAQ:) to optimize production, generate free cash flow and reduce its carbon footprint.
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