Logo

USEG

U.S. Energy Corp.

USEG

U.S. Energy Corp. • NASDAQ
$0.98 ▼ -2.01% (-0.02)
Market Cap $33.81 M
52w High $6.40
52w Low $0.94
Dividend Yield 0%
P/E -1.21
Volume 260.86K
Outstanding Shares 34.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.738M ▼ $2.113M ▼ $-3.341M ▲ -192.232% ▲ $-0.1 ▲ $-2.409M ▲
Q2-2025 $2.028M ▼ $5.43M ▲ $-6.058M ▼ -298.718% ▼ $-0.19 ▼ $-4.85M ▼
Q1-2025 $2.193M ▼ $2.389M ▼ $-3.111M ▲ -141.86% ▲ $-0.095 ▲ $-1.903M ▲
Q4-2024 $4.225M ▼ $12.07M ▲ $-12.026M ▼ -284.639% ▼ $-0.43 ▼ $-9.909M ▼
Q3-2024 $4.957M $3.676M $-2.247M -45.33% $-0.08 $-100K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.725M ▼ $46.497M ▼ $21.458M ▼ $25.039M ▼
Q2-2025 $6.938M ▼ $50.993M ▼ $23.033M ▲ $27.96M ▼
Q1-2025 $10.567M ▲ $55.835M ▲ $22.277M ▼ $33.558M ▲
Q4-2024 $7.854M ▲ $49.667M ▼ $25.846M ▼ $23.821M ▼
Q3-2024 $1.262M $64.076M $28.342M $35.734M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.341M ▲ $-155K ▲ $-5.159M ▼ $0 ▲ $-5.313M ▼ $-5.305M ▼
Q2-2025 $-6.058M ▼ $-1.582M ▲ $-2.087M ▲ $-104K ▼ $-3.774M ▼ $-3.813M ▲
Q1-2025 $-3.111M ▲ $-4.544M ▼ $-2.422M ▼ $9.745M ▲ $2.779M ▼ $-6.966M ▼
Q4-2024 $-12.026M ▼ $1.696M ▼ $5.077M ▲ $-205K ▲ $6.568M ▲ $-692K ▼
Q3-2024 $-2.247M $2.565M $3.387M $-7.02M $-1.068M $333K

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Natural Gas Midstream
Natural Gas Midstream
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement U.S. Energy’s income statement shows a very small, early‑stage business that is still losing money. Revenue is modest and has actually drifted down in recent years, reflecting the exit from traditional oil and gas before the new industrial gas business is up and running. Profit measures are negative across the board, from operating income through net income, which means the core business is not yet covering its costs. Losses are not extreme in absolute size, but they are persistent, and earnings per share have been under pressure. Overall, the income statement looks like a company in transition that has not yet replaced old revenue streams with new, profitable ones.

Balance Sheet

Balance Sheet The balance sheet is small but relatively simple. Total assets have stepped down over time, consistent with selling legacy oil and gas properties and refocusing on a new business model. Equity remains positive, which indicates that, despite recent losses, the company still has a cushion. Debt has been minimal and is currently described as effectively zero, which reduces financial risk but also means the company is relying mainly on its own capital and any future funding arrangements. Cash has improved from essentially nothing to a modest balance, giving the company some flexibility, but not a large safety net. Overall, the balance sheet is clean and light, but also thin, and depends heavily on successful execution of the pivot.

Cash Flow

Cash Flow Cash flow has been close to break‑even in recent years. Operating cash flow has hovered around flat to slightly positive, suggesting the legacy operations and early transition activities are just about funding day‑to‑day needs but not generating strong surplus cash. Capital spending has been modest but enough to occasionally push free cash flow slightly negative, as the company invests in its new direction. This pattern is typical of a company in an early build‑out phase: not burning cash aggressively, but also not yet generating the steady cash inflows that would support larger projects without outside funding. Future cash flow will likely depend heavily on bringing the Kevin Dome projects into commercial operation and securing long‑term contracts.

Competitive Edge

Competitive Edge Competitively, U.S. Energy is trying to move from a crowded, commodity‑driven oil and gas market into more specialized niches: helium, industrial gases, and carbon sequestration. Its main potential edge is control of the Kevin Dome asset in Montana, which is reported to hold sizable helium and carbon dioxide resources. Helium is scarce and strategically important for high‑tech and medical uses, while carbon storage capacity is becoming more valuable as industries seek to cut emissions. This focused resource position, combined with permitted injection infrastructure, could offer a differentiated platform if developed successfully. However, the company is small, still pre‑scale in its new business, and competing against much larger industrial gas and energy players, so its actual market power will depend on execution, partnerships, and its ability to lock in long‑term offtake and storage agreements.

Innovation and R&D

Innovation and R&D Innovation here is more about business model and applied technology than traditional lab‑style R&D. U.S. Energy is adopting established industrial gas and carbon capture technologies—such as advanced drilling, gas separation, and underground injection—and tailoring them to the specific geology of Kevin Dome. Integrating helium production with carbon capture and storage in a single project is a distinctive approach that could appeal to customers looking for both high‑purity gases and emissions solutions. The company’s roadmap includes building its first processing facility and then scaling up, with key milestones around construction, commissioning, and contract wins. The main risks are around execution: engineering, permitting, securing customers, and managing costs during build‑out. The innovation is promising but still mostly on paper and in early development rather than in fully proven, revenue‑generating operations.

Summary

Overall, U.S. Energy looks like a small, transitional energy company reshaping itself into an industrial gas and carbon management business. Financially, it currently shows modest revenue, recurring losses, and only thin cash flow, but with a relatively clean, low‑debt balance sheet. Strategically, the company’s story is centered on a single major asset, Kevin Dome, and the goal of monetizing helium and offering carbon sequestration services. If the company can turn that resource base into operating plants with stable contracts, its financial profile could change significantly. Until then, the picture is one of high execution risk, limited scale, and early‑stage development, but with a clear, differentiated strategic direction in a niche that is seeing growing global interest.