Operational Updates
U.S. Energy Details Q3 Bakken, Eagle Ford Shale Plans
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U.S. Energy Corp. has reported its third quarter 2012 operational and selected financial results for the three and nine months ended September 30, 2012, and provided an operations update.
Selected highlights for the three and nine months ended September 30, 2012• Produced 106,060 BOE during the quarter, or 1,153 BOE/D, from 79 gross (14.88 net) producing wells at September 30, 2012.
•During the quarter ended September 30, 2012, the Company recognized $7.6 million in revenue as compared to $8.4 million during the same period of the prior year. This $769,000 decrease in revenue is primarily due to lower natural gas sales volumes in 2012 when compared to 2011, primarily due to production declines from wells in the Gulf Coast.
•At September 30, 2012, the Company had $3.7 million in cash and…
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