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US Energy Talks Bakken, Buda Well Completions; Upcoming Wells
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U.S. Energy Corp. reported its second quarter 2013 highlights and selected financial results for the three and six months ended June 30, 2013, and also provided an operational update.
Selected highlights: During the quarter ended June 30, 2013, the Company recorded net income after taxes of $573,000, or $0.02 per share basic and diluted, as compared to a net loss after taxes of $990,000, or $0.04 per share basic and diluted, during the same period of 2012. On June 20, 2013, the Company announced the successful completion of the Beeler #2H well at a gross initial production rate of 859 BOE/D. The Beeler #2H is the Company's first participated well in Dimmit County, Texas targeting the Buda Limestone formation. The Company has an approximate 30% working interest and an approximate 22.8%…- ✓ Full news archive — U.S., Canada & international coverage
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