Exploration & Production | Capital Markets | Capital Expenditure
US Energy's 2014 Budget Targets Buda Limestone, Bakken Shale Plays
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U.S. Energy Corp. reported its 2014 oil and gas capital expenditure budget.
Keith G. Larsen, CEO of U.S. Energy Corp., commented: "We are pleased to announce our 2014 CAPEX budget which reflects our continued focus on South Texas and the Williston Basin. In the Williston Basin, we anticipate maintaining our base production rates, while we remain continuously optimistic about the potential to add meaningful production gains and reserves related to our South Texas drilling program during 2014.
"With the encouraging results we have seen to date, we are pleased that Contango has committed to a rig full time through 2014 as it will allow us to further define the Buda potential in the area and the boundaries in which it may produce in economic quantities. We are still uncertain as to the…
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