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EnerCom The Oil and Gas Conference – US Energy Corp.

US Energy Corp. · Aug 16, 2017 · 34 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 1
    U.S. ENERGY CORP. ENERCOM PRESENTATION August 16, 2017
  2. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 2
    Market Data Independent E&P Company Focused on Exploring for and Producing Domestic Oil and Natural Gas Exchange: NASDAQ (41 years) Ticker Symbol: USEG Price per Share (08/16/2017) 0.73 Market Capitalization (08/16/2017)…
  3. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 3
    Recent History COMPANY OVERHANG SOLUTION Restructure Credit Facility Replaced Wells Fargo as Company lender Address Liquidity Deficiency Agreed on Credit Facility Amendments Reduce G&A Decreased from 6mm to 2mm per year. Eliminate…
  4. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 4
    5 Focused on Living within Cash Flow U.S. Energy has positive net income at todays commodity prices. Net Income (000s) (10,602) (4,216) (265) (740) 336 1Q2016 2Q2016 3Q2016 1Q2017 2Q2017 NASDAQ: USEG WWW.USNRG.COM 5
  5. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 5
    6 Returning to Profitability U.S. Energy has optimized current operations and returned to positive quarterly EBITDA. Adjusted EBITDA (000s) 404 260 243 (51) (545) 1Q2016 2Q2016 3Q2016 1Q2017 2Q2017 NASDAQ: USEG…
  6. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 6
    7 Improving Liquidity Profile U.S. Energy has remained focused on improving the liquidity profile of the Company. Current Ratio 5.60 0.91 0.30 0.33 0.35 0.41 1Q2016 2Q2016 3Q2016 1Q2017 2Q2017 Per Covenant…
  7. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 7
    8 Focused on Reducing Costs U.S. Energy has worked with the Companys partners to implement cost reduction strategies across its entire asset base. Lease Operating Expenses per BOE 17.22 16.38 15.51 14.03 9.18 1Q2016…
  8. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 8
    Company Overview Williston Basin Oil & Gas Assets Bakken/Three Forks North Dakota Corporate HQ Eagle Ford/Buda/Austin Chalk/Georgetown Texas South Texas Conventional Gulf Coast Louisiana Founded in 1966 (In business…
  9. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 9
    Corporate Overview - Operations Participate in 155 gross (21.7 net) producing wells in North Dakota / Texas / Louisiana (June 2017) 2nd Quarter 2017 Average Daily Production 649 BOE/D (60% oil) Interest ( currently non-op) in…
  10. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 10
    2017 CAPEX The Companys capital focus will be on: Acquiring drilling opportunities Acquisition of producing properties Funding our drilling obligation in the South Texas Development in the Georgetown Formation NASDAQ: USEG…
  11. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 11
    E&P Assets U.S. ENERGY CORP. NASDAQ: USEG WWW.USNRG.COM 12
  12. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 12
    Williston Basin North Dakota NASDAQ: USEG WWW.USNRG.COM 13
  13. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 13
    North Dakota - Williston Basin Assets 115 Gross (11.2 net) wells (6/30/2017) Approximately Net 2,518 acres ( 58 DSUs) Average 2 wells per DSU Continue to rationalize the acreage position thru trades, swaps or…
  14. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 14
    Williston Basin Drilling Locations High EUR DSUs with drilling opportunities: State Williston NASDAQ: USEG WWW.USNRG.COM 15
  15. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 15
    Williston Basin Operations & Drilling Programs Bakken / Three Forks Formations Producing Operations in Williams, McKenzie and Mountrail Counties, North Dakota Interest in 58 participated drilling units (HBP) (majority 1,280 acre…
  16. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 16
    South Texas - Eagle Ford Trend NASDAQ: USEG WWW.USNRG.COM 17
  17. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 17
    South Texas Assets Eagleford Trend of South Texas MULTIPLE HORIZONS EAGLEFORD AUSTIN CHALK GEORGETOWN Development Opportunities with Contango in Dimmit County Georgetown is being explored by CML in Zavalla County Eagle Ford at…
  18. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 18
    Eagle Ford Potential 12,321 gross (2,468 net) Contango Operated acres in Zavala and Dimmit County, TX with Contango and CML Leona River Acreage Block Neighboring operators CHK has extensively drilled and established production…
  19. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 19
    Eagle Ford / Chalk Update Recent Completions Resulting in 1,900 BOED Rates. Concentrating on Upper Eagle Ford, Lower Eagle Ford and Competitors Acreage Chalk Longer Laterals & Improved Completions NASDAQ: USEG…
  20. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 20
    Leona River Prospect Regional GOR NASDAQ: USEG WWW.USNRG.COM 21
  21. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 21
    Winterbotham ZAV A 1H Geological Assessment Seismic Section and Seismic Structure Map B B B A TP EAGLEFORD TPBUDA, B ZVS A BH L NASDAQ: USEG WWW.USNRG.COM 22
  22. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 22
    Winterbotham ZAV A 1H Geological Assessment Offset Petrophysical Log Target Zone (red) Drilled Horizontal zone (green) NASDAQ: USEG WWW.USNRG.COM 223
  23. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 23
    Winterbotham ZAV A 1H Geological Assessment TerraVu Geosteering Cross Section and Correlation Plot Target Line: 6406 KBTVD 0 VS, 88.8 degree inclination Last Survey: MD: 13,166' TVD: 6,547.15' INC: 88.6 AZM: 328.7 TEMP:…
  24. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 24
    Winterbotham ZAV A 1H Geological Assessment Map Development Plan Planned Lateral On Drill Schedule Drilled CHK New Permit CHKWOC CHK EGFDProducer BHL Industry New Permit IndustryWOC Industry EGFD Producer Industry…
  25. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 25
    Eagle Ford Potential LEONA RIVER PROSPECT Offset Lease Program Results Average Results 47 Total Wells 493 MBO/Well 144 MMcf/Well NASDAQ: USEG WWW.USNRG.COM 26
  26. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 26
    Eagle Ford Potential LEONA RIVER PROSPECT Offset Lease Program Results Average Results 28 Total Wells 295 MBO/Well 166 MMcf/Well NASDAQ: USEG WWW.USNRG.COM 27
  27. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 27
    Eagle Ford Potential LEONA RIVER PROSPECT 3,000 acres in Zavala County, TX Neighboring operator EXCO has extensively drilled and established production rates of 839 BO/D Revised well costs 5.0 million Monitoring regional…
  28. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 28
    Overview of Areas and Economics Expectations 1. Bakken - North Dakota: requires multi well plan and negotiated prices, and redeploying capital from non-op position 2. Eagle Ford - South Texas: requires consolidation of…
  29. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 29
    INDUSTRY DRIVERS U.S. ENERGY CORP. NASDAQ: USEG WWW.USNRG.COM 30
  30. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 30
    Industry Outlook NASDAQ: USEG WWW.USNRG.COM 31
  31. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 31
    NASDAQ: USEG WWW.USNRG.COM 32
  32. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 32
    Crude Oil Outlook NASDAQ: USEG WWW.USNRG.COM 33
  33. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 33
    Current Status Completed 2015 - 2017 Strategic Goals and Plan: Reduced operational costs by 2/3rds Executed sale of the Mt. Emmons Mine Company Headquarters established in Denver, Colorado Manageable level of debt and streamlined…
  34. EnerCom The Oil and Gas Conference – US Energy Corp. – slide 34
    Shareholder Contact: Investor Relations: NASDAQCM: USEG P. 1-800-776-9271 Headquarters: IRusnrg.com U.S. Energy Corp. 4643 S. Ulster St. Web site: www.usrng.com Suite 970 Denver, CO 80237 P. 1-303-993-3200 NASDAQ: USEG…

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