U.S. Energy Corp. (USEG) Financial Statements (2024 and earlier)

Company Profile

Business Address 1616 S. VOSS, SUITE 725
HOUSTON, TX 77057
State of Incorp. WY
Fiscal Year End December 31
Industry (SIC) 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,2662,5284,5183,1992,6171,719
Cash and cash equivalents1,1752,4214,4113,0932,4671,447
Short-term investments91107107106150272
Receivables2,7142,0483,1934,5206,1314,270
Derivative instruments and hedges, assets8     
Asset, held-for-sale, not part of disposal group 175175175175250250
Other current assets9731,160558   
Other undisclosed current assets   378897771
Total current assets:5,1365,9118,4448,2729,8957,010
Noncurrent Assets
Operating lease, right-of-use asset77381386893399795
Property, plant and equipment913861651634589488
Oil and gas property, full cost method105,656107,041108,003108,78096,55595,238
Derivative instruments and hedges      
Deferred income tax assets      228
Other noncurrent assets330343354375348503
Other undisclosed noncurrent assets     5921,456
Total noncurrent assets:107,672109,058109,876110,72299,08198,008
TOTAL ASSETS:112,808114,969118,320118,994108,976105,018
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:8,4647,6417,8328,1966,9214,913
Accounts payable2,5382,2122,566   
Accrued liabilities807792385   
Other undisclosed accounts payable and accrued liabilities5,1194,6374,8818,1966,9214,913
Deferred compensation liability      
Derivative instruments and hedges, liabilities 3691,6941,9916,3256,478
Asset retirement obligation6686576681,9651,8451,352
Other undisclosed current liabilities7875311,3001,0811,021812
Total current liabilities:9,9199,19811,49413,23316,11213,555
Noncurrent Liabilities
Long-term debt and lease obligation12,00012,00012,00013,3374,8803,500
Long-term debt, excluding current maturities12,00012,00012,00012,5004,0003,500
Liabilities, other than long-term debt16,54616,68316,47212,10311,68011,812
Asset retirement obligations15,22615,09114,77412,09110,3669,938
Deferred income tax liabilities610836898   
Other liabilities 666667
Operating lease, liability704750794837880 
Derivative instruments and hedges, liabilities    61,3081,867
Total noncurrent liabilities:28,54628,68328,47225,44016,56015,312
Total liabilities:38,46537,88139,96638,67332,67228,867
Equity
Equity, attributable to parent74,34377,08878,35480,32176,30476,151
Common stock251252250250249249
Additional paid in capital217,632217,265216,690216,267215,783215,174
Accumulated deficit(143,540)(140,429)(138,586)(136,196)(139,728)(139,272)
Total equity:74,34377,08878,35480,32176,30476,151
TOTAL LIABILITIES AND EQUITY:112,808114,969118,320118,994108,976105,018

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues7,9788,27210,37411,82613,4808,872
Gross profit:7,9788,27210,37411,82613,4808,872
Operating expenses(10,679)(10,232)(10,699)(11,403)(10,772)(8,139)
Operating income (loss):(2,701)(1,960)(325)4232,708733
Nonoperating income (expense)(23)651(987)3,716(2,318)(6,806)
Other nonoperating income (expense)(6) (2)(2)(5) 
Interest and debt expense (267)     
Income (loss) from continuing operations before equity method investments, income taxes:(2,991)(1,309)(1,312)4,139390(6,073)
Other undisclosed income from continuing operations before income taxes 267     
Income (loss) from continuing operations before income taxes:(2,724)(1,309)(1,312)4,139390(6,073)
Income tax expense (benefit)20962(499)(29)(268)2,689
Income (loss) from continuing operations:(2,515)(1,247)(1,811)4,110122(3,384)
Income (loss) before gain (loss) on sale of properties:4,110122(3,384)
Net income (loss) attributable to parent:(2,515)(1,247)(1,811)4,110122(3,384)
Undistributed earnings (loss) allocated to participating securities, basic    (101)  
Other undisclosed net income available to common stockholders, basic   1,156   
Net income (loss) available to common stockholders, diluted:(2,515)(1,247)(655)4,009122(3,384)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):(2,515)(1,247)(1,811)4,110122(3,384)
Comprehensive income (loss), net of tax, attributable to parent:(2,515)(1,247)(1,811)4,110122(3,384)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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