$USEG
US ENERGY CORP

2024 Q3 Form 10-Q Financial Statement

#000143774924025184 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $4.957M $6.046M
YoY Change -43.29% -24.22%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $9.109M $7.762M
YoY Change -46.26% -27.32%
Operating Profit -$4.152M -$1.716M
YoY Change -49.42% -36.47%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.885M -$262.0K
YoY Change -354.04% 1039.13%
Pretax Income -$2.267M -$1.978M
YoY Change -74.67% -27.39%
Income Tax -$20.00K -$4.000K
% Of Pretax Income
Net Earnings -$2.247M -$1.974M
YoY Change -74.43% -21.51%
Net Earnings / Revenue -45.33% -32.65%
Basic Earnings Per Share -$0.08 -$0.08
Diluted Earnings Per Share -$0.08 -$0.08
COMMON SHARES
Basic Shares Outstanding 28.05M 25.29M
Diluted Shares Outstanding 28.05M 25.45M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.155M $2.223M
Short-Term Investments
Other Short-Term Assets $708.0K $905.0K
YoY Change -13.34% -6.99%
Inventory
Prepaid Expenses $305.0K $467.0K
Receivables $1.416M $1.902M
Other Receivables
Total Short-Term Assets $3.386M $5.189M
YoY Change -49.24% 1.03%
LONG-TERM ASSETS
Property, Plant & Equipment $725.0K $786.0K
YoY Change -24.79% -13.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $441.0K $514.0K
YoY Change 39.12% 55.76%
Total Long-Term Assets $60.69M $68.49M
YoY Change -40.2% -36.39%
TOTAL ASSETS
Total Short-Term Assets $3.386M $5.189M
Total Long-Term Assets $60.69M $68.49M
Total Assets $64.08M $73.68M
YoY Change -40.76% -34.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.88M $10.36M
YoY Change -10.08% 4.43%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $10.88M $10.36M
Total Long-Term Liabilities
Total Liabilities $28.34M $35.95M
YoY Change -32.49% -6.54%
SHAREHOLDERS EQUITY
Retained Earnings -$185.9M -$183.6M
YoY Change 22.03% 27.94%
Common Stock $221.6M $221.4M
YoY Change 1.43% 1.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $35.73M $37.73M
YoY Change
Total Liabilities & Shareholders Equity $64.08M $73.68M
YoY Change -40.76% -34.69%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$2.247M -$1.974M
YoY Change -74.43% -21.51%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q2 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
77000 usd
CY2023Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
0 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
515000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
611000 usd
CY2024Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
16000 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
16000 usd
CY2024Q2 us-gaap Liabilities
Liabilities
35949000 usd
CY2023Q4 us-gaap Liabilities
Liabilities
33922000 usd
CY2024Q2 us-gaap Common Stock Value
CommonStockValue
281000 usd
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
253000 usd
CY2024Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
221092000 usd
CY2023Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
218403000 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-183645000 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-172134000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
37728000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
46522000 usd
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
73677000 usd
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
80444000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6046000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7978000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11437000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16251000 usd
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
3076000 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
3739000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
6262000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
8148000 usd
CY2024Q2 useg Gathering Transportation And Treating Expense
GatheringTransportationAndTreatingExpense
63000 usd
CY2023Q2 useg Gathering Transportation And Treating Expense
GatheringTransportationAndTreatingExpense
138000 usd
useg Gathering Transportation And Treating Expense
GatheringTransportationAndTreatingExpense
127000 usd
useg Gathering Transportation And Treating Expense
GatheringTransportationAndTreatingExpense
252000 usd
CY2024Q2 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
367000 usd
CY2023Q2 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
538000 usd
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
710000 usd
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
1058000 usd
CY2024Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2165000 usd
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2896000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
4360000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
5313000 usd
CY2024Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
CY2023Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
5419000 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
CY2024Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2091000 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3368000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4297000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6140000 usd
CY2024Q2 us-gaap Operating Expenses
OperatingExpenses
7762000 usd
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
10679000 usd
us-gaap Operating Expenses
OperatingExpenses
21175000 usd
us-gaap Operating Expenses
OperatingExpenses
20911000 usd
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1716000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-2701000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-9738000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-4660000 usd
CY2023Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
288000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-1493000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
1208000 usd
CY2024Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-131000 usd
CY2023Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-289000 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-251000 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-558000 usd
CY2024Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-19000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-22000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-15000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-22000 usd
CY2024Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-262000 usd
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-23000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1759000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
628000 usd
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1978000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2724000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-11497000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4032000 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-209000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-270000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1974000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-2515000 usd
us-gaap Net Income Loss
NetIncomeLoss
-11511000 usd
us-gaap Net Income Loss
NetIncomeLoss
-3762000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
25452814
CY2023Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
25186797
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
25420517
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
25182704
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.1
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.15
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
78354000 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
727000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 usd
CY2023Q1 useg Shares Withheld To Settle Tax Withholding Obligations For Restricted Stock Awards Value
SharesWithheldToSettleTaxWithholdingObligationsForRestrictedStockAwardsValue
-150000 usd
CY2023Q1 us-gaap Dividends Cash
DividendsCash
596000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1247000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
77088000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
607000 usd
CY2023Q2 us-gaap Dividends Cash
DividendsCash
596000 usd
CY2023Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
241000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-2515000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
74343000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
46522000 usd
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
200000 usd
CY2024Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 usd
CY2024Q1 useg Shares Withheld To Settle Tax Withholding Obligations For Restricted Stock Awards Value
SharesWithheldToSettleTaxWithholdingObligationsForRestrictedStockAwardsValue
-105000 usd
CY2024Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
337000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-9537000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
36743000 usd
CY2024Q2 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
2678000 usd
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
476000 usd
CY2024Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 usd
CY2024Q2 useg Shares Withheld To Settle Tax Withholding Obligations For Restricted Stock Awards Value
SharesWithheldToSettleTaxWithholdingObligationsForRestrictedStockAwardsValue
-27000 usd
CY2024Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
168000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1974000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
37728000 usd
us-gaap Net Income Loss
NetIncomeLoss
-11511000 usd
us-gaap Net Income Loss
NetIncomeLoss
-3762000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4360000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5313000 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
5419000 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
0 usd
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-288000 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-1493000 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1208000 usd
useg Gain Loss On Commodity Derivative
GainLossOnCommodityDerivative
-525000 usd
useg Gain Loss On Commodity Derivative
GainLossOnCommodityDerivative
494000 usd
us-gaap Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
-5000 usd
us-gaap Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
-16000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
11000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
24000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
24000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
675000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1334000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
81000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
95000 usd
us-gaap Increase Decrease In Unproved Oil And Gas Property
IncreaseDecreaseInUnprovedOilAndGasProperty
-434000 usd
us-gaap Increase Decrease In Unproved Oil And Gas Property
IncreaseDecreaseInUnprovedOilAndGasProperty
-479000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
372000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-240000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-372000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-164000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-265000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-500000 usd
useg Increase Decrease In Revenue And Royalties Payable
IncreaseDecreaseInRevenueAndRoyaltiesPayable
-34000 usd
useg Increase Decrease In Revenue And Royalties Payable
IncreaseDecreaseInRevenueAndRoyaltiesPayable
478000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-89000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-102000 usd
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-58000 usd
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-52000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
326000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1409000 usd
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
2213000 usd
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
-0 usd
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
667000 usd
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
2402000 usd
useg Payments To Acquire Property Plant And Equipment Excluding Oil And Gas
PaymentsToAcquirePropertyPlantAndEquipmentExcludingOilAndGas
202000 usd
useg Payments To Acquire Property Plant And Equipment Excluding Oil And Gas
PaymentsToAcquirePropertyPlantAndEquipmentExcludingOilAndGas
373000 usd
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
247000 usd
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
0 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
139000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2696000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2775000 usd
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
2000000 usd
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
62000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
286000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
132000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
151000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
-0 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
1192000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
564000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
241000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1242000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1870000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1128000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3236000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3351000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4411000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2223000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1175000 usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
245000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
245000000
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
28052959
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
28052959
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
25333870
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
25333870
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.0225
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.0225
CY2024Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 pure
CY2024Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
CY2022Q1 us-gaap Debt Instrument Variable Interest Rate Type Extensible Enumeration
DebtInstrumentVariableInterestRateTypeExtensibleEnumeration
http://fasb.org/us-gaap/2024#FederalFundsEffectiveSwapRateMember
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2024Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
23176
us-gaap Payments Of Dividends
PaymentsOfDividends
0 usd
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
000-06814
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
83-0205516
dei Entity Address Address Line1
EntityAddressAddressLine1
1616 S. Voss Road, Suite 725
dei Entity Address City Or Town
EntityAddressCityOrTown
Houston
dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
77057
dei City Area Code
CityAreaCode
346
dei Local Phone Number
LocalPhoneNumber
509-8734
dei Security12b Title
Security12bTitle
Common stock, par value $0.01
dei Trading Symbol
TradingSymbol
USEG
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2024Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
28052959
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2223000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3351000 usd
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1902000 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2336000 usd
CY2024Q2 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
159000 usd
CY2023Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
164000 usd
CY2024Q2 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
0 usd
CY2023Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
1844000 usd
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
905000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
527000 usd
CY2024Q2 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0 usd
CY2023Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
150000 usd
CY2024Q2 us-gaap Assets Current
AssetsCurrent
5189000 usd
CY2023Q4 us-gaap Assets Current
AssetsCurrent
8372000 usd
CY2024Q2 useg Oil And Gas Property Proved Properties Full Cost Method Gross
OilAndGasPropertyProvedPropertiesFullCostMethodGross
171480000 usd
CY2023Q4 useg Oil And Gas Property Proved Properties Full Cost Method Gross
OilAndGasPropertyProvedPropertiesFullCostMethodGross
176679000 usd
CY2024Q2 us-gaap Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
109950000 usd
CY2023Q4 us-gaap Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
106504000 usd
CY2024Q2 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
61530000 usd
CY2023Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
70175000 usd
CY2024Q2 useg Helium Property Unproved Properties Full Cost Method Gross
HeliumPropertyUnprovedPropertiesFullCostMethodGross
5046000 usd
CY2023Q4 useg Helium Property Unproved Properties Full Cost Method Gross
HeliumPropertyUnprovedPropertiesFullCostMethodGross
0 usd
CY2024Q2 useg Oil And Gas And Helium Full Cost Method Property And Equipment After Accumulated Depletion
OilAndGasAndHeliumFullCostMethodPropertyAndEquipmentAfterAccumulatedDepletion
66576000 usd
CY2023Q4 useg Oil And Gas And Helium Full Cost Method Property And Equipment After Accumulated Depletion
OilAndGasAndHeliumFullCostMethodPropertyAndEquipmentAfterAccumulatedDepletion
70175000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
786000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
899000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
612000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
693000 usd
CY2024Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
514000 usd
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
305000 usd
CY2024Q2 us-gaap Assets
Assets
73677000 usd
CY2023Q4 us-gaap Assets
Assets
80444000 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3814000 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
4064000 usd
CY2024Q2 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
436000 usd
CY2023Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
702000 usd
CY2024Q2 useg Revenue And Royalties Payable Current
RevenueAndRoyaltiesPayableCurrent
4822000 usd
CY2023Q4 useg Revenue And Royalties Payable Current
RevenueAndRoyaltiesPayableCurrent
4857000 usd
CY2024Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
97000 usd
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
0 usd
CY2024Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
1000000 usd
CY2023Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
1273000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
189000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
182000 usd
CY2024Q2 us-gaap Liabilities Current
LiabilitiesCurrent
10358000 usd
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
11078000 usd
CY2024Q2 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
7000000 usd
CY2023Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
5000000 usd
CY2024Q2 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
17983000 usd
CY2023Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
17217000 usd
CY2024Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-112000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Use of Estimates</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the fair value of helium, oil and gas properties acquired, oil and natural gas reserves that are used in the calculation of depreciation, depletion, amortization, and impairment of the carrying value of evaluated helium, oil and natural gas properties; production and commodity price estimates used to record accrued sales receivables; future prices of commodities used in the valuation of commodity derivative contracts; and the cost and timing of future asset retirement obligations. The Company evaluates its estimates on an on-going basis and bases its estimates on historical experience and on various other assumptions the Company believes to be reasonable. Due to inherent uncertainties, including the future commodity prices, these estimates could change in the near term and such changes could be material.</p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"><b>Reclassifications</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt -9pt 0pt -1pt;">Certain prior year amounts are reclassified to conform to the current year presentation.</p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt -9pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Historically, the Company included gathering, transportation, and treating costs within lease operating expense on the Condensed Consolidated Statements of Operations. Effective <em style="font: inherit;"> July </em><em style="font: inherit;">1,</em> <em style="font: inherit;">2023,</em> the Company began classifying gathering, treating, and transportation costs in a separate line item, titled Gathering, transportation, and treating, on the Condensed Consolidated Statements of Operations and recast prior period results for this reclassification. This reclassification had <em style="font: inherit;">no</em> impact on the Company's net income, earnings per share, cash flows, or financial position. The Company revised historical periods to reflect this change in presentation.</p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt -9pt 0pt -1pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt -9pt 0pt -1pt;">The Company has historically included revenue and royalties payable within accounts payables and accrued liabilities on the Condensed Consolidated Balance Sheets. Effective <em style="font: inherit;"> December </em><em style="font: inherit;">31,</em> <em style="font: inherit;">2023,</em> the Company began classifying revenue and royalties payable as a separate line item on the Condensed Consolidated Balance Sheet.  The Condensed Consolidated Statements of Cash Flows has been updated to separate changes in operating assets and liabilities from revenue and royalties payable and accounts payable and accrued liabilities. This reclassification had <em style="font: inherit;">no</em> impact on the Company's net income (loss), income (loss) per share, cash flows, or financial position. The Company revised historical periods to reflect this change in presentation.</p>
CY2024Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
400000 usd
CY2024Q2 us-gaap Gain Loss On Sale Of Oil And Gas Property
GainLossOnSaleOfOilAndGasProperty
0 usd
CY2024Q2 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
100000 usd
CY2023 useg Asset Retirement Obligations Relief Through Disposals
AssetRetirementObligationsReliefThroughDisposals
500000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6046000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7978000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11437000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16251000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
612000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
693000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
189000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
182000 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
515000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
611000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
704000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
793000 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
49000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
49000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
97000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
114000 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
138000 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
184000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
350000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
453000 usd
CY2024Q2 us-gaap Sublease Income
SubleaseIncome
-0 usd
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
-0 usd
us-gaap Sublease Income
SubleaseIncome
-0 usd
us-gaap Sublease Income
SubleaseIncome
-0 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
187000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
233000 usd
us-gaap Lease Cost
LeaseCost
447000 usd
us-gaap Lease Cost
LeaseCost
567000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y4M24D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M24D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0425 pure
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0425 pure
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
107000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
218000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
224000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
210000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
759000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
55000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
704000 usd
CY2023 useg Oil And Gas Property Ceiling Test Discount Rate
OilAndGasPropertyCeilingTestDiscountRate
0.10 pure
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
5400000 usd
us-gaap Derivative Nonmonetary Notional Amount Volume
DerivativeNonmonetaryNotionalAmountVolume
249845
CY2024Q2 us-gaap Derivative Floor Price
DerivativeFloorPrice
75.53
CY2024Q2 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
0 usd
CY2023Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
1844000 usd
CY2024Q2 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
0 usd
CY2023Q4 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
0 usd
CY2024Q2 us-gaap Derivative Assets
DerivativeAssets
0 usd
CY2023Q4 us-gaap Derivative Assets
DerivativeAssets
1844000 usd
CY2024Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
97000 usd
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
0 usd
CY2024Q2 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
77000 usd
CY2023Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
0 usd
CY2024Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
174000 usd
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
0 usd
CY2024Q2 useg Derivative Settlement Gain Loss
DerivativeSettlementGainLoss
121000 usd
CY2023Q2 useg Derivative Settlement Gain Loss
DerivativeSettlementGainLoss
-89000 usd
useg Derivative Settlement Gain Loss
DerivativeSettlementGainLoss
525000 usd
useg Derivative Settlement Gain Loss
DerivativeSettlementGainLoss
-494000 usd
CY2024Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-112000 usd
CY2023Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
288000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-1493000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
1208000 usd
CY2022Q4 useg Price Per Barrel Of Oil
PricePerBarrelOfOil
65 usd
CY2022Q4 useg Natural Gas Price Per Cubic Foot
NaturalGasPricePerCubicFoot
3.25 usd
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
28052959
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
245000000
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
23176
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
38.92
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
23176
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
38.92
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
7.2
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
226.2
CY2024Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
38.92
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P2Y6M
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1000000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M12D
CY2023Q2 us-gaap Dividends And Interest Paid
DividendsAndInterestPaid
600000 usd
us-gaap Dividends And Interest Paid
DividendsAndInterestPaid
1200000 usd
CY2023Q2 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
5000000 usd
CY2023Q2 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
5000000 usd
CY2024Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
145300
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
163300
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
463500
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
163300
CY2024Q2 useg Share Repurchase Program Weighted Average Price Per Share
ShareRepurchaseProgramWeightedAveragePricePerShare
1.158
CY2023Q2 useg Share Repurchase Program Weighted Average Price Per Share
ShareRepurchaseProgramWeightedAveragePricePerShare
1.475
useg Share Repurchase Program Weighted Average Price Per Share
ShareRepurchaseProgramWeightedAveragePricePerShare
1.091
useg Share Repurchase Program Weighted Average Price Per Share
ShareRepurchaseProgramWeightedAveragePricePerShare
1.475
CY2024Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
168250 usd
CY2023Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
240793 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
505733 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
240793 usd
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
18490000 usd
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
15442000 usd
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
0 usd
CY2023 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
11000 usd
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
100000 usd
CY2023 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
-2494000 usd
useg Asset Retirement Obligation Plugged
AssetRetirementObligationPlugged
-58000 usd
CY2023 useg Asset Retirement Obligation Plugged
AssetRetirementObligationPlugged
-215000 usd
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
144000 usd
CY2023 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
458000 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
795000 usd
CY2023 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1216000 usd
CY2024Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
18983000 usd
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
18490000 usd
CY2024Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
1000000 usd
CY2023Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
1273000 usd
CY2024Q2 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
17983000 usd
CY2023Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
17217000 usd
CY2024Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
18983000 usd
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
18490000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.07 pure
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1974000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2515000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11511000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3762000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25453000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25187000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25421000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25183000
CY2024Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25453000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25187000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25421000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25183000
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.1
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.15
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.1
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.45
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.15
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1391000
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1278000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1391000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1278000
CY2024Q2 us-gaap Investment Owned Balance Shares
InvestmentOwnedBalanceShares
2421180
CY2023Q4 us-gaap Investment Owned Balance Shares
InvestmentOwnedBalanceShares
2421180
CY2024Q2 useg Investment Owned Market Price
InvestmentOwnedMarketPrice
0.06579
CY2023Q4 useg Investment Owned Market Price
InvestmentOwnedMarketPrice
0.06789
CY2024Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
159281 usd
CY2023Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
164375 usd
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
467000 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
88000 usd
CY2024Q2 useg Joint Interest Billings Receivable
JointInterestBillingsReceivable
303000 usd
CY2023Q4 useg Joint Interest Billings Receivable
JointInterestBillingsReceivable
265000 usd
CY2024Q2 us-gaap Income Tax Receivable
IncomeTaxReceivable
49000 usd
CY2023Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
135000 usd
CY2024Q2 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
86000 usd
CY2023Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
39000 usd
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
905000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
527000 usd
CY2024Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
1833000 usd
CY2023Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
1944000 usd
CY2024Q2 useg Operating Expense And Oil And Gas Property Accruals
OperatingExpenseAndOilAndGasPropertyAccruals
1390000 usd
CY2023Q4 useg Operating Expense And Oil And Gas Property Accruals
OperatingExpenseAndOilAndGasPropertyAccruals
1335000 usd
CY2024Q2 us-gaap Interest Payable Current
InterestPayableCurrent
115000 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
247000 usd
CY2024Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
458000 usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
454000 usd
CY2024Q2 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
0 usd
CY2023Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
62000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
18000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
22000 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3814000 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
4064000 usd
us-gaap Interest Paid Net
InterestPaidNet
382000 usd
us-gaap Interest Paid Net
InterestPaidNet
558000 usd
useg Cash Received For Income Taxes
CashReceivedForIncomeTaxes
-70000 usd
useg Cash Received For Income Taxes
CashReceivedForIncomeTaxes
0 usd
useg Change In Capital Expenditure Accruals
ChangeInCapitalExpenditureAccruals
-88000 usd
useg Change In Capital Expenditure Accruals
ChangeInCapitalExpenditureAccruals
50000 usd
useg Change In Accrual For Acquisition Costs
ChangeInAccrualForAcquisitionCosts
-155000 usd
useg Change In Accrual For Acquisition Costs
ChangeInAccrualForAcquisitionCosts
0 usd
us-gaap Stock Issued1
StockIssued1
2678000 usd
us-gaap Stock Issued1
StockIssued1
-0 usd
useg Asset Retirement Obligation Assumed
AssetRetirementObligationAssumed
-302000 usd
useg Asset Retirement Obligation Assumed
AssetRetirementObligationAssumed
-32000 usd
useg Accrual For Repurchase Of Common Stock
AccrualForRepurchaseOfCommonStock
-59000 usd
useg Accrual For Repurchase Of Common Stock
AccrualForRepurchaseOfCommonStock
usd
us-gaap Notes Issued1
NotesIssued1
0 usd
us-gaap Notes Issued1
NotesIssued1
654000 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
5400000 usd

Files In Submission

Name View Source Status
useg-20240630_cal.xml Edgar Link unprocessable
useg-20240630_def.xml Edgar Link unprocessable
0001437749-24-025184-index-headers.html Edgar Link pending
0001437749-24-025184-index.html Edgar Link pending
0001437749-24-025184.txt Edgar Link pending
0001437749-24-025184-xbrl.zip Edgar Link pending
ex_672698.htm Edgar Link pending
ex_672699.htm Edgar Link pending
ex_672700.htm Edgar Link pending
ex_672701.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
logolg.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
useg-20240630.xsd Edgar Link pending
useg20240630_10q.htm Edgar Link pending
useg-20240630_lab.xml Edgar Link unprocessable
useg-20240630_pre.xml Edgar Link unprocessable
useg20240630_10q_htm.xml Edgar Link completed