2022 Q3 Form 10-Q Financial Statement

#000149315222022087 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $11.83M $13.48M $8.872M
YoY Change 562.89% 714.01% 633.22%
Cost Of Revenue $8.695M $8.130M $5.193M
YoY Change 899.43% 978.25% 574.42%
Gross Profit $3.131M $5.350M $3.679M
YoY Change 242.56% 493.13% 717.56%
Gross Profit Margin 26.48% 39.69% 41.47%
Selling, General & Admin $2.708M $2.642M $2.946M
YoY Change 294.75% 225.37% 298.11%
% of Gross Profit 86.49% 49.38% 80.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.528M $2.571M $1.886M
YoY Change 1685.42% 1471.67%
% of Gross Profit 80.74% 48.06% 51.26%
Operating Expenses $11.40M $10.77M $2.946M
YoY Change 1562.24% 587.87% 303.56%
Operating Profit $423.0K $2.708M $733.0K
YoY Change 85.53% 2908.89% -361.79%
Interest Expense $3.793M -$2.313M -$6.806M
YoY Change -12743.33% 671.0% -6287.27%
% of Operating Profit 896.69% -85.41% -928.51%
Other Income/Expense, Net $3.716M -$2.318M $0.00
YoY Change -123966.67% 680.47% -100.0%
Pretax Income $4.139M $390.0K -$6.073M
YoY Change 5009.88% -288.41% 3695.63%
Income Tax $29.00K $268.0K -$2.689M
% Of Pretax Income 0.7% 68.72%
Net Earnings $4.110M $122.0K -$3.384M
YoY Change 4974.07% -158.94% 1988.89%
Net Earnings / Revenue 34.75% 0.91% -38.14%
Basic Earnings Per Share $0.16 $0.00 -$0.14
Diluted Earnings Per Share $0.16 $0.00 -$142.7K
COMMON SHARES
Basic Shares Outstanding 24.92M shares 24.92M shares 23.72M shares
Diluted Shares Outstanding 24.68M shares 25.27M shares 23.72M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.199M $2.617M $1.719M
YoY Change -55.59% -61.72% -77.08%
Cash & Equivalents $3.093M $2.467M $1.447M
Short-Term Investments $106.0K $150.0K $272.0K
Other Short-Term Assets $553.0K $1.147M $1.021M
YoY Change 3.95% -19.62% -31.93%
Inventory
Prepaid Expenses
Receivables $4.520M $6.131M $4.270M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.272M $9.895M $7.010M
YoY Change -6.2% 10.13% -26.98%
LONG-TERM ASSETS
Property, Plant & Equipment $634.0K $589.0K $95.82M
YoY Change -92.74% -93.15% 1082.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $375.0K $348.0K $2.187M
YoY Change 837.5% 770.0%
Total Long-Term Assets $110.7M $99.08M $98.01M
YoY Change 1161.36% 1046.51% 1109.98%
TOTAL ASSETS
Total Short-Term Assets $8.272M $9.895M $7.010M
Total Long-Term Assets $110.7M $99.08M $98.01M
Total Assets $119.0M $109.0M $105.0M
YoY Change 576.22% 518.23% 493.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.196M $6.921M $4.913M
YoY Change 1016.62% 754.44% 445.89%
Accrued Expenses $865.0K $644.0K $277.0K
YoY Change 128.23% 119.05% 38.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.23M $16.11M $13.56M
YoY Change 829.94% 926.9% 868.21%
LONG-TERM LIABILITIES
Long-Term Debt $12.50M $4.000M $3.500M
YoY Change
Other Long-Term Liabilities $6.000K $6.000K $11.81M
YoY Change -99.6% -99.62% 594.82%
Total Long-Term Liabilities $6.000K $6.000K $15.31M
YoY Change -99.6% -99.62% 800.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.23M $16.11M $13.56M
Total Long-Term Liabilities $6.000K $6.000K $15.31M
Total Liabilities $38.67M $32.67M $28.87M
YoY Change 1224.87% 938.86% 831.19%
SHAREHOLDERS EQUITY
Retained Earnings -$136.2M -$139.7M
YoY Change
Common Stock $216.5M $216.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $80.32M $76.30M $76.15M
YoY Change
Total Liabilities & Shareholders Equity $119.0M $109.0M $105.0M
YoY Change 576.22% 518.23% 493.32%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $4.110M $122.0K -$3.384M
YoY Change 4974.07% -158.94% 1988.89%
Depreciation, Depletion And Amortization $2.528M $2.571M $1.886M
YoY Change 1685.42% 1471.67%
Cash From Operating Activities $4.835M $3.175M $487.0K
YoY Change 745.28% -6325.49% -190.19%
INVESTING ACTIVITIES
Capital Expenditures -$12.55M -$4.012M -$1.797M
YoY Change 2121.06% 633.46% 372.89%
Acquisitions $783.0K
YoY Change
Other Investing Activities $611.0K $2.095M -$1.456M
YoY Change 38.86% -3012.0%
Cash From Investing Activities -$11.94M -$1.917M -$3.253M
YoY Change 9450.4% 250.46% 885.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.729M -238.0K -209.0K
YoY Change -10544.59% 440.91% -103.99%
NET CHANGE
Cash From Operating Activities 4.835M 3.175M 487.0K
Cash From Investing Activities -11.94M -1.917M -3.253M
Cash From Financing Activities 7.729M -238.0K -209.0K
Net Change In Cash 626.0K 1.020M -2.975M
YoY Change 67.83% -258.88% -168.08%
FREE CASH FLOW
Cash From Operating Activities $4.835M $3.175M $487.0K
Capital Expenditures -$12.55M -$4.012M -$1.797M
Free Cash Flow $17.38M $7.187M $2.284M
YoY Change 1428.94% 1348.99% -1527.5%

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-207000 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
8567000 usd
CY2021Q1 USEG Stock Issuing Period Value In Underwritten Offering Net Of Offering Costs
StockIssuingPeriodValueInUnderwrittenOfferingNetOfOfferingCosts
5283000 usd
CY2021Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
438000 usd
CY2021Q1 USEG Stock Issued During Period Value For Settlement Of Related Party Legal Costs
StockIssuedDuringPeriodValueForSettlementOfRelatedPartyLegalCosts
406000 usd
CY2021Q1 USEG Stock Issued During Period Value Withheld To Settle Tax Withholding Obligations For Restricted Stock Awards
StockIssuedDuringPeriodValueWithheldToSettleTaxWithholdingObligationsForRestrictedStockAwards
-38000 usd
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
79000 usd
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-162000 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
14573000 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
116000 usd
us-gaap Net Income Loss
NetIncomeLoss
-3262000 usd
us-gaap Net Income Loss
NetIncomeLoss
-369000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
24923812 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
4676301 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
24323859 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
4304612 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25265180 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4676301 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24323859 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4304612 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-207000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
14482000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
13435000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
64694000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
1500000 usd
CY2022Q1 USEG Stock Issued During Period Value Withheld To Settle Tax Withholding Obligations For Restricted Stock Awards
StockIssuedDuringPeriodValueWithheldToSettleTaxWithholdingObligationsForRestrictedStockAwards
-307000 usd
CY2022Q1 USEG Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
213000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-3384000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
76151000 usd
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.02
CY2022Q2 us-gaap Dividends Cash
DividendsCash
578000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
609000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
122000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
76304000 usd
us-gaap Net Income Loss
NetIncomeLoss
-3262000 usd
us-gaap Net Income Loss
NetIncomeLoss
-369000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4457000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
264000 usd
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-2460000 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-4482000 usd
USEG Payments For Property And Equipment Additions
PaymentsForPropertyAndEquipmentAdditions
23000 usd
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
1231000 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-170000 usd
us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
-40000 usd
us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
73000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
20000 usd
USEG Fair Value Adjustment Of Warrants.
FairValueAdjustmentOfWarrants.
24000 usd
USEG Loss On Related Party Debt Conversion And Settlement Of Legal Costs
LossOnRelatedPartyDebtConversionAndSettlementOfLegalCosts
76000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2109000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
195000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
75000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
42000 usd
us-gaap Increase Decrease In Unproved Oil And Gas Property
IncreaseDecreaseInUnprovedOilAndGasProperty
5198000 usd
us-gaap Increase Decrease In Unproved Oil And Gas Property
IncreaseDecreaseInUnprovedOilAndGasProperty
208000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
192000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
39000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4315000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-509000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-675000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-125000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-49000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-39000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3662000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-591000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
4383000 usd
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
1131000 usd
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
904000 usd
USEG Payments For Cash Calls Expenses
PaymentsForCashCallsExpenses
592000 usd
USEG Payments For Property And Equipment Additions
PaymentsForPropertyAndEquipmentAdditions
295000 usd
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
30000 usd
us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
20000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5170000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-877000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5283000 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
4500000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
3847000 usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
174000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
236000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
48000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
195000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
307000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
39000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
578000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-447000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5196000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1955000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3728000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4422000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2854000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2467000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6582000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
997000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
120000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
157000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
114000 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
880000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zT8JlTwWVOsd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zOzZJhviqIud">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 oil and natural gas reserves that are used in the calculation of depreciation, depletion, amortization and impairment of the carrying value of evaluated oil and natural gas properties; realizability of unevaluated properties; production and commodity price estimates used to record accrued oil and natural gas sales receivables; futures prices of commodities used in the valuation of commodity derivative contracts; and the cost 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 prices of oil and natural gas, these estimates could change in the near term and such changes could be material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13480000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1656000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22352000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2867000 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
19000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1037000 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
133000 usd
CY2022Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P67M
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
69000 usd
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
27000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
100000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
51000 usd
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2000 usd
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
12000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
4000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
18000 usd
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
17000 usd
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
16000 usd
us-gaap Sublease Income
SubleaseIncome
33000 usd
us-gaap Sublease Income
SubleaseIncome
32000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
54000 usd
CY2021Q2 us-gaap Lease Cost
LeaseCost
23000 usd
us-gaap Lease Cost
LeaseCost
71000 usd
us-gaap Lease Cost
LeaseCost
37000 usd
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y1M6D
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.046 pure
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0926 pure
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
78000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
225000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
213000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
218000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
224000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
210000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1168000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
131000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1037000 usd
CY2021Q2 us-gaap Payments For Rent
PaymentsForRent
6000 usd
us-gaap Payments For Rent
PaymentsForRent
23000 usd
USEG Discount Rate
DiscountRate
0.10 pure
CY2022Q1 us-gaap Derivative Net Hedge Ineffectiveness Gain Loss
DerivativeNetHedgeIneffectivenessGainLoss
3100000 usd
CY2022Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
6325000 usd
CY2022Q2 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
1308000 usd
CY2022Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
7633000 usd
CY2022Q2 USEG Derivative Settlement Gain Loss
DerivativeSettlementGainLoss
-2829000 usd
CY2021Q2 USEG Derivative Settlement Gain Loss
DerivativeSettlementGainLoss
-38000 usd
USEG Derivative Settlement Gain Loss
DerivativeSettlementGainLoss
-4487000 usd
USEG Derivative Settlement Gain Loss
DerivativeSettlementGainLoss
-40000 usd
CY2022Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-2132000 usd
CY2021Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-317000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-8969000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-210000 usd
CY2021Q4 us-gaap Proceeds From Insurance Settlement Operating Activities
ProceedsFromInsuranceSettlementOperatingActivities
375000 usd
CY2021Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
427000 usd
CY2022Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
9600000 usd
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1408000 usd
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
10334000 usd
CY2021 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
45000 usd
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
131000 usd
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
163000 usd
CY2021 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
70000 usd
CY2022Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
500000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3262000 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
448000 usd
CY2021 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
78000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
122000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-207000 usd
CY2022Q2 USEG Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber
30285 shares
CY2022Q2 USEG Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice
60.11
CY2021Q4 USEG Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber
31035 shares
CY2021Q4 USEG Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice
62.79
CY2022Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
30285 shares
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
7.20
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
226.20
CY2022Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
60.11
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P3Y7M6D
CY2022Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
30285 shares
CY2022Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
60.11
CY2022Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
12211000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
174000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.75
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
986500 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.70
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
373500 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
4.02
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
787000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.78
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1800000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y3M18D
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1461000 usd
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1461000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.455 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000 pure
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2400000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-369000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24924000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4676000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24324000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4305000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
341000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25265000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4676000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24324000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4305000 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
30000 shares
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
255000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
817000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
231000 shares
us-gaap Interest Paid Net
InterestPaidNet
86000 usd
us-gaap Interest Paid Net
InterestPaidNet
3000 usd
USEG Change In Capital Expenditure Accruals
ChangeInCapitalExpenditureAccruals
453000 usd
USEG Change In Capital Expenditure Accruals
ChangeInCapitalExpenditureAccruals
256000 usd
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
546000 usd
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
64694000 usd
USEG Assumption Of Commodity Derivative Liability In Acquisition Of Properties
AssumptionOfCommodityDerivativeLiabilityInAcquisitionOfProperties
3152000 usd
USEG Assumption Of Debt In Acquisition Of Properties
AssumptionOfDebtInAcquisitionOfProperties
3347000 usd
USEG Assumption Of Suspense Accounts In Acquisition Of Properties
AssumptionOfSuspenseAccountsInAcquisitionOfProperties
1276000 usd
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
953000 usd
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
82000 usd
USEG Asset Retirement Obligations
AssetRetirementObligations
10302000 usd
USEG Asset Retirement Obligations
AssetRetirementObligations
44000 usd
us-gaap Stock Issued1
StockIssued1
438000 usd
USEG Issuance Of Stock For Settlement Of Related Party Legal Costs
IssuanceOfStockForSettlementOfRelatedPartyLegalCosts
406000 usd
USEG Financing Of Insurance Premiums With Note Payable
FinancingOfInsurancePremiumsWithNotePayable
588000 usd
USEG Financing Of Insurance Premiums With Note Payable
FinancingOfInsurancePremiumsWithNotePayable
223000 usd

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