$USEG
US ENERGY CORP

2023 Q1 Form 10-Q Financial Statement

#000149315223016393 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $8.272M $8.872M
YoY Change -6.76% 633.22%
Cost Of Revenue $7.460M $5.193M
YoY Change 43.65% 574.42%
Gross Profit $812.0K $3.679M
YoY Change -77.93% 717.56%
Gross Profit Margin 9.82% 41.47%
Selling, General & Admin $2.772M $2.946M
YoY Change -5.91% 298.11%
% of Gross Profit 341.38% 80.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.417M $1.886M
YoY Change 28.15% 1471.67%
% of Gross Profit 297.66% 51.26%
Operating Expenses $10.23M $2.946M
YoY Change 247.32% 303.56%
Operating Profit -$1.960M $733.0K
YoY Change -367.39% -361.79%
Interest Expense $651.0K -$6.806M
YoY Change -109.57% -6287.27%
% of Operating Profit -928.51%
Other Income/Expense, Net $651.0K $0.00
YoY Change -100.0%
Pretax Income -$1.309M -$6.073M
YoY Change -78.45% 3695.63%
Income Tax -$62.00K -$2.689M
% Of Pretax Income
Net Earnings -$1.247M -$3.384M
YoY Change -63.15% 1988.89%
Net Earnings / Revenue -15.07% -38.14%
Basic Earnings Per Share -$0.05 -$0.14
Diluted Earnings Per Share -$0.05 -$142.7K
COMMON SHARES
Basic Shares Outstanding 25.18M shares 23.72M shares
Diluted Shares Outstanding 25.18M shares 23.72M shares

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.528M $1.719M
YoY Change 47.06% -77.08%
Cash & Equivalents $2.421M $1.447M
Short-Term Investments $107.0K $272.0K
Other Short-Term Assets $1.160M $1.021M
YoY Change 13.61% -31.93%
Inventory
Prepaid Expenses $747.0K
Receivables $2.048M $4.270M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.911M $7.010M
YoY Change -15.68% -26.98%
LONG-TERM ASSETS
Property, Plant & Equipment $861.0K $95.82M
YoY Change -99.1% 1082.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $343.0K $2.187M
YoY Change -84.32%
Total Long-Term Assets $109.1M $98.01M
YoY Change 11.27% 1109.98%
TOTAL ASSETS
Total Short-Term Assets $5.911M $7.010M
Total Long-Term Assets $109.1M $98.01M
Total Assets $115.0M $105.0M
YoY Change 9.48% 493.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.641M $4.913M
YoY Change 55.53% 445.89%
Accrued Expenses $531.0K $277.0K
YoY Change 91.7% 38.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.198M $13.56M
YoY Change -32.14% 868.21%
LONG-TERM LIABILITIES
Long-Term Debt $12.00M $3.500M
YoY Change 242.86%
Other Long-Term Liabilities $6.000K $11.81M
YoY Change -99.95% 594.82%
Total Long-Term Liabilities $6.000K $15.31M
YoY Change -99.96% 800.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.198M $13.56M
Total Long-Term Liabilities $6.000K $15.31M
Total Liabilities $37.88M $28.87M
YoY Change 31.23% 831.19%
SHAREHOLDERS EQUITY
Retained Earnings -$140.4M
YoY Change
Common Stock $217.5M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $77.09M $76.15M
YoY Change
Total Liabilities & Shareholders Equity $115.0M $105.0M
YoY Change 9.48% 493.32%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.247M -$3.384M
YoY Change -63.15% 1988.89%
Depreciation, Depletion And Amortization $2.417M $1.886M
YoY Change 28.15% 1471.67%
Cash From Operating Activities $236.0K $487.0K
YoY Change -51.54% -190.19%
INVESTING ACTIVITIES
Capital Expenditures $261.0K -$1.797M
YoY Change -114.52% 372.89%
Acquisitions $783.0K
YoY Change
Other Investing Activities $0.00 -$1.456M
YoY Change -100.0% -3012.0%
Cash From Investing Activities -$1.367M -$3.253M
YoY Change -57.98% 885.76%
FINANCING ACTIVITIES
Cash Dividend Paid $596.0K
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$859.0K -209.0K
YoY Change 311.0% -103.99%
NET CHANGE
Cash From Operating Activities $236.0K 487.0K
Cash From Investing Activities -$1.367M -3.253M
Cash From Financing Activities -$859.0K -209.0K
Net Change In Cash -$1.990M -2.975M
YoY Change -33.11% -168.08%
FREE CASH FLOW
Cash From Operating Activities $236.0K $487.0K
Capital Expenditures $261.0K -$1.797M
Free Cash Flow -$25.00K $2.284M
YoY Change -101.09% -1527.5%

Facts In Submission

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CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
24000 usd
CY2023Q1 us-gaap Increase Decrease In Unproved Oil And Gas Property
IncreaseDecreaseInUnprovedOilAndGasProperty
-1145000 usd
CY2022Q1 us-gaap Increase Decrease In Unproved Oil And Gas Property
IncreaseDecreaseInUnprovedOilAndGasProperty
3337000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-52000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
212000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-715000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2594000 usd
CY2023Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-754000 usd
CY2022Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-990000 usd
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-58000 usd
CY2022Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-27000 usd
CY2023Q1 us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-11000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
236000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
487000 usd
CY2022Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
783000 usd
CY2023Q1 USEG Payment To Oil And Natural Gas Capital Expenditures
PaymentToOilAndNaturalGasCapitalExpenditures
1106000 usd
CY2022Q1 USEG Payment To Oil And Natural Gas Capital Expenditures
PaymentToOilAndNaturalGasCapitalExpenditures
855000 usd
CY2022Q1 USEG Payment To Expenditures For Cash Calls
PaymentToExpendituresForCashCalls
1456000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
261000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
159000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1367000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3253000 usd
CY2022Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
4000000 usd
CY2022Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
3847000 usd
CY2022Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
172000 usd
CY2023Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
112000 usd
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
78000 usd
CY2022Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
195000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
151000 usd
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
307000 usd
CY2023Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
596000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-859000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-209000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1990000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2975000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4411000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4422000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2421000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1447000 usd
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
28122 shares
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zuKRY7hliQh9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_z9To14gsvZ6b">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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 the fair value of 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 oil and natural gas properties; realizability of unevaluated properties; production and commodity price estimates used to record accrued oil and natural gas 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 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8272000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8872000 usd
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
7.20
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
226.20
CY2023Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
54.03
CY2023Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P3Y1M6D
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
28122 shares
CY2023Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
54.03
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
813000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
868000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
174000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
189000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
750000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
794000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
924000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
983000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
65000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
31000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
269000 usd
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2000 usd
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
16000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
334000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
17000 usd
CY2023Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
265000 usd
CY2022 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
941000 usd
CY2023Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
15748000 usd
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
15442000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y10M24D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0425 pure
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0926 pure
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
156000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
213000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
218000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
224000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
210000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1021000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
97000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
924000 usd
CY2023Q1 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
0 usd
CY2022Q1 us-gaap Oil And Gas Property Successful Effort Method Net
OilAndGasPropertySuccessfulEffortMethodNet
0 usd
CY2023Q1 USEG Discount Rate
DiscountRate
0.10 pure
CY2022Q1 us-gaap Derivative Net Hedge Ineffectiveness Gain Loss
DerivativeNetHedgeIneffectivenessGainLoss
3100000 usd
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
817000 shares
CY2023Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
369000 usd
CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1694000 usd
CY2023Q1 USEG Derivative Liability Statement Of Financial Position Extensible Enumeration Not Disclosed Flag
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag
369000 usd
CY2022Q4 USEG Derivative Liability Statement Of Financial Position Extensible Enumeration Not Disclosed Flag
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag
1694000 usd
CY2023Q1 USEG Derivative Settlement Gain Loss
DerivativeSettlementGainLoss
-406000 usd
CY2022Q1 USEG Derivative Settlement Gain Loss
DerivativeSettlementGainLoss
-1644000 usd
CY2023Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
919000 usd
CY2022Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-6837000 usd
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
25234672 shares
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
245000000 shares
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
5000000 shares
CY2022Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
19905736 shares
CY2023Q1 USEG Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber
28122 shares
CY2023Q1 USEG Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice
54.03
CY2022Q1 USEG Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber
28122 shares
CY2022Q1 USEG Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice
54.03
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
687000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.79
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
796434 shares
CY2023Q1 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
2.30
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
273000 shares
CY2023Q1 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
3.78
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1210434 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2.81
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
700000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1500000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
2600000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y1M6D
CY2022Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
9600000 usd
CY2022Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
500000 usd
CY2022Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1700000 usd
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
15442000 usd
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1461000 usd
CY2023Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
11000 usd
CY2022 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
11811000 usd
CY2023Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
4000 usd
CY2022 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
1825000 usd
CY2023Q1 USEG Asset Retirement Obligation Revision Of Fixed
AssetRetirementObligationRevisionOfFixed
11000 usd
CY2022 USEG Asset Retirement Obligation Revision Of Fixed
AssetRetirementObligationRevisionOfFixed
407000 usd
CY2022 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
189000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.04 pure
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.43 pure
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2400000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1247000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-3384000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25179000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23717000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25179000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23717000 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1238000 shares
CY2022Q1 USEG Fair Valueof Asset Acquisitions Percentage
FairValueofAssetAcquisitionsPercentage
0.10 pure
CY2022Q1 USEG Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Fair Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringFairValue
87700000 usd
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
7300000 usd
CY2022Q3 us-gaap Area Of Land
AreaOfLand
13.84 acre
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
747000 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
138000 usd
CY2023Q1 USEG Joint Interest Billings Receivable
JointInterestBillingsReceivable
325000 usd
CY2022Q4 USEG Joint Interest Billings Receivable
JointInterestBillingsReceivable
332000 usd
CY2023Q1 us-gaap Income Tax Receivable
IncomeTaxReceivable
50000 usd
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
50000 usd
CY2023Q1 USEG Other Current Assets
OtherCurrentAssets
38000 usd
CY2022Q4 USEG Other Current Assets
OtherCurrentAssets
38000 usd
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
1160000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
558000 usd
CY2023Q1 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
2212000 usd
CY2022Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
2566000 usd
CY2023Q1 USEG Accrued Operating Expenses
AccruedOperatingExpenses
1055000 usd
CY2022Q4 USEG Accrued Operating Expenses
AccruedOperatingExpenses
1378000 usd
CY2023Q1 USEG Accrued Revenue Payables
AccruedRevenuePayables
3582000 usd
CY2022Q4 USEG Accrued Revenue Payables
AccruedRevenuePayables
3503000 usd
CY2023Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
186000 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
319000 usd
CY2023Q1 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
597000 usd
CY2022Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
54000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
9000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
12000 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
7641000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
7832000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
268000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
36000 usd
CY2023Q1 USEG Change In Capital Expenditure Accruals
ChangeInCapitalExpenditureAccruals
18000 usd
CY2022Q1 USEG Change In Capital Expenditure Accruals
ChangeInCapitalExpenditureAccruals
166000 usd
CY2022Q1 us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
546000 usd
CY2022Q1 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
64694000 usd
CY2022Q1 USEG Assumption Of Commodity Derivative Liability In Acquisition Of Properties
AssumptionOfCommodityDerivativeLiabilityInAcquisitionOfProperties
3152000 usd
CY2022Q1 USEG Assumption Of Debt In Acquisition Of Properties
AssumptionOfDebtInAcquisitionOfProperties
3347000 usd
CY2022Q1 USEG Assumption Of Suspense Accounts In Acquisition Of Properties
AssumptionOfSuspenseAccountsInAcquisitionOfProperties
1276000 usd
CY2023Q1 USEG Asset Retirement Obligations
AssetRetirementObligations
43000 usd
CY2022Q1 USEG Asset Retirement Obligations
AssetRetirementObligations
9614000 usd
CY2023Q1 USEG Financing Of Insurance Premiums With Note Payable
FinancingOfInsurancePremiumsWithNotePayable
654000 usd
CY2022Q1 USEG Financing Of Insurance Premiums With Note Payable
FinancingOfInsurancePremiumsWithNotePayable
588000 usd

Files In Submission

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useg-20230331_cal.xml Edgar Link unprocessable
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0001493152-23-016393-index.html Edgar Link pending
0001493152-23-016393.txt Edgar Link pending
0001493152-23-016393-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
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