U.S. Energy to Sell Certain Assets in East Texas for About $6.8 Million

MT Newswires Live

2024/12/13

U.S. Energy (USEG) said Friday it has executed documents to sell certain assets in Anderson, Chambers, Henderson, and Liberty counties in Texas to an unnamed private buyer for roughly $6.8 million in cash.

The company intends to complete the transaction around Dec. 31, it added.

U.S. Energy said it expects to use the proceeds to finance the continued development of its industrial gas project in Montana.

Shares of the company rose nearly 5% in recent Friday trading.

Price: 1.65, Change: +0.08, Percent Change: +4.78

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