U.S. Energy Corp. announced on December 31, 2024, the successful closing of the sale of its East Texas assets. This transaction, previously announced on December 12, 2024, marks the completion of a significant divestment of the company's legacy oil and gas properties.
The proceeds from this sale will be strategically allocated to advancing U.S. Energy's industrial gas project in Montana. This capital infusion is expected to enhance the company's liquidity and strengthen its balance sheet, providing resources for its new growth initiatives.
CEO Ryan Smith stated that this milestone positions U.S. Energy with greater financial flexibility, enabling it to focus on its transformation into a leading industrial gas company. The divestment streamlines operations and supports the company's strategic reorientation.
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