U.S. Energy Corporation announced on January 29, 2025, that its Board of Directors authorized the extension of its $5.0 million share repurchase program through June 30, 2026. The program was originally set to expire on June 30, 2025, and approximately $3.8 million remains available for future repurchases.
Since initiating the program in April 2023, the company has repurchased 985,000 shares at an average price of $1.24 per share, representing 2.8% of its total shares outstanding. This ongoing program reflects a disciplined capital allocation strategy aimed at creating value for shareholders.
Separately, immediately following the recently completed underwritten public offering, U.S. Energy repurchased 635,400 common shares from certain affiliates of Sage Road Capital at a price of $2.47775 per share, using cash on hand. This affiliate repurchase, distinct from the main program, further underscores management's conviction in the company's stock value.
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