U.S. Energy Corporation announced on September 25, 2024, that it has fully repaid the outstanding balance of its credit facility, making the company entirely debt-free. This financial milestone provides a clean balance sheet, enhancing the company's liquidity and capital structure as it executes its strategic transformation.
Concurrently, the company confirmed the commencement of its Kevin Dome development program in Northwest Montana. This program is central to U.S. Energy's strategic pivot towards becoming a growth-oriented industrial gas company, focusing on helium, carbon dioxide, and nitrogen production.
The initiation of the development program signals a tangible step forward in leveraging the company's dominant acreage position in the Kevin Dome. This operational progress, combined with a strengthened financial position, underpins the company's commitment to its new growth drivers and long-term shareholder value creation.
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