U.S. Energy Corp gains, to sell its South Texas assets for $6.5 mln

Big Sky Industrial

09/07/2024 21:53

** Shares of U.S. Energy Corp  USEG.O  up 9.9% at $1.22 in
extended trading
    ** The energy company to sell its South Texas assets for
$6.5 million to two separate private buyers
    ** USEG will use proceeds from sale to fund development of
previously announced acquisition, targeting helium assets and
repay outstanding debt
    ** Sale is expected to close by July 31
    ** As of Tuesday's close, stock is up 11% YTD

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))