U.S. Energy Corp shares fall on wider-than-expected loss

Big Sky Industrial

14/04/2023 15:24

** Shares of U.S.-based energy company U.S. Energy Corp.  USEG.O  down 3.6% at $1.33
    ** Co reports Q4 oil and gas sales of about $10.4 mln vs $11.8 mln sequentially
    ** "Decline in revenue was primarily due to a 20% decline in realized prices during the
quarter" - co
    ** USEG reports qtrly net loss of $0.07/shr, wider than avg analysts estimates of loss of
$0.01/shr - Refinitiv IBES 
    ** In quarter, co produced an avg of 1,918 Boe/d vs 1,752 Boe/d in the priod quarter
    ** USEG down 41.3% YTD

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))