U.S. Energy Corp. (USEG) reported Monday narrower net loss in its first quarter, despite weak revenues.
In the quarter, net loss was $3.11 million or $0.10 per share, compared to prior year's loss of $9.54 million or $0.38 per share.
Adjusted EBITDA was negative $1.5 million, compared to prior year's positive adjusted EBITDA of $0.2 million.
Total oil and gas sales for the quarter were $2.19 million, down from $5.39 million in the same quarter of 2024.
Total hydrocarbon production for the first quarter of 2025 was approximately 47,008 BOE consisting of 64% oil production.
The decrease in production and revenue primarily reflected the effects of the company's divestiture program throughout 2024 and the decline in oil pricing.
Oil sales accounted for 81%of total revenue this quarter, compared to 88% in the first quarter of 2024.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.