--- title: "U.S. Energy | 8-K: FY2026 Q1 Revenue: USD 1.604 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285535402.md" datetime: "2026-05-07T11:03:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285535402.md) - [en](https://longbridge.com/en/news/285535402.md) - [zh-HK](https://longbridge.com/zh-HK/news/285535402.md) --- # U.S. Energy | 8-K: FY2026 Q1 Revenue: USD 1.604 M Revenue: As of FY2026 Q1, the actual value is USD 1.604 M. EPS: As of FY2026 Q1, the actual value is USD -0.08, missing the estimate of USD -0.04. EBIT: As of FY2026 Q1, the actual value is USD -3.081 M. ### First Quarter 2026 Financial Results #### Revenue - Total Revenue for U.S. Energy Corp. was $1.6 million for Q1 2026, compared to $2.2 million for Q1 2025. This decline was primarily due to strategic divestitures and natural production declines . - Oil revenue was $1,376 thousand for Q1 2026, compared to $1,770 thousand for Q1 2025 . - Natural gas and liquids revenue was $228 thousand for Q1 2026, compared to $423 thousand for Q1 2025 . #### Production - Production was 34,290 barrels of oil equivalent (“BOE”) (68% oil) for Q1 2026, down from 47,008 BOE for Q1 2025 . #### Realized Average Sales Prices - Realized average sales prices averaged $46.78/BOE for Q1 2026, with oil at $63.00/bbl and natural gas at $3.05/mcf . - This compares to an average of $46.65/BOE for Q1 2025, with oil at $59.01/bbl and natural gas at $4.14/mcf . #### Operating Expenses - Lease operating expense was $0.9 million for Q1 2026, down from $1.6 million for Q1 2025 . - Production taxes were $130 thousand for Q1 2026, compared to $148 thousand for Q1 2025 . - Depreciation, depletion, accretion and amortization was $559 thousand for Q1 2026, compared to $1,119 thousand for Q1 2025 . - Exploration expense was $101 thousand for Q1 2026, compared to $- thousand for Q1 2025 . - General and administrative expenses were $3.0 million for Q1 2026, up from $1.9 million for Q1 2025, reflecting elevated professional fees and compensation due to strategic transformation . - Total operating expenses were $4,748 thousand for Q1 2026, compared to $5,281 thousand for Q1 2025 . #### Profitability - Operating loss was -$3,144 thousand for Q1 2026, compared to -$3,088 thousand for Q1 2025 . - Net loss was -$3.2 million, or -$0.08 per diluted share, for Q1 2026, compared to -$3,111 thousand, or -$0.10 per diluted share, for Q1 2025 . - Net loss before income taxes was -$3,185 thousand for Q1 2026, compared to -$3,111 thousand for Q1 2025 . - Adjusted EBITDA was -$2.1 million for Q1 2026, compared to -$1,498 thousand for Q1 2025 . #### Other Income (Expense) - Interest expense, net, was -$63 thousand for Q1 2026, compared to -$47 thousand for Q1 2025 . - Other income, net, was $22 thousand for Q1 2026, compared to $24 thousand for Q1 2025 . - Total other expense was -$41 thousand for Q1 2026, compared to -$23 thousand for Q1 2025 . #### Equity Compensation Expense - Equity compensation expense was $0.4 million for both Q1 2026 and Q1 2025 . ### Balance Sheet and Liquidity Update (as of April 30, 2026, unless stated otherwise) - Cash Balance was $10.4 million . - Total Available Liquidity was $27.9 million, including $17.5 million of undrawn capacity under the senior secured credit facility . - Total Debt Outstanding was $2,500 thousand as of April 30, 2026, March 31, 2026, and December 31, 2025 . - Net Debt Balance was -$7,860 thousand as of April 30, 2026, and -$7,951 thousand as of March 31, 2026, compared to $2,071 thousand as of December 31, 2025 . - Total Assets were $55,191 thousand as of March 31, 2026, up from $40,630 thousand as of December 31, 2025 . - Total Liabilities were $16,716 thousand as of March 31, 2026, up from $16,435 thousand as of December 31, 2025 . - Total Shareholders’ Equity was $38,475 thousand as of March 31, 2026, up from $24,195 thousand as of December 31, 2025 . ### Cash Flows from Operating Activities (Three Months Ended March 31) - Net cash used in operating activities was -$2,452 thousand for 2026, compared to -$4,544 thousand for 2025 . - Net cash used in investing activities was -$4,431 thousand for 2026, compared to -$2,422 thousand for 2025 . - Net cash provided by financing activities was $16,905 thousand for 2026, compared to $9,745 thousand for 2025 . - Net change in cash and equivalents was $10,022 thousand for 2026, compared to $2,779 thousand for 2025 . - Cash and equivalents, end of period, was $10,451 thousand for 2026, compared to $10,502 thousand for 2025 . ### Operational Metrics and Unique Metrics - U.S. Energy Corp. achieved Final Investment Decision (FID) and executed a fixed-scope engineering, procurement, and construction (EPC) agreement for its Big Sky Carbon Hub Phase 1 Processing Facility . The plant is designed for approximately 8 MMcf/d of inlet capacity, targeting approximately 14 MMcf of high-purity helium and approximately 125,000 metric tons of refined CO₂ per year at initial operations . - U.S. Energy Corp. signed a five-year, 100% take-or-pay helium sales agreement at a fixed plant-gate price of $285 per Mcf, with CPI-linked escalation beginning March 1, 2028, and a year-three pricing redetermination . - The company amended its senior secured credit agreement, doubling the borrowing base to $20 million, fixing the interest margin at 200 basis points over the alternate base rate, and suspending quarterly financial covenant testing through Q1 2027 . The facility matures May 31, 2029 . - Monitoring, Reporting, and Verification (“MRV”) submissions for Big Rose and Cut Bank are in active EPA review, with approvals expected during summer 2026 . These approvals are necessary to access the Section 45Q tax credit framework, representing approximately $130 million of credit value over the first 12 years of Phase 1 operations . ### Outlook / Guidance U.S. Energy Corp. targets commercial operations for its Big Sky Carbon Hub Phase 1 processing facility in the first quarter of 2027 . The company anticipates its liquidity is sufficient to fund Phase 1 through commercial operations without relying on public equity markets . MRV application approvals, which unlock approximately $130 million in tax credits, are expected during the summer of 2026 . ### Related Stocks - [USEG.US](https://longbridge.com/en/quote/USEG.US.md) - [BSIN.US](https://longbridge.com/en/quote/BSIN.US.md) ## Related News & Research - [Paramount Skydance amends 8-K to correct pro forma financial statement table in Exhibit 99.3](https://longbridge.com/en/news/294873320.md) - [BioCryst amends 8-K, estimates $6.2 million-$7.5 million in one-time severance costs for discovery shutdown plan](https://longbridge.com/en/news/294811169.md) - [EOSE: Q2 2026 revenue up 351% year-over-year, backlog hits $807M, guidance set at $300–$350M](https://longbridge.com/en/news/294955525.md) - [Alkermes amends 8-K to disclose CEO Blair Jackson pay package including $5 million equity award](https://longbridge.com/en/news/294732239.md) - [Diamondback Q2 FY26 net income climbs to $1.88 billion; revenue rises to $5.56 billion](https://longbridge.com/en/news/294731033.md)