U.S. Energy Corp. Announces Extension of $5.0 Million Share Repurchase Program and Separate Affiliate Share Repurchase

Core Viewpoint - U.S. Energy Corp. has extended its share repurchase program, allowing for the purchase of up to $5.0 million of its common stock, with approximately$3.8 million remaining for future repurchases, now set to expire on June 30, 2026 [1][2][4]. Share Repurchase Program - The share repurchase program was initially approved in April 2023 and extended in March 2024, reflecting the company's commitment to capital allocation and shareholder value [1][3]. - Since the program's initiation, the company has repurchased 985,000 shares, which is 2.8% of total shares outstanding, at an average price of $1.24 per share [4]. Management Commentary - The CEO emphasized a disciplined capital allocation strategy aimed at enhancing shareholder value through the share repurchase program, which is seen as a tax-efficient method of returning capital to shareholders [3]. Affiliate Share Repurchase - Following a recent underwritten offering, the company repurchased 635,400 shares from affiliates of Sage Road Capital at a price of$2.47775 per share, with these affiliates continuing to hold 6,304,037 shares as of January 29, 2025 [5]. Financial Disclosures - The repurchase program allows for shares to be bought back in the open market or through negotiated transactions, with management having discretion over the timing and pricing of repurchases [8][10]. - All shares repurchased will be retired and returned to treasury [11].