U.S. Energy Corp. (NasdaqCM:USEG) signed a letter of intent to acquire Assets of Synergy Offshore LLC. for $13.4 million on June 1, 2024. As per the consideration U.S. Energy Corp. (NasdaqCM:USEG) will pay $2 million in cash, 4.845900 million shares which represents $5 million in value and 6.250000 of warrants to acquire USEG common stock that vest upon the first sale of helium from the Initial Processing Plant. Closing of the asset purchase agreement is expected on or before September 30, 2024.

U.S. Energy Corp. (NasdaqCM:USEG) completed the acquisition of Assets of Synergy Offshore LLC on June 17, 2024.