U.S. Energy Corp. owns non-operated oil and gas interest in three primary areas in North Dakota, Texas and Louisiana. The interest is spread across 124 oil and gas wells.
The Company owns interest in 40 Drill Space Units with the Bakken and Trhee Forks formations as the primary targeted oil zone. The acreage positions are located in western KcKenzie county and minor interests in Mountrail County with opportunity to develop additional acreage in the DSU’s. U.S. Energy’s goal and focus is to consolidate these non-operated positions to a smaller footprints to economically develop and operate. Currently U.S. Energy’s interest is operated by Zavanna Energy, Bruin E&P, Petro-Hunt and EOG.
U.S. Energy’s interest in South Texas is focused in the Eagle Ford, Buda, Georgetown and Austin Chalk formations. The company owns non-operated interest under the approximately 3600 acres in Zavala and Dimmitt counties. The wells and interests are primarily operated by Contango Oil and Gas and CML Exploration.
U.S. Energy Corp. has participated in an exploration program in southern Louisiana with PetroQuest. Currently a successful exploration well is producing from the Text-L formation in Terrebone Parish Louisiana.