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U.S. Energy: Debt Restructuring and Asset Sales Create New Drilling Opportunities

NEW YORK, NY / ACCESSWIRE / October 26, 2017 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report with no obligation on U.S. Energy Corp. (USEG), an independent energy company focused on the lease acquisition and development of oil and gas producing properties in the continental United States. Their business is currently focused in the Williston Basin of North Dakota and South Texas.

U.S. Energy has announced several new developments during the month of October. Investors indicated their approval of the USEG developments by driving the company's shares from $.75 to $1.28/share (+70%) during the month, with spikes even higher than that.

Read details of the recent USEG moves and how they will impact the company READ MORE

Copy and paste to your browser may be required to view the report - http://tradersnewssource.com/u-s-energy/

The company announced it will participate in the upcoming horizontal drilling program on its existing acreage position targeting the development of the Georgetown formation in Zavala and Dimmit Counties, Texas. The development program will take place on acreage positions previously developed for shallower horizons. Operations are expected to begin in late October 2017 and the initial well will be drilled as a dual lateral.

U.S. Energy plans to participate in up to 6 horizontal wells on its existing acreage position, and the company's working interests range from approximately 6%-15% across the entire position. This is the first newly drilled well that U.S. Energy has participated in since early 2015.

The company reached an agreement to substantially reduce its debt and announced it has entered into a purchase and sale agreement to sell certain non-operated assets in the Williston Basin.

A financial review and project description, as well as management comments READ MORE

Copy and paste to your browser may be required to view the report - http://tradersnewssource.com/u-s-energy/

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SOURCE: Traders News Source

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