U.S. Energy board authorizes $5M share repurchase program

U.S. Energy announced that its Board of Directors has authorized a share repurchase program under which the Company may purchase up to $5M of its outstanding shares of common stock in the open market, in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934. The Company’s decision to repurchase its shares, as well as the timing of such repurchases, will depend on a variety of factors, including the ongoing assessment of the Company’s capital needs, the market price of the Company’s common stock, general market conditions and other corporate considerations, as determined by management. "U.S. Energy has a focused and disciplined capital allocation strategy that prioritizes growing cash flow through accretive acquisitions and returning cash to shareholders. The significant increases to cash flow generated by the successful integration of our acquisitions have provided the means to pay a meaningful dividend since the second quarter of 2022," said Ryan Smith, U.S. Energy’s Chief Executive Officer.