U.s. Energy Corp. · NASDAQ:USEG
U.s. Energy — Investor Presentation (June 2021)
13 slides from U.s. Energy's investor presentation, Jun 9, 2021
Slide 1: Corporate Overview
a U.S. ENERGY CORP. —— Corporate Overview June 2021
Slide 2: Disclaimer & Forward-Looking Statements
5 . . jet Disclaimer & Forward-Looking Statements US. ENERGY CoRP. Forward Looking Statements The information in this presentation includes “forward-looking statements” that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, All statements, other
Slide 3: U.S. Energy Corp. Overview
U.S. Energy Corp. Overview U.S. ENERGY CORP. L- * U.S. Energy Corp. (“USEG”) is a public energy company focused on the acquisition and development of producing oil and gas properties with existing infrastructure with the goal of maximizing our return on capital in a sustainable and efficient manner.
Slide 4: Recent Successful M&A Activity
Recent Successful M&A Activity “Ce = USEG has completed three M&A transactions since existing management [perio took control in December 2019. 302020, Asset Overvi ar = Added a total of $10.9 mm PDP PV-10 at current strip for total purchase | Purchase of Op. & Non-Op. Assetsintes | aggregate conside
Slide 5: Recent Successful Capital Markets Activity
Recent Successful Capital Markets Activity US. vitoy Corr = Successfully accessed public equity markets for strategic acquisitions in extremely difficult market. Mornexeee Decne betes Date Amount SMM) shares issued Issued Offering Price Close at Pricing Date = USEG raised ~$10.9 million through thre
Slide 6: Reserve Summary
U.S. ENERGY CORP. L- Reserve Summary US Energy Corp. Reserve Summary (March 34, 2021} 7 Natural Gas@) Total Reserves (mbbl) (mcr) (MBOE) % of Total Reserves _PV-10l1) ($MM) PDP 1,090 2,086 1,438 92% $18. PDNP 124 124 8% Total Proved 1,214 2,086 1,562 100% Rey 31, Proved PV-10 by Region Non- Natural
Slide 7: North Dakota Bakken - Asset Overview
North Dakota Bakken - Asset Overview = Legacy non-operated asset underpinned by large operators in the Williston Basin in McKenzie, Williams, and Mountrail Counties, ND. = 95% Non-Operated / 5% Operated + Current production: Approximately 125 Boe/d (82% oil) = PDP PV-10: $7.0 million = 92 non-operat
Slide 8: West Texas/New Mexico and South Texas - Asset Overview
West Texas/New Mexico and South Texas - Asset Overview U.S. ENERGY CORP. L- Mix of recent acquisitions and legacy properties located primarily in Lea County, New Mexico and Dimmit and Zavala counties, Texas. = Opportunity to continue acquisition strategy with a number of targets identified. New Mexi
Slide 9: Gulf Coast - Liberty County Asset Overview & Acquisition Case Study
= Focus of recent acquisition located in Liberty County, TX. = Management expects to continue opportunistic acquisition strategy in the area. = 100% Operated, 100% WI (~85% NRI). = 680 net acres — 100% HBP. = Current production of 80-100 Bbls/d (100% oil). = PDP PV-10: $5.6 million. = Further materi
Slide 10: Proven Track Record of Cutting Costs and Reducing Leverage
% : ZEN Proven Track Record of Cutting Costs and Reducing Leverage US. ENERGY CORP. = Since taking over in December 2019, current USEG management has executed on an extensive cost cutting initiative. = Reduced total annual G&A approximately 40% year-over-year. = Management has been successful in rem
Slide 11: USEG Has Been Successful In Repositioning the Company
USEG Has Been Successful In Repositioning the Company US. ENERGY CorP. Year-End 2019 Key Financials (mm) Year-End 2020 Key Financials( (mm) Re-capitalized balance sheet through public capital raises. (Cash & Cash Equivalents sis —_———— he ash Equivalents Total Current Assets 20 Total Current Assets
Slide 12: Experienced and Aligned Management Team & Board of Directors
L- 2 Experienced and Aligned Management Team & Board of Directors ( S. ENERGY CORP. D.stephensteck | tomer W.Dennyi | _andatio.tays | _tavirt.Pico | yan mith | Independent Chairman Independent Director Independent Director Independent Director ‘CEO and Director “+ Me. Sick is the former President an
Slide 13: Appendix - Reserve Summary and PV-10 (Non-GAAP Financial Measure)
Appendix- Reserve Summary and PV-10 (Non-GAAP Financial Measure) ae U.S. ENERGY CORP. L- The information presented below includes the stand-alone reserve quantities and PV-10 for U.S. Energy as of March 31, 2021 prepared in accordance with Society of Petroleum Engineers’ 2018 Petroleum Resources Man