Energy Corporation (NASDAQ: USEG)
Innovative energy company U.S. Energy reported financial results for Q3 2025, showcasing progress in Montana’s industrial gas project. The company drilled three wells, achieving a peak rate of 12.2 MMcf/d, with plans for a fourth in Spring 2026. Infrastructure development is underway, including a gas processing facility and land acquisition. Carbon management initiatives are progressing, with CO₂ sequestration and EOR projects in motion. A recent resource report estimates 1.3 BCF of net helium and 443.8 BCF of net CO2 resources. U.S. Energy maintains a solid balance sheet with $11.4 million in available liquidity. Third-quarter financial results show a PDP reserve base of 1.5 million BOE, producing approximately 35,326 BOE in Q3 2025. Total oil and gas sales were $1.7 million, a decrease from $5.0 million in Q3 2024, primarily due to divestitures. Lease operating expenses were $1.0 million, with reduced G&A expenses of $1.7 million. Adjusted EBITDA was ($1.3) million, with a net loss of $3.3 million in Q3 2025. U.S. Energy remains committed to driving growth and value for shareholders through strategic initiatives in industrial gas and carbon management. Clinical results from Phase 2 pivotal portion of PYNNACLE study reveal 34% overall response rate among 103 patients with rezatapopt, with 46% ORR among 48 ovarian cancer patients. NDA submission for platinum-resistant ovarian cancer planned for Q1 2027. U.S. Energy Corp focuses on developing energy assets with $129.3 million in cash, equivalents, and securities as of Sept 30, 2025. Updated clinical results from the Phase 2 pivotal portion of the PYNNACLE study evaluating rezatapopt were presented at the 2025 AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics. The study showed a 34% overall response rate among 103 patients with a median duration of response of 7.6 months. In the ovarian cancer cohort, a 46% overall response rate was observed among 48 patients with a median duration of response of 8.0 months. A New Drug Application submission for rezatapopt in platinum-resistant/refractory ovarian cancer is planned for the first quarter of 2027. The company reported cash, cash equivalents, and marketable securities of $129.3 million as of September 30, 2025, providing expected cash runway to the end of the first quarter of 2027.
The unaudited condensed consolidated balance sheets of U.S. Energy Corp. and Subsidiaries as of September 30, 2025, showed total assets of $46,497, with current assets of $2,799 and total liabilities of $21,458. The unaudited condensed consolidated statements of operations for the three and nine months ended September 30, 2025, showed a net loss of $3,341 for the quarter and $12,510 for the nine months. Adjusted EBITDA for the quarter was $(1,334).
Cash flows from operating activities for U.S. Energy Corp. and Subsidiaries in 2025 showed a net cash used in operating activities of $6,281. Cash flows from investing activities included acquisition and capital expenditures for industrial gas and oil and gas properties. Financing activities included proceeds from an underwritten offering. The company reported a net change in cash and equivalents of $(6,308) for the period, with cash and equivalents totaling $1,415 at the end of the period. Updated clinical results from the PYNNACLE study show a 34% overall response rate among 103 patients with a median response duration of 7.6 months. In the ovarian cancer cohort, a 46% response rate was observed with a median response duration of 8.0 months. A New Drug Application for rezatapopt in ovarian cancer is planned for early 2027. The company has $129.3 million in cash and securities as of September 30, 2025, which is expected to last until the first quarter of 2027.
Read more at GlobeNewswire: U.S. Energy Corp. Reports Third Quarter 2025 Results