US Energy Corporation Expands into Montana's Helium-rich Kevin Dome

 US Energy Corporation has expanded its operations into Montana, acquiring acreage within the Kevin Dome structure in Toole County. This strategic move aims to capitalize on helium production opportunities, with the company finalizing the acquisition through an agreement with Wavetech Helium. The newly acquired land holds promising helium reserves across Colorado, Kansas, and Montana, featuring inert nitrogen and carbon dioxide-heavy zones. US Energy plans to commence drilling activities on the Wavetech asset by late July or early August 2024.

Ryan Smith, CEO of US Energy Corporation, expressed optimism about the acquisition, highlighting the transformative economic potential and competitive helium resources in the Kevin Dome structure. The company has also secured a non-binding letter of intent with Synergy Offshore for additional operated acreage nearby, consolidating a contiguous land position of approximately 164,000 net acres across the region.

The move comes amid global helium supply chain challenges, including disruptions in shipping and recent trade restrictions affecting Russian imports into the EU. US Energy Corporation is poised to begin drilling and completing two wells at the Wavetech Asset, targeting multiple pay zones within the Duperow, Souris River, and Flathead Sands formations. Each well is budgeted at $1.4 million, aimed at enhancing reserve assessments and facilitating third-party certifications.

Based in Houston, TX, US Energy Corporation is committed to sustainable energy practices and aims to deliver attractive capital returns to its shareholders.

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