US ENERGY CORP (USEG) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: March 10, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 32.94% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
33M
Potential Supply
0
Additional shares possible
Splits
None
Past 2 years

Summary

USEG currently has 32.7M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 32.94% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Mar 10, 2026

8-K filing: U.S. Energy Corp. closed an underwritten offering of 8,800,000 shares of common stock at a price of $1.00 per share, resulting in net proceeds of approximately $8.2 million for the company. ($8.8M proceeds)

33M 0
Oct 09, 2025

8-K filing: U.S. Energy Corp. entered into a Common Stock Purchase Agreement with Roth Principal Investments, allowing the company to sell up to $25,000,000 of newly issued shares of common stock to Roth Principal Investments, subject to certain conditions and limitations.

33M 0
Sep 12, 2025

S-3 filing: U.S. Energy Corp. is offering common stock, preferred stock, debt securities, warrants, or a combination of these securities for an aggregate initial offering price of up to $50 million.

33M 0
Aug 12, 2025

10-Q filing | 32.7M shares outstanding

33M 0
May 12, 2025

10-Q filing | 32.7M shares outstanding

33M 0
Mar 13, 2025

10-K filing | 26.7M shares outstanding

27M 0
Jan 23, 2025

8-K filing: U.S. Energy Corp. closed an underwritten offering of 4,871,400 shares of common stock at $2.65 per share, with net proceeds of approximately $12.1 million, to be used for development, general corporate purposes, and working capital.

28M 0
Jan 10, 2025

8-K filing: U.S. Energy Corp. purchased property from Synergy Offshore LLC for $2.0 million in cash and 1,400,000 shares of restricted common stock, representing 4.76% of the Company's outstanding restricted common stock.

28M 0
Nov 12, 2024

10-Q filing | 28.1M shares outstanding

28M 0
Aug 07, 2024

10-Q filing | 25.5M shares outstanding

25M 0
Jul 01, 2024

8-K filing: The company entered into a non-binding letter of intent with Synergy Offshore LLC to acquire 87.5% of their working interests in the Synergy Asset for $2.0 million in cash, 4,845,900 shares of restricted common stock, 6,250,000 warrants, a $12.5 million carried working interest, 18.0% of future tax credits, and an Area of Mutual Interest.

25M 0
May 09, 2024

10-Q filing | 25.4M shares outstanding

25M 0
Mar 26, 2024

10-K filing | 25.3M shares outstanding

25M 0
Nov 13, 2023

10-Q filing | 25.4M shares outstanding

25M 0
Aug 14, 2023

10-Q filing | 25.2M shares outstanding

25M 0
May 11, 2023

10-Q filing | 25.2M shares outstanding

25M 0
Apr 13, 2023

10-K filing | 24.7M shares outstanding

25M 0
Nov 10, 2022

10-Q filing | 24.7M shares outstanding

25M 0
Sep 16, 2022

8-K filing: U.S. Energy Corp. entered into an Amended and Restated Nominating and Voting Agreement with Lubbock Energy Partners LLC, Banner Oil & Gas, LLC, Woodford Petroleum, LLC, Llano Energy LLC, Synergy Offshore LLC, King Oil & Gas Company, Inc., WDM Family Partnership, LP, and Katla Energy Holdings LLC, following the distribution of shares of common stock.

25M 0
Sep 02, 2022

S-3 filing: U.S. Energy Corp. files an S-3 registration statement for the potential offering of common stock, preferred stock, and/or debt securities, warrants for an aggregate initial offering price of up to $50 million.

25M 0
Aug 11, 2022

10-Q filing | 24.9M shares outstanding

25M 0
Jun 10, 2022

S-3 filing: This S-3 filing registers 19,905,736 shares of common stock for resale by selling shareholders.

26M 0
May 12, 2022

10-Q filing | 23.7M shares outstanding

24M 0
Mar 28, 2022

10-K filing | 24.9M shares outstanding

25M 0
Jan 10, 2022

8-K filing: U.S. Energy Corp. closed acquisitions of oil and gas properties, issuing 19,905,736 shares of common stock to Lubbock Energy Partners LLC, Banner Oil & Gas, LLC, Woodford Petroleum, LLC, Llano Energy LLC, and Synergy Offshore LLC as part of the purchase price. Additionally, the company increased the size of its Board of Directors from five to seven members.

4.7M 0
Nov 12, 2021

10-Q filing | 4.7M shares outstanding

4.7M 0
Oct 06, 2021

8-K filing: U.S. Energy Corp. entered into Purchase and Sale Agreements to acquire oil and gas properties, issuing 19,905,736 shares of common stock as part of the consideration.

4.7M 0
Aug 12, 2021

10-Q filing | 4.7M shares outstanding

4.7M 0
May 13, 2021

10-Q filing | 4.7M shares outstanding

4.7M 0
Mar 26, 2021

10-K filing | 4.7M shares outstanding

4.7M 0
Mar 09, 2021

8-K filing: U.S. Energy Corp. issued 97,962 shares of restricted common stock to APEG Energy II, L.P. pursuant to a Debt Conversion Agreement and 90,846 shares of restricted common stock to APEG Energy II, L.P. pursuant to a Subscription Agreement. ($0.38M proceeds)

1.8M 450K
Feb 16, 2021

8-K filing: U.S. Energy Corp. entered into an underwriting agreement with Kingswood Capital Markets to sell 1,131,500 shares of common stock at $5.10 per share in a firm commitment underwritten public offering, expected to close on February 17, 2021. ($5.76M proceeds)

1.8M 450K
Jan 07, 2021

8-K filing: U.S. Energy Corp. entered into an Exchange Agreement with Mt. Emmons Mining Company, exchanging 50,000 shares of Series A Convertible Preferred Stock for $2 million in cash and 328,000 shares of the Company's common stock.

1.8M 450K
Nov 16, 2020

10-Q filing | 2.9M shares outstanding

2.9M 0
Nov 16, 2020

8-K filing: U.S. Energy Corp. completed a public offering of 1,000,000 shares of common stock at $3.00 per share, with an additional 150,000 shares sold through the exercise of an over-allotment option, resulting in net proceeds of approximately $3.0 million. ($3.45M proceeds)

1.8M 450K
Nov 10, 2020

S-1/A filing: U.S. Energy Corp. is offering 728,155 shares of common stock at an assumed public offering price of $4.12 per share in a firm commitment underwritten public offering.

1.8M 450K
Oct 30, 2020

S-1 filing: U.S. Energy Corp. is offering shares of common stock in a firm commitment underwritten public offering.

1.4M 0
Oct 02, 2020

8-K filing: U.S. Energy Corp. closed a registered direct offering on October 2, 2020, selling 315,810 shares of common stock at $5.25 per share, resulting in gross proceeds of $1,658,002.50. ($1.66M proceeds)

1.4M 0
Sep 18, 2020

S-3 filing: U.S. Energy Corp. is filing an S-3 to register an indeterminate number of shares of common stock, preferred stock, debt securities and warrants to purchase common stock, preferred stock and debt securities as shall have an aggregate initial offering price not to exceed $50,000,000.

1.4M 0
Aug 14, 2020

10-Q filing | 1.4M shares outstanding

1.4M 0
May 14, 2020

10-Q filing | 1.4M shares outstanding

1.4M 0
Mar 30, 2020

10-K filing | 1.3M shares outstanding

1.3M 0
Mar 05, 2020

8-K filing: U.S. Energy Corp. completed a transaction to acquire all of the issued and outstanding equity interests of New Horizon Resources, LLC, paying consideration of 59,498 shares of common stock and $150,000 in cash.

N/A 0
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