DALLAS, Oct. 19, 2009 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring U.S. Energy Corp. (Nasdaq:USEG). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The investment report on U.S. Energy Corp. (Nasdaq:USEG) should be of particular interest to other metals and mining companies: POSCO (NYSE:PKX), Arcelor Mittal (NYSE:MT), Denison Mines Corp. (AMEX:DNN) and Nucor Technologies (NYSE:NUE).
It is available at: http://www.investorsoup.com/lp/USEG
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U.S. Energy Corp. (USEG) acquires and develops energy-related and other mineral properties. The Company is primarily involved in the acquisition of mineral properties, the exploration and development of those properties, and from time to time, the sale and lease of mineral-bearing properties and production and/or marketing of minerals.
In the report, the analyst notes:
"USEG today announced the initial production rate from its Brad Olson 9-16 #1H Bakken well and provided an overall operations update regarding its various interests in the oil and gas sector. The Brad Olson 9-16 #1H flowed at an initial 24-hour production test rate of approximately 1,805 barrels of oil and 1.84 MMCF of natural gas per day or 2,112 BOE/D. The well was completed with swell packers and 28 fracture stimulation stages. USEG's initial working interest in this well is approximately 61% (~48% net revenue interest), and sales from this well are expected to commence immediately. The Company believes this well is the first successful 28 stage fracture stimulation completion in the Williston Basin.
"USEG last month announced that it has entered into a Drilling Participation Agreement (DPA) with Brigham Exploration Company to earn working interests in Brigham's Rough Rider project area located in Williams and McKenzie Counties of North Dakota. The terms of the DPA call for the drilling of up to 15 initial Bakken wells in 15 separate 1,280 acre spacing units. The ultimate number of wells to be drilled in the units could reach 90."
To read the entire report visit: http://www.investorsoup.com/lp/USEG
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