09:40 AM EST, 12/13/2024 (MT Newswires) -- U.S. Energy ( USEG ) said Friday it has executed documents to sell certain assets in Anderson, Chambers, Henderson, and Liberty counties in Texas to an unnamed private buyer for roughly $6.8 million in cash.

The company intends to complete the transaction around Dec. 31, it added.

U.S. Energy ( USEG ) said it expects to use the proceeds to finance the continued development of its industrial gas project in Montana.

Shares of the company rose nearly 5% in recent Friday trading.

Price: 1.65, Change: +0.08, Percent Change: +4.78