The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Jesse Sobelson - EF Hutton - Analyst
: Hi, everyone. Thanks for taking my question today. I was just curious, I've heard the commentary on LOE per BOE moderating looking forward here
as operations are more normalized. I'm curious, though, when it comes to the acquisition of these additional assets in Montana, and I noticed in
the press release, the commentary on the wells being spud in the third quarter here, how should we look at G&A going forward? Thank you.
Question: Jesse Sobelson - EF Hutton - Analyst
: Great. Thanks for the details on the financial operations on both those line items. And then I'll ask this last question, then I'll leave it to the rest of
the call. But in terms of looking at legacy asset sales, are we still expecting to potentially line up some future sales of some of these assets to fund
maybe this build-out? Or are we comfortable with our liquidity position today? And looking elsewhere more so focusing on the operations of the
business? Thank you.
Question: Jesse Sobelson - EF Hutton - Analyst
: Okay. Great. Thank you very much.
Question: Charles Meade - Johnson Rice - Analyst
: Yes. Good morning, Ryan. I want to say I appreciate the midyear oil and gas PDP update thereof I think it was just under $51 million. It really highlights
your value. But I want to go back to I think you discussed this on the last -- on your last or really, the last call discussing the acquisition.
What is the timing to get a similar PDP or third-party resource estimate on your helium assets? I know, or at least I believe, you said you're going
to have one after you drill these two wells but are you going to have one before on the existing wells?
Question: Charles Meade - Johnson Rice - Analyst
: Got it. So if I'm understanding you correctly, Ryan, we're going to get two reports or two numbers: one, on the total resource; and then the second
on here is what's proved developed with these wellbores, is that the right understanding?
Question: Charles Meade - Johnson Rice - Analyst
: Got it. Got it. Okay. And then secondly, you've covered this, I think, a bit on your last call. You said that you'd be able to fund any development
internally, whether it's asset sales or cash flow. But can you give us a sense -- you've given us an estimate for what these -- each of these first two
wells costs, I think your number is $1.4 million. But what is the follow-on CapEx in the success case? And over what time frame does it play out?
Question: Charles Meade - Johnson Rice - Analyst
: Got it. Thanks for all that elaboration of your thinking, Ryan. It's helpful.
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AUGUST 08, 2024 / 3:30PM, USEG.OQ - Q2 2024 US Energy Corp Earnings Call
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