U.S. Energy Corp. (NASDAQ:USEG) Q4 2023 Earnings Conference Call March 27, 2024 9:00 AM ET
Company Participants
Mason McGuire - Director of Corporate Development
Ryan Smith - Chief Executive Officer
Mark Zajac - Chief Financial Officer
Conference Call Participants
Charles Meade - Johnson Rice
Tim Moore - EF Hutton
Operator
Greetings. Welcome to the U.S. Energy Corporation Fourth Quarter and Full Year 2023 Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded.
I will now turn the conference over to Mason McGuire, Director of Corporate Development. Thank you. You may begin.
Mason McGuire
Thank you, operator, good morning, everyone. Welcome to U.S. Energy Corp.'s fourth quarter and year end 2023 results conference call. Ryan Smith, our Chief Executive Officer, will provide an overview of our operating results and discuss the company's strategic outlook; and our Chief Financial Officer, Mark Zajac will give a more detailed review of our financial results.
After the market closed yesterday, U.S. Energy issued a press release summarizing operating and financial results for the year ended December 31, 2023. This press release, together with accompanying presentation materials are available in the Investor Relations section of our website at www.usnrg.com.
Today's discussion may contain forward-looking statements about future business and financial expectations. Actual results may differ significantly from those projected in today's forward-looking statements due to various risks and uncertainties, including the risks described in our periodic reports filed with the Securities and Exchange Commission. Except as required by law, we undertake no obligation to update our forward-looking statements.
Further, please note that non-GAAP financial measures may be disclosed during this call. A full reconciliation of GAAP to non-GAAP measurements are available in our latest quarterly earnings release and conference call presentation.
With that, I would turn the call over to Ryan Smith.
Ryan Smith
Thank you, Mason, and good morning, everyone, and thank you for joining us today. I'm pleased to share with you some of the strong highlights from this year and quarter as well as provide an update on our strategic outlook.
Our year-end results reflect the dedication and consistency of our entire team. We achieved annual net daily production of greater than 1,700 barrels of oil equivalent per day which takes into effect our fourth quarter asset divestitures, which I will discuss later, marking an increase from the comparable period of 2022.