U.S. Energy Corp. (NASDAQ:USEG) Q2 2024 Earnings Conference Call August 8, 2024 11:30 AM ET
Company Participants
Mason McGuire - Director of Corporate Development
Ryan Smith - President, Chief Executive Officer & Director
Mark Zajac - Chief Financial Officer
Conference Call Participants
Jesse Sobelson - EF Hutton
Charles Meade - Johnson Rice
Operator
Greetings. Welcome to the U.S. Energy Corporation's Second Quarter 2024 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.
At this time, I'll hand the conference over to Mason McGuire. Mason, you may now begin.
Mason McGuire
Thank you, operator and good morning, everyone. Welcome to U.S. Energy Corp.'s second quarter 2024 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 to 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 quarter ended June 30, 2024. This press release together with the 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 included in the risks described in our periodic reports as filed with the Securities and Exchange Commission.
Such as required by law we undertake no obligation to update our forward-looking statements. Further, please note that the 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'd like to turn the call over to Ryan Smith.
Ryan Smith
Good morning, everyone and thank you for joining us today. I'm pleased to share with you our results from this quarter as well as provide an update on our strategic outlook. Our quarter end results reflect the hard work and resiliency of our operational team as well as the results of the company's business development efforts.
To begin, we closed our initial transaction targeting helium and other industrial gases in late June as well as entered into a letter of intent for a complementary and contiguous acreage position to the transaction that has already closed.