U.S. Energy Corporation (USEG, Financial) has completed a pivotal acquisition, purchasing assets from a privately owned company for $0.2 million. This acquisition is set to enhance the company's industrial gas and carbon capture capabilities within Montana's Kevin Dome area.
The acquisition encompasses around 2,300 net acres with vital carbon dioxide rights, significantly consolidating U.S. Energy’s existing presence in the region. A notable aspect of the acquisition is the inclusion of an operational Class II injection well, which will facilitate carbon dioxide sequestration from U.S. Energy’s forthcoming industrial gas processing operations.
This development is a crucial step in advancing U.S. Energy's carbon capture, utilization, and storage (CCUS) initiatives, further integrating these capabilities into its industrial gas framework. The addition of the injection infrastructure and strategic land aligns with the company's mission to provide cleaner energy solutions with reduced carbon emissions.
With this acquisition, U.S. Energy aims to responsibly accelerate its delivery of clean helium, meeting the growing global demand for energy solutions with lower carbon footprints.
