U.S. Energy Corp. has engaged Houston Texas-based SMH Capital Inc. to act as a financial advisor in connection with the potential purchase or acquisition of oil and gas assets.
"With overall continued market uncertainty and commodity prices remaining depressed we believe now is the ideal time to enhance our acquisition strategy by working closely with SMH to seek out high quality oil and gas assets," stated Mark Larsen, President of U.S. Energy Corp.
"It is our goal to reach a production rate of 7000 MCFE/D by year end although we are not limiting our corporate objectives in this endeavor. By leveraging SMH's contacts and expertise, we intend to use our solid balance sheet to selectively and efficiently access what we believe is a growing pool of attractively valued exploration and production stage oil and gas assets," he added.
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