On December 20, 2011 U.S. Energy Corp. (NASDAQ: USEG) announced a 2012 capital expenditure budget of $48.1 million and the sale of undeveloped Bakken acreage. The company will spend approximately $24.9 million (52%) of this budget drilling its Leona River and Booth-Tortuga prospects in the Eagle Ford shale of South Texas. Crimson Exploration (NASDAQ: CXPO) is the operator of both Eagle Ford prospects. The balance of USEG’s budget will be spent on its Rough Rider and Yellowstone / SE HR prospects in the Bakken shale ($18.4 million, or 38% millio...


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