U.S. Energy Corp. (NasdaqCM:USEG) entered into an asset purchase agreement to acquire Select Upstream Assets of FieldPoint Petroleum Corporation (OTCPK:FPPP) for $0.5 million on September 25, 2020. The transaction was subject to the approval of the bankruptcy court. Rachel Reese of R. Reese and Associates, PLLC acted as the legal advisor to U.S. Energy.

U.S. Energy Corp. (NasdaqCM:USEG) completed the acquisition of Select Upstream Assets of FieldPoint Petroleum Corporation (OTCPK:FPPP) on September 29, 2020. The consideration is subject to adjustment and includes a deposit of $0.03 million. The agreement may be terminated by the mutual written consent of U.S. Energy and FieldPoint. Either party can terminate the agreement in case of a breach conducted by the other.