XML 37 R27.htm IDEA: XBRL DOCUMENT v3.21.2

LEASES (Tables)

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

SCHEDULE OF CONSOLIDATED BALANCE SHEET

 SCHEDULE OF CONSOLIDATED BALANCE SHEET

			1				2
		June 30, 2021				December 31, 2020
		(in thousands)
Right of use asset balance
Operating lease		$	167			$	127
Lease liability balance
Short-term operating lease		$	107			$	65
Long-term operating lease			78				78
Total operating leases		$	185			$	143

SCHEDULE OF LEASE COSTS

 SCHEDULE OF LEASE COSTS

			2021				2020				2021				2020
		Three Months Ended June 30,								Six Months Ended June 30,
		2021				2020				2021				2020
		(in thousands)
Operating lease cost		$	27			$	17			$	51			$	34
Short-term lease cost			12				6				18				10
Sublease income			(16	)			(11	)			(32	)			(16	)
Total lease costs		$	23			$	12			$	37			$	28

SCHEDULE OF WEIGHTED AVERAGE LEASE

The Company’s Denver and Houston office operating leases do not contain implicit interest rates that can be readily determined; therefore, the Company used the incremental borrowing rates in effect at the time the Company entered into the leases.

 SCHEDULE OF WEIGHTED AVERAGE LEASE

		As of June 30,
		2021				2020
Weighted average lease term (years)			1.7				2.6
Weighted average discount rate			9.26	%			8.75	%

SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS

The future minimum lease commitments as of June 30, 2021, are presented in the table below in thousands. Such commitments are reflected at undiscounted values and are reconciled to the discounted present value on the consolidated balance sheet as follows:

 SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS

		Amount
Remainder of 2021		$	60
2022			122
2023			17
Total lease payments			199
Less: imputed interest			(14	)
Total lease liability		$	185

SCHEDULE OF OPERATING LEASES

 SCHEDULE OF OPERATING LEASES

			1				2
		June 30, 2021				December 31, 2020
		(in thousands)
Building subject to operating leases		$	4,654			$	4,654
Land			380				380
Less: accumulated depreciation			(3,658	)			(3,658	)
Loss on leased real estate held for sale			(651	)			(651	)
Building subject to operating leases, net		$	725			$	725

SCHEDULE OF FUTURE LEASE MATURITIES

The future lease maturities of the Company’s operating leases as of June 30, 2021 are presented in the table below. Such maturities are reflected at undiscounted values to be received on an annual basis.

 SCHEDULE OF FUTURE LEASE MATURITIES

			1
		Amount
		(in thousands)
Remainder of 2021		$	82
2022			165
2023			169
2024			163
Remaining through June 2029			695
Total lease maturities		$	1,274

SCHEDULE OF LOSS ON RENTAL PROPERTY

The Company recognized, as a component of rental and other loss in the unaudited condensed consolidated statements of operations, the following operating lease income and expense related to its Riverton, Wyoming office building for the three and six months ended June 30, 2021 and 2020:

 SCHEDULE OF LOSS ON RENTAL PROPERTY

		Three Months Ended June 30,								Six Months Ended June 30,
		2021				2020				2021				2020
		(in thousands)
Operating lease income		$	51			$	54			$	102			$	110
Operating lease expense			(45	)			(43	)			(79	)			(86	)
Depreciation			-				(29	)			-				(59	)
Rental property gain (loss), net		$	6			$	(18	)		$	23			$	(35	)

X

- Definition

Schedule of Weighted Average Lease [Table Text Block]

+ References

No definition available.

+ Details

Name:	USEG_ScheduleOfWeightedAverageLeaseTableTextBlock
Namespace Prefix:	USEG_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

+ Details

Name:	srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix:	srt_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980

+ Details

Name:	us-gaap_LeaseCostTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_LeasesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of components of income from operating lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 30
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=124258985&loc=SL77919372-209981

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 50
-Paragraph 6A
-URI http://asc.fasb.org/extlink&oid=124502072&loc=SL77927221-108306

+ Details

Name:	us-gaap_OperatingLeaseLeaseIncomeTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123406913&loc=d3e41499-112717

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124440162&loc=d3e12069-110248

Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=123406913&loc=d3e41502-112717

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=123389372&loc=d3e36991-112694

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 10
-Section 55
-Paragraph 40
-Subparagraph (Note 3)
-URI http://asc.fasb.org/extlink&oid=123403562&loc=d3e38371-112697

+ Details

Name:	us-gaap_OperatingLeasesOfLesseeDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=123406913&loc=d3e41502-112717

+ Details

Name:	us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601

+ Details

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration