U.S. Energy Corp.
Big Sky Industrial Inc. (Nasdaq: BSIN) is a Houston-based industrial gas and carbon management company developing the Big Sky Carbon Hub in Montana to produce helium, sequester CO2 under Section 45Q tax credits, and operate CO2-enhanced oil recovery at its Cut Bank field.
- Company typePublic
- Founded1980
- HeadquartersHouston, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What U.S. Energy Corp. does
Big Sky Industrial Inc. (Nasdaq: BSIN, formerly U.S. Energy Corp.) is a Houston-based, Delaware-incorporated public company developing an integrated industrial gas and carbon management platform anchored by the Big Sky Carbon Hub in Northwest Montana. The company is constructing an 8.0 MMcf/d processing facility above the Kevin Dome geologic structure — one of the few material undeveloped helium resources in the United States — to separate a single naturally occurring gas stream (approximately 0.5% helium, 87.5% CO2) into three independent revenue lines: high-purity helium production and sales, CO2 sequestration under the federal Section 45Q tax credit framework, and CO2-enhanced oil recovery at its wholly owned Cut Bank oil field.
The company's core technology is industrial gas processing infrastructure sized for Phase 1 annual production of approximately 12 million cubic feet of helium and 125,000 metric tons of refined CO2. It has established regulatory first-mover status by submitting the first Monitoring, Reporting, and Verification (MRV) plans in Montana history to the EPA for Class II injection wells. Phase 1 commercial operations — first helium sales and carbon management revenue — are targeted for Q1 2027, with commissioning in Q3 2026.
The business model rests on long-duration contracted cash flow. A five-year, 100% take-or-pay helium offtake agreement with an investment-grade global industrial gas counterparty covers up to 1.2 MMcf/month at fixed $285/MCF pricing with CPI-linked annual escalation, addressing strategic end markets including MRI/medical imaging, semiconductor manufacturing, fiber optics, data-center cooling, and aerospace/defense. Section 45Q federal tax credits at approximately $85/metric ton are expected to deliver roughly $130 million in Phase 1 credit value. The Phase 1 capital stack is complete: a $20 million senior secured debt facility (closed April 2026) plus an $8.8 million public equity offering (March 2026). FY2025 revenue was $7.4 million, down from $20.6 million in FY2024 due to the deliberate divestiture of legacy oil and gas assets in Texas and Kansas.
U.S. Energy Corp. firmographics
Firmographics- Name
- U.S. Energy Corp.
- Legal name
- Big Sky Industrial Inc.
- Website
- https://usnrg.com
- Company type
- Public
- Founded year
- 1980
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Big Sky Industrial Inc. (Nasdaq: BSIN) is a Houston-based industrial gas and carbon management company developing the Big Sky Carbon Hub in Montana to produce helium, sequester CO2 under Section 45Q tax credits, and operate CO2-enhanced oil recovery at its Cut Bank field.
- Ownership category
- akta.pro rank
U.S. Energy Corp. industry classification
Industry- Product category
- Industrial Gas and Carbon Management
- NAICS
- Industrial Gas Manufacturing (32512)
- akta.pro primary industry
- Industrial Carbon Capture Integration & Retrofit Engineering (Capture-Ready, Balance-of-Plant) (EUABAJAJ)
Keywords
Where U.S. Energy Corp. is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
U.S. Energy Corp. business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D
Revenue model
- Helium Sales: Sale of processed high-purity helium under a five-year, 100% take-or-pay contract covering up to 1.2 million cubic feet per month at fixed pricing of $285 per MCF with CPI-linked annual escalation. The contract provides fully contracted revenue with material reduction of volume and demand risk, with Phase 1 commercial operations targeted for Q1 2027.
- Carbon Management (Section 45Q Tax Credits): Revenue generated through approximately $130 million in Phase 1 Section 45Q federal tax credits for CO2 sequestration, based on approximately $85/metric ton credit value for 125,000 metric tons annually. The company submitted the first MRV plans in Montana history to the EPA for Class II injection wells.
- CO2-Enhanced Oil Recovery (EOR): Utilization of a portion of CO2 production in enhanced oil recovery operations at the wholly owned Cut Bank field in Montana, creating additional revenue from oil production while maximizing asset utilization from the single gas stream.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Helium offtake agreement at $285/MCF with annual CPI escalation |
| Other | Annual | Section 45Q federal tax credits at approximately $85/metric ton |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
U.S. Energy Corp. product offering
Product offeringCore offering
Big Sky Industrial Inc. (formerly U.S. Energy Corp.) is a Houston-based industrial gas and carbon management company developing the Big Sky Carbon Hub in Northwest Montana. The company processes a naturally occurring gas stream (~0.5% helium and ~87.5% CO2) from the Kevin Dome geologic structure to produce high-purity helium, sequester CO2 under the Section 45Q federal tax credit framework, and support CO2-enhanced oil recovery at the wholly owned Cut Bank field. Phase 1 commercial operations are targeted for Q1 2027.
Product overview
U.S. Energy Corp. has transformed into an integrated industrial gas and carbon management platform anchored by the Big Sky Carbon Hub project in Montana. Rather than a single unified product, the company operates three distinct product lines derived from a single gas stream: Helium Production and Sales (high-purity helium under long-term take-or-pay contracts), Carbon Management under Section 45Q (CO2 sequestration with federal tax credits), and CO2-Enhanced Oil Recovery (CO2 utilization at the Cut Bank oil field). These three revenue streams are unified through shared infrastructure at the Big Sky Carbon Hub above the Kevin Dome geologic structure, creating an integrated industrial platform with diversified cash flow exposure.
Differentiator
Problem solved
Functional benefit
Products and services
- Helium Production and Sales Extraction and sale of high-purity helium from the Big Sky Carbon Hub under a five-year, 100% take-or-pay contract with fixed pricing of $285/Mcf and CPI-linked escalation. Phase 1 targets production of approximately 12 million cubic feet annually. Sold to an investment-grade global industrial gas company for use in MRI, semiconductor, fiber optic, aerospace, and data-center applications.
- Carbon Management (Section 45Q) CO2 sequestration through dedicated injection wells under the federal Section 45Q framework, with first-ever MRV plans submitted in Montana for Class II injection wells. Phase 1 targets 125,000 metric tons of refined CO2 annually, qualifying for approximately $85/metric ton in federal tax credits representing an estimated $130 million in Phase 1 value.
- CO2-Enhanced Oil Recovery (CO2-EOR) Utilizes a portion of captured CO2 from the Big Sky Carbon Hub for enhanced oil recovery operations at the company's wholly owned Cut Bank oil field in Montana, maximizing resource utilization by creating a third independent revenue stream from the same gas resource base.
Quantifiable outcome
- Phase 1 Section 45Q tax credits of approximately $130 million
- +3 more outcomes
Companies that use U.S. Energy Corp.
Customer profileNamed customers1 record
Segments5 records
Ideal customer profiles2 records
U.S. Energy Corp. technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
U.S. Energy Corp. partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Investment-grade global industrial gas companycoreFive-year, 100% take-or-pay helium offtake agreement covering up to 1.2 million cubic feet per month at fixed pricing of $285 per MCF with CPI-linked annual escalation. The contract provides fully contracted revenue with material reduction of volume and demand risk, completing the Phase 1 capital stack alongside the expanded senior secured credit facility.
- CANUSA EPCcoreFixed-scope Engineering, Procurement, and Construction (EPC) agreement with CANUSA EPC for construction of the Big Sky Carbon Hub processing facility in Montana. The facility is designed for approximately 8.0 MMcf/d inlet capacity targeting annual production of roughly 12 million cubic feet of helium and 125,000 metric tons of refined CO2.
Scale indicators8 records
Recent moves9 records
Expansion highlights5 records
U.S. Energy Corp. competitors and assessment
Company assessmentBroad incumbents
- ExxonMobil: Energy major with growing CCS franchise and the recently acquired Denbury CO2-EOR pipeline and sequestration assets. Comparable to Big Sky Industrial's CO2-EOR and carbon sequestration infrastructure.
- Occidental Petroleum: US energy major operating large-scale CCS through its 1PointFive subsidiary and significant CO2-EOR at Permian basin assets. Comparable to the carbon management and CO2-EOR components of Big Sky Industrial's integrated model.
Direct peers
- Linde plc: World's largest industrial gas company with a global helium sourcing and distribution franchise. Comparable business model, customer base, and supply chain position to Big Sky Industrial's helium operations.
- Messer Group: Privately-held global industrial gas company with significant helium and specialty gas operations. Comparable as a privately-held industrial gas competitor with similar end-market exposure.
- Air Liquide: Global industrial gas leader with substantial helium and rare gas operations serving electronics, healthcare, and aerospace customers. Closely comparable to Big Sky Industrial's target end markets and contract structures.
- Denbury Resources: Former standalone CO2-EOR and CCS pure-play (now part of ExxonMobil) with similar CO2-EOR, Class II injection well, and Section 45Q economics. Closely analogous business model to Big Sky Industrial's integrated CCS and EOR approach.
- Air Products and Chemicals: Global industrial gas major with significant helium production and long-term offtake contracts to semiconductor, healthcare, and aerospace end markets. Most directly comparable peer given Big Sky Industrial's helium-focused industrial gas model and take-or-pay contracting approach.
Emerging players
- Avanti Helium: Emerging North American helium exploration and development company focused on smaller-scale helium resources with similar end-market positioning. Comparable as a smaller, pre-revenue helium developer with take-or-pay offtake strategies.
Regional players
- Royal Helium: Canadian-focused helium exploration and production company developing primary helium resources. Comparable as a small-cap North American helium developer with similar end-market exposure to industrial gas and semiconductor customers.
- Iwatani Corporation: Japan-headquartered industrial gas company with one of the largest helium distribution franchises globally, including sourcing from US production. Comparable helium end-market exposure, though primarily Asia-focused in distribution.
Market position
Strengths2 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
U.S. Energy Corp. social profiles
Digital presenceU.S. Energy Corp. financial estimates
Financial estimateRevenue estimate
Valuation estimate
U.S. Energy Corp. leadership team
Management profileNumber of profiles
Profiles2 records
U.S. Energy Corp. subsidiaries and ownership
Company hierarchySubsidiaries1 record
U.S. Energy Corp. funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
U.S. Energy Corp. M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about U.S. Energy Corp.
What does U.S. Energy Corp. do?
Big Sky Industrial Inc. (formerly U.S. Energy Corp.) is a Houston-based industrial gas and carbon management company developing the Big Sky Carbon Hub in Northwest Montana. The company processes a naturally occurring gas stream (~0.5% helium and ~87.5% CO2) from the Kevin Dome geologic structure to produce high-purity helium, sequester CO2 under the Section 45Q federal tax credit framework, and support CO2-enhanced oil recovery at the wholly owned Cut Bank field. Phase 1 commercial operations are targeted for Q1 2027.
Is U.S. Energy Corp. a public or private company?
U.S. Energy Corp. is a public company. It is classified as public and is currently operating.
When was U.S. Energy Corp. founded?
U.S. Energy Corp. was founded in 1980. It employs 11 to 50 people.
Where is U.S. Energy Corp. based?
U.S. Energy Corp. is headquartered in Houston, United States, in the North America region.
How does U.S. Energy Corp. make money?
Three revenue lines are on record. Helium Sales are the primary driver. The others are carbon Management (Section 45Q Tax Credits) and CO2-Enhanced Oil Recovery (EOR).
Who are U.S. Energy Corp.'s main competitors?
Broad incumbents on record are ExxonMobil and Occidental Petroleum. Direct peers are Linde plc, Messer Group, Air Liquide, Denbury Resources and Air Products and Chemicals. Avanti Helium is listed as an emerging player. Regional players are Royal Helium and Iwatani Corporation.
Does U.S. Energy Corp. have an API?
No public API is recorded for U.S. Energy Corp..
What industry is U.S. Energy Corp. in?
U.S. Energy Corp.'s product category is Industrial Gas and Carbon Management. Its primary akta.pro industry code is EUABAJAJ, Industrial Carbon Capture Integration & Retrofit Engineering (Capture-Ready, Balance-of-Plant). Its NAICS code is 32512.