The name change reflects what the business has become. Over the past several years the Company has repositioned from a legacy oil and gas producer into an integrated industrial gas and carbon management platform, built around domestic helium, carbon management, and the Big Sky Carbon Hub in Montana. “Big Sky Industrial” describes that business directly. The change is a rebrand only; it does not affect the Company’s legal corporate existence, its CIK, or its CUSIP.
Yes. Effective June 8, 2026, the Company’s common stock trades on the Nasdaq Capital Market under the symbol BSIN, changed from USEG. The Company’s CIK and CUSIP are unchanged.
No. The rebrand does not change the number of shares outstanding, your ownership, or the par value of the stock. No action is required by shareholders. Shares previously held under USEG continue under the new name and symbol.
(Confirm with transfer agent that no exchange of certificates or shareholder action is required — standard for a name/ticker change, but verify.)
Big Sky Industrial is headquartered in Houston, Texas, and incorporated in Delaware. Its principal industrial gas and oil operations are in Montana, including the Big Sky Carbon Hub and the Cut Bank field.
The Company’s common stock trades on the Nasdaq Capital Market under the symbol BSIN. Its fiscal year ends December 31.
The Company operates one connected platform with three activities:
- Helium: developing a domestic helium resource for sale into a structurally supply-constrained global market. †
- Carbon management: capturing, transporting, and permanently sequestering CO₂, supported by the federal Section 45Q tax-credit program. †
- Oil recovery: producing from the wholly owned Cut Bank field, with potential to extend that field’s life using CO₂ supplied from the Company’s own operations. †
Today, the Company’s revenue comes from oil and natural gas production. The helium and carbon management businesses are in development, with first sales and operations anticipated in 2027. †
Helium is a non-substitutable input for semiconductor manufacturing, MRI machines, fiber optics, aerospace, and data-center cooling. Global supply is concentrated among a few producing regions and has tightened amid geopolitical disruption, while demand is largely inelastic. Big Sky Industrial is developing one of the few material undeveloped helium resources in the United States, a domestic source in a market that depends heavily on imports.
The Big Sky Carbon Hub is the Company’s integrated industrial gas development in Montana, situated on the Kevin Dome geologic structure, one of the largest gas-bearing structures in the western U.S. The same wells and infrastructure produce helium and CO₂ together, so the Company shares costs across revenue streams rather than building separate facilities for each. The Company reached a final investment decision on the Hub’s processing facility in Q1 2026 and is currently in construction. †
Carbon management means capturing CO₂ and either permanently storing it underground or putting it to productive use. Section 45Q is a federal tax-credit program that pays a per-ton credit (currently $85 per metric ton) for qualifying CO₂ that is captured and sequestered. Because the Company’s CO₂ is a byproduct of helium extraction, with no combustion or energy-intensive capture step, its carbon management stream is policy-supported and largely independent of commodity prices. † The Company has submitted two Monitoring, Reporting, and Verification (MRV) applications to the EPA, with approvals anticipated in summer 2026. †
No, though oil remains part of the platform. The Company produces oil from its wholly owned Cut Bank field, which provides established, low-decline cash flow that helps fund the build-out of the helium and carbon businesses. Going forward, the oil business is integrated into the carbon strategy: CO₂ produced at the Big Sky Carbon Hub can be used to recover additional oil from Cut Bank (a process known as CO₂-enhanced oil recovery), using the Company’s own CO₂ rather than buying it from third parties. † The strategic priority is the industrial gas and carbon platform.
The Company has signed a five-year, 100% take-or-pay helium offtake agreement with an investment-grade global industrial gas company for production from the Big Sky Carbon Hub.† Under the agreement, the buyer commits to purchase the contracted volume whether or not it takes delivery, at a fixed plant-gate price with CPI-based escalation beginning in 2028 and a price redetermination in year three. † The agreement is structured so the buyer collects the gas at the plant, removing transportation risk from the Company.
(Buyer is confidential and is not named in any public document. Keep it unnamed.)
First helium sales and the start of carbon management operations are anticipated in 2027, following commissioning of the Big Sky Carbon Hub processing facility. † These are forward-looking expectations and subject to construction, regulatory, and commercial risks described in the Company’s SEC filings.
The Company has stated that its Phase 1 capital stack is complete. During the first quarter of 2026, it closed an underwritten equity offering, expanded its senior secured credit facility, and suspended further use of its equity line of credit. The Company expects to fund Phase 1 through the start of commercial operations without further equity dilution. Any capital required for Phase 2 would be addressed separately. Please refer to the Company’s most recent Form 10-Q for details on its capital structure. †
No. Big Sky Industrial does not currently pay a dividend and has not paid one since 2023. The Company is focused on funding the development of its helium and carbon management platform.
The Company’s independent registered public accounting firm is Weaver and Tidwell, L.L.P. (Houston, Texas).
The Company’s transfer agent and registrar is Computershare. Shareholders with questions about share ownership, stock certificates, address changes, or account information should contact Computershare directly:
Computershare
Shareholder Services: (800) 962-4284
Regular mail: P.O. Box 43007, Providence, RI 02940-3007
Overnight, certified, or registered delivery: 150 Royall Street, Suite 101, Canton, MA 02021
Online inquiries: https://www-us.computershare.com/Investor/#Contact
Shareholder website: https://ic4.computershare.com/?cc=US&lang=en
The Company is currently covered by:
- Johnson Rice & Company — Charles Meade
- Zacks Small Cap Research — Tom Kerr
Any opinions, estimates, or forecasts regarding the Company’s performance made by these analysts are their own and do not represent the views of Big Sky Industrial or its management.
All filings are available through the SEC’s EDGAR system and on the SEC Filings page of this site. The Company’s CIK is unchanged from its prior name.