The gravitational potential energy of a satellite at height \(h\) is given by:
\[
U = - \frac{GMm}{R + h}.
\]
Here \( R \) is the radius of the earth, and \( h = R \). Substituting \(h = R\) into the formula:
\[
U = - \frac{GMm}{2R}.
\]
Since \(GM = g R^2\), the potential energy becomes:
\[
U = -0.5mgR_e.
\]