<SEC-DOCUMENT>0001127602-14-027911.txt : 20140916
<SEC-HEADER>0001127602-14-027911.hdr.sgml : 20140916
<ACCEPTANCE-DATETIME>20140916165756
ACCESSION NUMBER:		0001127602-14-027911
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20140916
FILED AS OF DATE:		20140916
DATE AS OF CHANGE:		20140916

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			US ENERGY CORP
		CENTRAL INDEX KEY:			0000101594
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				830205516
		STATE OF INCORPORATION:			WY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		877 NORTH 8TH WEST
		STREET 2:		GLEN L LARSEN BLDG
		CITY:			RIVERTON
		STATE:			WY
		ZIP:			82501
		BUSINESS PHONE:		3078569271

	MAIL ADDRESS:	
		STREET 1:		877 NORTH 8TH WEST
		CITY:			RIVERTON
		STATE:			WY
		ZIP:			82501

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WESTERN STATES MINING INC
		DATE OF NAME CHANGE:	19851229

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FRASER JAMES B
		CENTRAL INDEX KEY:			0001611980

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		141105963

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 941
		CITY:			POLSON
		STATE:			MT
		ZIP:			59860
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2014-09-16</periodOfReport>

    <issuer>
        <issuerCik>0000101594</issuerCik>
        <issuerName>US ENERGY CORP</issuerName>
        <issuerTradingSymbol>USEG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001611980</rptOwnerCik>
            <rptOwnerName>FRASER JAMES B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P.O. BOX 941</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>POLSON</rptOwnerCity>
            <rptOwnerState>MT</rptOwnerState>
            <rptOwnerZipCode>59860</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Director/ Option(rtb)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.77</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2015-09-12</value>
            </exerciseDate>
            <expirationDate>
                <value>2024-09-11</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>U.S. Energy Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>12000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>12000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Stock options granted under the Issuer's 2008 SOP for the Independent Directors and Advisory Board Members which vest in three (3) equal annual installments beginning one year from the grant date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Steven R. Youngbauer, attorney-in-fact</signatureName>
        <signatureDate>2014-09-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
