<SEC-DOCUMENT>0001213900-19-007071.txt : 20190424
<SEC-HEADER>0001213900-19-007071.hdr.sgml : 20190424
<ACCEPTANCE-DATETIME>20190424183234
ACCESSION NUMBER:		0001213900-19-007071
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20171227
FILED AS OF DATE:		20190424
DATE AS OF CHANGE:		20190424

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Duke Patrick E.
		CENTRAL INDEX KEY:			0001774603

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		19764899

	MAIL ADDRESS:	
		STREET 1:		2808 FLINTROCK TRACE
		STREET 2:		SUITE 373
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78738

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:		950 SOUTH CHERRY STREET
		STREET 2:		SUITE 1515
		CITY:			DENVER
		STATE:			CO
		ZIP:			80246
		BUSINESS PHONE:		303 993 3200

	MAIL ADDRESS:	
		STREET 1:		950 SOUTH CHERRY STREET
		STREET 2:		SUITE 1515
		CITY:			DENVER
		STATE:			CO
		ZIP:			80246

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WESTERN STATES MINING INC
		DATE OF NAME CHANGE:	19851229
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2017-12-27</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001774603</rptOwnerCik>
            <rptOwnerName>Duke Patrick E.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2808 FLINTROCK TRACE SUITE 373</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>AUSTIN</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>78738</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5819270</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">APEG Energy II, LP (&quot;APEG LP&quot;) directly owns 5,819,270 shares of Common Stock (the &quot;Shares&quot;), of U.S. Energy Corp. APEG Energy II GP, LLC (&quot;APEG GP&quot;) as general partner of APEG LP may be deemed beneficial owner of 5,819,270 Shares owned by APEG LP. Angelus Capital, LLC (&quot;Angelus&quot;) as sole member of APEG GP may be deemed to beneficially own 5,819,270 Shares beneficially owned by APEG GP. Angelus Private Equity Group, LLC (&quot;Angelus Group&quot;) as sole member of Angelus may be deemed to beneficially own 5,819,270 Shares beneficially owned by Angelus Capital. Duke Capital Services, LLC (&quot;Duke&quot;) as a managing member of Angelus Group may be deemed to beneficially own 5,819,270 Shares beneficially owned by Angelus Group. Patrick E. Duke (the &quot;Reporting Person&quot;) as sole member of Duke may be deemed to beneficially own 5,819,270 Shares beneficially owned by Duke. Reporting Person disclaims beneficial ownership of securities reported herein except to the extent of his pecuniary interest therein.</footnote>
    </footnotes>

    <remarks>This Form 3 is being filed in connection with the exchange of loans held by APEG II LP and made to U.S. Energy Corp. for 5,819,270 Shares of U.S. Energy Corp.</remarks>

    <ownerSignature>
        <signatureName>/s/ Patrick E. Duke</signatureName>
        <signatureDate>2019-04-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
