<SEC-DOCUMENT>0001493152-21-001532.txt : 20210121
<SEC-HEADER>0001493152-21-001532.hdr.sgml : 20210121
<ACCEPTANCE-DATETIME>20210121161535
ACCESSION NUMBER:		0001493152-21-001532
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210119
FILED AS OF DATE:		20210121
DATE AS OF CHANGE:		20210121

REPORTING-OWNER:	

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

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		21542161

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Angelus Private Equity Group, LLC
		CENTRAL INDEX KEY:			0001774672
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		21542162

	BUSINESS ADDRESS:	
		STREET 1:		2808 FLINTROCK TRACE
		STREET 2:		SUITE 373
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78738
		BUSINESS PHONE:		(512) 587-5092

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			APEG Energy II GP, LLC
		CENTRAL INDEX KEY:			0001774795
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		21542163

	BUSINESS ADDRESS:	
		STREET 1:		2808 FLINTROCK TRACE
		STREET 2:		SUITE 373
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78738
		BUSINESS PHONE:		(512) 587-5092

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Duke Capital Services, LLC
		CENTRAL INDEX KEY:			0001774590
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		21542164

	BUSINESS ADDRESS:	
		STREET 1:		2808 FLINTROCK TRACE
		STREET 2:		SUITE 373
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78738
		BUSINESS PHONE:		(512) 587-5092

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Angelus Capital, LLC
		CENTRAL INDEX KEY:			0001774558
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		21542165

	BUSINESS ADDRESS:	
		STREET 1:		2808 FLINTROCK TRACE
		STREET 2:		SUITE 373
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78738
		BUSINESS PHONE:		(512) 587-5092

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			APEG Energy II, LP
		CENTRAL INDEX KEY:			0001704591
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		21542166

	BUSINESS ADDRESS:	
		STREET 1:		3305 NORTHLAND DRIVE
		STREET 2:		SUITE 101
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78731
		BUSINESS PHONE:		512-743-6925

	MAIL ADDRESS:	
		STREET 1:		3305 NORTHLAND DRIVE
		STREET 2:		SUITE 101
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78731

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Haarman Paul W.
		CENTRAL INDEX KEY:			0001772236

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		21542167

	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:		675 BERING, SUITE 100
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77057
		BUSINESS PHONE:		303 993 3200

	MAIL ADDRESS:	
		STREET 1:		675 BERING, SUITE 100
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77057

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WESTERN STATES MINING INC
		DATE OF NAME CHANGE:	19851229
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-01-19</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <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>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Former 10% Owner</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001774672</rptOwnerCik>
            <rptOwnerName>Angelus Private Equity Group, LLC</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>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Former 10% Owner</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001774795</rptOwnerCik>
            <rptOwnerName>APEG Energy II GP, LLC</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>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Former 10% Owner</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001774590</rptOwnerCik>
            <rptOwnerName>Duke Capital Services, LLC</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>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Former 10% Owner</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001774558</rptOwnerCik>
            <rptOwnerName>Angelus Capital, LLC</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>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Former 10% Owner</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001704591</rptOwnerCik>
            <rptOwnerName>APEG Energy II, LP</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>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Former 10% Owner</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001772236</rptOwnerCik>
            <rptOwnerName>Haarman Paul W.</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>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Former 10% Owner</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-01-19</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>581927</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F4"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents a pro-rata in-kind distribution, and not a purchase or sale, of the Issuer's shares, by APEG II LP (defined in Footnote 2), to its partners without consideration.</footnote>
        <footnote id="F2">APEG Energy II, LP (&quot;APEG II LP&quot;) directly owned 581,927 shares of Common Stock, par value $0.01 per share (the &quot;Shares&quot;), of U.S. Energy Corp. APEG Energy II GP, LLC (&quot;APEG II GP&quot;) as general partner and investment advisor of APEG II LP may be deemed the beneficial owner of the 581,927 Shares directly owned by APEG II LP. Angelus Capital, LLC (&quot;Angelus Capital&quot;) as the sole member of APEG II GP may be deemed to beneficially own the 581,927 Shares beneficially owned by APEG II GP.</footnote>
        <footnote id="F3">Angelus Private Equity Group, LLC (&quot;Angelus Group&quot;) as the sole member of Angelus Capital may be deemed to beneficially own the 581,927 Shares beneficially owned by Angelus Capital. Paul W. Haarman as a managing member of Angelus Group may be deemed to beneficially own the 581,927 Shares beneficially owned by Angelus Group. Patrick E. Duke as sole member of Duke may be deemed to beneficially own 581,927 Shares beneficially owned by Duke. Each Reporting Person disclaims beneficial ownership of securities reported herein except to the extent of its/his pecuniary interest therein.</footnote>
        <footnote id="F4">After the pro-rata in-kind distribution (see footnote 1), none of the Reporting Persons, including Mr. Patrick E. Duke, who is a member of the Board of Directors of the Issuer, hold any ownership interest in the Issuer.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Patrick E. Duke</signatureName>
        <signatureDate>2021-01-21</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Patrick E. Duke, Sole Member of Duke Capital Services, LLC, as managing member of Angelus Private Equity Group, LLC, as sole member of Angelus Capital, LLC, as sole member of APEG Energy II GP, LLC, as general partner of APEG Energy II, LP</signatureName>
        <signatureDate>2021-01-21</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Patrick E. Duke, Sole Member of Duke Capital Services, LLC, as managing member of Angelus Private Equity Group, LLC, as sole member of Angelus Capital, LLC</signatureName>
        <signatureDate>2021-01-21</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Patrick E. Duke, Sole Member of Duke Capital Services, LLC</signatureName>
        <signatureDate>2021-01-21</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Patrick E. Duke, Sole Member of Duke Capital Services, LLC, as managing member of Angelus Private Equity Group, LLC, as sole member of Angelus Capital, LLC, as sole member of APEG Energy II GP, LLC</signatureName>
        <signatureDate>2021-01-21</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Patrick E. Duke, Sole Member of Duke Capital Services, LLC, as managing member of Angelus Private Equity Group, LLC</signatureName>
        <signatureDate>2021-01-21</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Paul W. Haarman</signatureName>
        <signatureDate>2021-01-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
