<SEC-DOCUMENT>0001493152-22-001594.txt : 20220119
<SEC-HEADER>0001493152-22-001594.hdr.sgml : 20220119
<ACCEPTANCE-DATETIME>20220119163256
ACCESSION NUMBER:		0001493152-22-001594
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220117
FILED AS OF DATE:		20220119
DATE AS OF CHANGE:		20220119

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Synergy Offshore LLC
		CENTRAL INDEX KEY:			0001903570
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		22539189

	BUSINESS ADDRESS:	
		STREET 1:		9821 KATY FREEWAY
		STREET 2:		SUITE 805
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024
		BUSINESS PHONE:		713.827.9988

	MAIL ADDRESS:	
		STREET 1:		9821 KATY FREEWAY
		STREET 2:		SUITE 805
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Hightower Lee
		CENTRAL INDEX KEY:			0001903597

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		22539190

	MAIL ADDRESS:	
		STREET 1:		9821 KATY FREEWAY
		STREET 2:		SUITE 805
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			King Duane H
		CENTRAL INDEX KEY:			0001903594

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		22539191

	MAIL ADDRESS:	
		STREET 1:		9821 KATY FREEWAY
		STREET 2:		SUITE 805
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024

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>2022-01-17</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001903594</rptOwnerCik>
            <rptOwnerName>King Duane H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9821 KATY FWY, SUITE 805</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON,</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77024</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Member of 10% owner group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001903597</rptOwnerCik>
            <rptOwnerName>Hightower Lee</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9821 KATY FWY, SUITE 805</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON,</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77024</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Member of 10% owner group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001903570</rptOwnerCik>
            <rptOwnerName>Synergy Offshore LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9821 KATY FWY, SUITE 805</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON,</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77024</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Member of 10% owner group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2022-01-17</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>40000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>40000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6546384</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F5"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents restricted stock shares subject to time-based vesting, which vest at the rate of (a) 1/4th of such shares on January 17, 2022, and (b) 1/4th of such shares on the last day of each six months thereafter for the following eighteen months, subject to the recipient's continued service to the Issuer.</footnote>
        <footnote id="F2">Issued to the Reporting Person in consideration for services rendered and agreed to be rendered to the Issuer as a member of the Board of Directors of the Issuer.</footnote>
        <footnote id="F3">Represents shares of shares of common stock, $0.01 par value per share of the Issuer, held by Mr. Duane H. King.</footnote>
        <footnote id="F4">Excludes shares of common stock relating to the voting group included under &quot;Remarks&quot;, except as described under footnote (5).</footnote>
        <footnote id="F5">Represents shares of common stock, $0.01 par value per share of the Issuer, held by Synergy Offshore LLC (&quot;Synergy&quot;), a Texas limited liability company. The shares held by Synergy may be deemed to be beneficially owned by Mr. King and Mr. Hightower due to their status as Chief Executive Officer and Manager and President and Manager, respectively, of Synergy, and a result of their respective ownership and positions as Managers and Officers of the limited liability company that owns 100% of the membership interests of Synergy. Mr. King and Mr. Hightower, however, disclaim beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein.</footnote>
    </footnotes>

    <remarks>By virtue of being party to a Nominating and Voting Agreement, dated as of January 5, 2022 (the &quot;Voting Agreement&quot;), Synergy, and Mr. King and Mr. Hightower, due to their status as Chief Executive Officer and Manager, and President Manager, respectively, of Synergy, may be deemed to be a member of a &quot;group&quot; for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;), with respect to the securities reported herein with the other parties who are bound by the Voting Agreement and their control persons, which such &quot;group&quot; beneficially owns, in the aggregate, more than 10% of the outstanding shares of common stock of the Issuer. In addition to Synergy, the parties to the Voting Agreement are the Issuer, Lubbock Energy Partners LLC; Banner Oil &amp; Gas, LLC; Woodford Petroleum, LLC; and Llano Energy LLC. Separately, the control persons of the other parties to the Voting Agreement may also be part of the Section 13(d) &quot;group&quot;. The reporting persons disclaim beneficial ownership of any securities owned by any of the other signatories to the Voting Agreement (and/or their control persons) and the filing of this Form 4 shall not be deemed an admission, for purposes of Section 16 of the Exchange Act or otherwise, that any of the reporting persons and any other person or persons constitute a &quot;group&quot; for purposes of Section 13(d)(3) of the Exchange Act or Rule 13d-5 thereunder. In addition, none of the reporting persons have any pecuniary interest in any of the securities beneficially owned by any of the other signatories to the Voting Agreement (and/or their control persons). For a description of the Voting Agreement, see the Current Report on Form 8-K filed by the Issuer with the United States Securities and Exchange Commission on January 10, 2022.</remarks>

    <ownerSignature>
        <signatureName>/s/ Duane H. King</signatureName>
        <signatureDate>2022-01-19</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Lee Hightower</signatureName>
        <signatureDate>2022-01-19</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Duane H. King, Chief Executive Officer of Synergy Offshore LLC</signatureName>
        <signatureDate>2022-01-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
