<SEC-DOCUMENT>0001437749-25-032023.txt : 20251028
<SEC-HEADER>0001437749-25-032023.hdr.sgml : 20251028
<ACCEPTANCE-DATETIME>20251028172024
ACCESSION NUMBER:		0001437749-25-032023
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251023
FILED AS OF DATE:		20251028
DATE AS OF CHANGE:		20251028

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sage Road Capital, LLC
		CENTRAL INDEX KEY:			0001903543
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		251425905

	BUSINESS ADDRESS:	
		STREET 1:		2121 SAGE ROAD
		STREET 2:		SUITE 325
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056
		BUSINESS PHONE:		713-364-1400

	MAIL ADDRESS:	
		STREET 1:		2121 SAGE ROAD
		STREET 2:		SUITE 325
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sage Road Energy II, LP
		CENTRAL INDEX KEY:			0001696210
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		251425901

	BUSINESS ADDRESS:	
		STREET 1:		2121 SAGE ROAD, SUITE 325
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056
		BUSINESS PHONE:		713-364-1400

	MAIL ADDRESS:	
		STREET 1:		2121 SAGE ROAD, SUITE 325
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Woodford Petroleum, LLC
		CENTRAL INDEX KEY:			0001903542
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		251425903

	BUSINESS ADDRESS:	
		STREET 1:		P.O. BOX 1328
		CITY:			SPRING
		STATE:			TX
		ZIP:			77383
		BUSINESS PHONE:		713-364-1400

	MAIL ADDRESS:	
		STREET 1:		2121 SAGE ROAD
		STREET 2:		SUITE 325
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SRC Management Company, LP
		CENTRAL INDEX KEY:			0002057471
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		251425900

	BUSINESS ADDRESS:	
		STREET 1:		2121 SAGE ROAD
		STREET 2:		SUITE 325
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056
		BUSINESS PHONE:		7133641410

	MAIL ADDRESS:	
		STREET 1:		2121 SAGE ROAD
		STREET 2:		SUITE 325
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Batchelor Joshua Lane
		CENTRAL INDEX KEY:			0001903548
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		251425906

	MAIL ADDRESS:	
		STREET 1:		2121 SAGE ROAD, SUITE 325
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Banner Oil & Gas, LLC
		CENTRAL INDEX KEY:			0001903556
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		251425904

	BUSINESS ADDRESS:	
		STREET 1:		10011 SOUTH PENNSYLVANIA AVE.
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73159
		BUSINESS PHONE:		713-364-1400

	MAIL ADDRESS:	
		STREET 1:		2121 SAGE ROAD
		STREET 2:		SUITE 325
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Stamets Benjamin Andrew
		CENTRAL INDEX KEY:			0001904963
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		251425902

	MAIL ADDRESS:	
		STREET 1:		2121 SAGE ROAD
		STREET 2:		SUITE 325
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77056

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			US ENERGY CORP
		CENTRAL INDEX KEY:			0000101594
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				830205516
		STATE OF INCORPORATION:			WY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1616 S. VOSS, SUITE 725
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77057
		BUSINESS PHONE:		303 993 3200

	MAIL ADDRESS:	
		STREET 1:		1616 S. VOSS, SUITE 725
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77057

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WESTERN STATES MINING INC
		DATE OF NAME CHANGE:	19851229
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        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-10-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10046</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.2504</value>
                    <footnoteId id="F8"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>245375</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F5"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-10-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15069</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.2504</value>
                    <footnoteId id="F8"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>362543</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F6"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Excludes shares of common stock relating to the voting group included under &quot;Remarks&quot;, except as described in footnotes (4), (5) and (6).Excludes shares of common stock relating to the voting group included under &quot;Remarks&quot;, except as described in footnotes (4), (5) and (6).</footnote>
        <footnote id="F2">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.23 to $1.325, inclusive. The reporting person undertakes to provide to US Energy Corp (the &quot;Issuer&quot;), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this   footnote (2) to this Form 4.</footnote>
        <footnote id="F3">Represents shares of shares of common stock, $0.01 par value per share of the Issuer (the &quot;Common Stock&quot;), held by SRC Management Company, LP (&quot;SRC&quot;). The shares held by SRC may be deemed to be beneficially owned by Sage Road Capital, LLC (&quot;Sage Road&quot;), which indirectly controls SRC, and by Mr. Batchelor and Mr. Stamets, due to their status as co-Managing Partners of Sage Road. Mr. Batchelor and Mr. Stamets disclaim beneficial ownership of the securities reported herein except to the extent of each of their pecuniary interest therein.</footnote>
        <footnote id="F4">Represents shares of the Common Stock held by Banner Oil &amp; Gas, LLC (&quot;Banner&quot;). The shares held by Banner may be deemed to be beneficially owned by Sage Road, which indirectly controls Banner and manages certain funds which own a majority interest of Banner, and by Mr. Batchelor and Mr. Stamets, due to their status as co-Managing Partners of Sage Road. Mr. Batchelor and Mr. Stamets disclaim beneficial ownership of the securities reported herein except to the extent of each of their pecuniary interest therein.</footnote>
        <footnote id="F5">Represents shares of the Common Stock held by Woodford Petroleum, LLC (&quot;Woodford&quot;). The shares held by Woodford may be deemed to be beneficially owned by Sage Road, which indirectly controls Woodford and manages certain funds which own a majority interest of Woodford, and by Mr. Batchelor and Mr. Stamets, due to their status as co-Managing Partners of Sage Road. Mr. Batchelor and Mr. Stamets disclaim beneficial ownership of the securities reported herein except to the extent of each of their pecuniary interest therein.</footnote>
        <footnote id="F6">Represents shares of the Common Stock held by Sage Road Energy II, LP (&quot;Sage Road Energy&quot;). The shares held by Sage Road Energy may be deemed to be beneficially owned by Sage Road, which indirectly controls Sage Road Energy and manages certain funds which own a majority interest of Sage Road Energy, and by Mr. Batchelor and Mr. Stamets, due to their status as co-Managing Partners of Sage Road. Mr. Batchelor and Mr. Stamets disclaim beneficial ownership of the securities reported herein except to the extent of each of their pecuniary interest therein.</footnote>
        <footnote id="F7">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.24 to $1.29, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this   footnote (7) to this Form 4.</footnote>
        <footnote id="F8">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.23 to $1.27, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this   footnote (8) to this Form 4.</footnote>
    </footnotes>

    <remarks>By virtue of being party to an Amendment and Restated Nominating and Voting Agreement, dated as of  September 16, 2022 (the &quot;Voting Agreement&quot;), Banner, Woodford, and Sage Road and Mr. Batchelor and Mr. Stamets, due to their control of such entities, 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 Banner and Woodford, the parties to the Voting Agreement are Llano Energy LLC, which is indirectly controlled by Sage Road, but which holds no shares of the Issuer's common stock; the Issuer; Lubbock Energy Partners LLC; Synergy Offshore LLC; Banner Oil &amp; Gas, LLC; King Oil &amp; Gas Company, Inc.; WDM Family Partnership, LP; and Katla Energy Holdings 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 September 16, 2022.</remarks>

    <ownerSignature>
        <signatureName>/s/ Joshua L. Batchelor</signatureName>
        <signatureDate>2025-10-27</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Benjamin A. Stamets</signatureName>
        <signatureDate>2025-10-27</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Joshua L. Batchelor, Managing Partner of Sage Road Capital, LLC</signatureName>
        <signatureDate>2025-10-27</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Joshua L. Batchelor, Manager of Banner Oil &amp; Gas, LLC</signatureName>
        <signatureDate>2025-10-27</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Joshua L. Batchelor, Manager of Woodford Petroleum, LLC</signatureName>
        <signatureDate>2025-10-27</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Joshua L. Batchelor, Manager of Sage Road Energy II, LP</signatureName>
        <signatureDate>2025-10-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
