<SEC-DOCUMENT>0001437749-25-032462.txt : 20251030
<SEC-HEADER>0001437749-25-032462.hdr.sgml : 20251030
<ACCEPTANCE-DATETIME>20251030181540
ACCESSION NUMBER:		0001437749-25-032462
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251028
FILED AS OF DATE:		20251030
DATE AS OF CHANGE:		20251030

REPORTING-OWNER:	

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

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		251437393

	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:			King Oil & Gas Company, Inc.
		CENTRAL INDEX KEY:			0001938274
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		251437394

	BUSINESS ADDRESS:	
		STREET 1:		9821 KATY FREEWAY
		STREET 2:		SUITE 805
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024
		BUSINESS PHONE:		713-752-8619

	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
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06814
		FILM NUMBER:		251437395

	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]
		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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rdgdoc.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-10-28</periodOfReport>

    <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>1401 LAKE PLAZA DR.</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 200-185</rptOwnerStreet2>
            <rptOwnerCity>SPRING</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77389</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Member of 10% owner group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001938274</rptOwnerCik>
            <rptOwnerName>King Oil &amp; Gas Company, Inc.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1401 LAKE PLAZA DR.</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 200-185</rptOwnerStreet2>
            <rptOwnerCity>SPRING</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77389</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOther>1</isOther>
            <otherText>Director owned entity</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001903570</rptOwnerCik>
            <rptOwnerName>Synergy Offshore LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1401 LAKE PLAZA DR.</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 200-185</rptOwnerStreet2>
            <rptOwnerCity>SPRING</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77389</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Member of 10% owner group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>188913</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-10-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F3"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>332329</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2359728</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F4"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-10-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F3"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1400000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Synergy Offshore LLC</value>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Excludes shares of common stock relating to the voting group included under &quot;Remarks&quot;.</footnote>
        <footnote id="F2">Represents shares of common stock, $0.01 par value per share of the Issuer (&quot;Common Stock&quot;), held by Mr. Duane H. King.  20,000 of such shares of Common Stock are restricted shares that remain subject to time-based vesting on January 1, 2026, and recipient's continued service to the Issuer.</footnote>
        <footnote id="F3">On October 28, 2025, Synergy Offshore LLC distributed all 1,400,000 shares of Common Stock owned by it to Synergy Producing Properties, LLC (&quot;SPP&quot;), and SPP distributed all of such shares to its members, including 332,329 shares to King Oil.  Such shares were distributed without payment of any additional consideration.  As a result of such distribution, each of Mr. King and King Oil beneficially own less than 10% of the outstanding shares of Common Stock, and Synergy Offshore, LLC is no longer part of a 10% owner group.</footnote>
        <footnote id="F4">Represents shares of Common Stock, $0.01, held by King Oil &amp; Gas Company, Inc. (&quot;King Oil&quot;), which is 100% owned by Duane K. King. The shares held by King Oil may be deemed to be beneficially owned by Mr. King due to his status as Chief Executive Officer of and ownership interests in King Oil.  Mr. King disclaims beneficial ownership other than to the extent of his pecuniary interest therein.</footnote>
        <footnote id="F5">Represents shares of Common Stock previously held by Synergy Offshore LLC, which is 100% owned by SPP. The shares previously held directly by Synergy Offshore LLC may be deemed to be beneficially owned by Mr. King and King Oil based on certain member rights in SPP. Mr. King disclaims beneficial ownership other than to the extent of his pecuniary interest therein.</footnote>
    </footnotes>

    <remarks>By virtue of being party to a Nominating and Voting Agreement, dated as of January 5, 2022, as amended September 16, 2023 (the &quot;Voting Agreement&quot;), Mr. King and King Oil 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 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).</remarks>

    <ownerSignature>
        <signatureName>/s/ Duane H. King</signatureName>
        <signatureDate>2025-10-30</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Duane H. King, Chief Executive Officer of King Oil and Gas Company, Inc.</signatureName>
        <signatureDate>2025-10-30</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Duane H. King, Chief Executive Officer of Synergy Offshore LLC</signatureName>
        <signatureDate>2025-10-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
