Initial Statement of Beneficial Ownership (Form 3)

Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Batchelor Joshua Lane 2. Date of Event Requiring Statement (Month/Day/Year) 2022-01-05 3. Issuer Name and Ticker or Trading Symbol US ENERGY CORP [USEG] (Last) (First) (Middle) 2121 SAGE ROAD, SUITE 325 , 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) / Member of 10% owner group 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) HOUSTON, TX 77056 6. Individual or Join/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security 2. Amount of Securities Beneficially Owned 3. Ownership Form: Direct (D) or Indirect (I) 4. Nature of Indirect Beneficial Ownership

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivate Security	2. Date Exercisable and Expiration Date	3. Title and Amount of Securities Underlying Derivative Security	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)	6. Nature of Indirect Beneficial Ownership
Date Exercisable	Expriation Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Director	10% Owner	Officer	Other
Batchelor Joshua Lane 2121 SAGE ROAD, SUITE 325 HOUSTON,, TX77056	X	X		Member of 10% owner group
Sage Road Capital, LLC 2121 SAGE ROAD, SUITE 325 HOUSTON, TX77056		X		Member of 10% owner group
Banner Oil & Gas, LLC 2121 SAGE ROAD SUITE 325 HOUSTON, TX77056		X		Member of 10% owner group
Woodford Petroleum, LLC 2121 SAGE ROAD SUITE 325 HOUSTON, TX77056				Member of 10% owner group
Llano Energy LLC 2121 SAGE ROAD SUITE 325 HOUSTON, TX77056				Member of 10% owner group
Stamets Benjamin Andrew 2121 SAGE ROAD, SUITE 325 HOUSTON, TX77056		X		Member of 10% owner group

Signatures

/s/ Joshua L. Batchelor	2022-01-18
**Signature of Reporting Person	Date
/s/ Benjamin A. Stamets	2022-01-18
**Signature of Reporting Person	Date
/s/ Joshua L. Batchelor, Managing Partner of Sage Road Capital, LLC	2022-01-18
**Signature of Reporting Person	Date
/s/ Joshua L. Batchelor, Manager of Banner Oil & Gas, LLC	2022-01-18
**Signature of Reporting Person	Date
/s/ Joshua L. Batchelor, Manager of Woodford Petroleum, LLC	2022-01-18
**Signature of Reporting Person	Date
/s/ Joshua L. Batchelor, Manager of Llano Energy LLC	2022-01-18
**Signature of Reporting Person	Date

Explanation of Responses:

(*)	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
(**)	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Excludes shares of common stock relating to the voting group described below under "Remarks", except as described in footnotes (2), (3) and (4).
(2)	Represents shares of common stock, $0.01 par value per share of the Issuer, held by Banner Oil & Gas, LLC ("Banner"). The shares held by Banner may be deemed to be beneficially owned by Sage Road Capital, LLC ("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.
(3)	Represents shares of common stock, $0.01 par value per share of the Issuer, held by Woodford Petroleum, LLC ("Woodford"). 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.
(4)	Represents shares of common stock, $0.01 par value per share of the Issuer, held by Llano Energy LLC ("Llano"). The shares held by Llano may be deemed to be beneficially owned by Sage Road, which indirectly controls Llano and manages certain funds which own a majority interest of Llano, 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.

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