Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  MOWRY BRYON G
2. Date of Event Requiring Statement (Month/Day/Year)
07/01/2011
3. Issuer Name and Ticker or Trading Symbol
US ENERGY CORP [USEG]
(Last)
(First)
(Middle)
877 N 8TH ST. W
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Principal Accounting Officer
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

RIVERTON, WY 82501
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 14,411
D (1)
 
Common Stock 43,307
I
ESOP (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Option 08/08/2003 12/07/2011 U.S. Energy Common Stock 5,000 $ 2.25 D (3)  
Employee Option 07/01/2005 06/30/2014 U.S. Energy Common Stock 50,000 $ 2.46 D (3)  
Employee Option 07/27/2008 07/26/2017 U.S. Energy Common Stock 75,000 $ 4.97 D (4)  
Employee Option 09/22/2009 09/21/2018 U.S. Energy Common Stock 30,000 $ 2.52 D (5)  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
MOWRY BRYON G
877 N 8TH ST. W
RIVERTON, WY 82501
      Principal Accounting Officer  

Signatures

/s/ Bryon G. Mowry 07/11/2011
**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) Includes shares held directly by the Reporting Person.
(2) Includes shares held in the U.S. Energy Corp. Employee Stock Ownership Plan (the'ESOP') in an account established for the benefit of the Reporting Person.
(3) Includes stock options granted under the Issuer's 2001 Incentive Stock Option Plan and exempt under Rule 16b-3.
(4) Stock options granted under the Issuer's 2001 Incentive Stock Option Plan with a 5 year vesting schedule and exempt under Rule 16b-3.
(5) Stock options granted under the Issuer's 2001 Incentive Stock Option Plan which vest in three (3) equal annual installments beginning September 22, 2009.

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