---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-000753"
form_type: "8-K"
ticker: "USEG"
cik: "0000101594"
company_name: "US ENERGY CORP"
filed_at: "2022-01-10T23:59:59+00:00"
generated_at: "2026-06-27T19:09:58.551676+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# USEG closes acquisition of oil & gas assets for $1.25M cash, 19.9M shares, $3.5M debt

## Summary
- Acquired assets from Lubbock, Banner, and Synergy for $1.25M cash, 19,905,736 shares, $3.5M debt assumption, and hedge novation (~$3.1M MTM loss).
- Board expanded from 5 to 7; appointed Weinzierl (Chairman), Batchelor, and King, designated by the sellers.
- Entered new 5-year $15M revolving credit facility with Firstbank; $3.5M drawn at closing to repay assumed Banner debt.
- Signed related agreements: Registration Rights, Nominating/Voting, Contribution, Farmout, and Transition Services.

## SEC filing metadata
- accession: 0001493152-22-000753
- form_type: 8-K
- ticker: USEG
- cik: 0000101594
- company_name: US ENERGY CORP
- filed_at: 2022-01-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.02, 3.03, 5.03, 5.01, 5.02, 5.07, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/101594/000149315222000753/0001493152-22-000753-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/101594/000149315222000753/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-000753
- JSON: https://secwatch.observer/filing/0001493152-22-000753.json
- Plain text: https://secwatch.observer/filing/0001493152-22-000753.txt

## Key facts
- Executive change
  Javier F. Pico resigned as Director at US ENERGY CORP.
  - Action: resigned
  - Role: Director
  source text: Javier F. Pico notified the Company of his intent to resign as a member of the Board of Directors of the Company, effective upon the Closing, which Closing and which resignation was effective January 5, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/101594/000149315222000753/0001493152-22-000753-index.htm
- Executive change
  Donald Kessel was appointed as Chief Operating Officer at US ENERGY CORP.
  - Action: appointed
  - Role: Chief Operating Officer
  source text: the Board of Directors appointed Mr. Donald Kessel as Chief Operating Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/101594/000149315222000753/0001493152-22-000753-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.