U.S. Energy Corp. acquires and develops oil and gas and other mineral properties. At December 31, 2009, the Company has three operating segments: Oil and gas, real estate, and minerals (including geothermal). The Company is focused on advancing its geothermal properties through exploration and development, and eventual third party funding, sale or joint venture, and advance its molybdenum property by working with its partner, Thompson Creek Metals Company (USA) to develop the Mount Emmons molybdenum project into a operating mine. At December 31, 2009, its estimated proved reserves (approximately 75% oil and 25% natural gas) were 1,086,203 barrel of oil equivalent. Average production during the year ended December 31, 2009, was 443 barrel of oil equivalent per day (220 barrels of oil and 1,337 million cubic feet per day.