U.S. Energy Corp. (U.S. Energy), is an independent energy company focused on the acquisition and development of oils and gas producing properties in the continental United States and other mineral properties. The Company operates in two segments: Oil and gases and Maintenance of Mineral Properties (including molybdenum and geothermal). On February 22, 2011, the Company entered into a participation agreement with Crimson Exploration Inc. (Crimson) to acquire a 30% working interest in an oil prospect and associated leases located in Zavala County, Texas (the Leona River prospect). On January 26, 2011, the Company acquired 80% working interest in leases covering 2,994 net mineral acres in southeast Colorado. On December 15, 2011, the Company sold an undivided 75% of its undeveloped acres in the Rough Rider prospect. On January 24, 2012, the Company sold an undivided 75% of its undeveloped acreage in the SE HR Prospect and the Yellowstone Prospect.