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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1. Name and Address of Reporting Person *   FREEPORT-MCMORAN INC 2. Date of Event Requiring Statement (Month/Day/Year) 02/11/2016 3. Issuer Name and Ticker or Trading Symbol US ENERGY CORP [USEG] (Last) (First) (Middle) 333 NORTH CENTRAL AVE. 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) PHOENIX, AZ 85004 6. Individual or Joint/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 (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)

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
Series A Convertible Preferred Stock	  (1)	  (1)	Common Stock	4,000,000	$ (1)	I	Through Subsidiary

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
FREEPORT-MCMORAN INC 333 NORTH CENTRAL AVE. PHOENIX, AZ 85004	Â	  X	Â	Â
Mt. Emmons Mining Co 333 NORTH CENTRAL AVE. PHOENIX, AZ 85004	Â	  X	Â	Â

Signatures

/s/ Michael J. Arnold, Executive Vice President and Chief Administrative Officer, Freeport-McMoRan Inc.		02/19/2016
**Signature of Reporting Person		Date
/s/ Michael J. Arnold, Executive Vice President, Mt. Emmons Mining Company		02/19/2016
**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)	On February 11, 2016, Mt. Emmons Mining Company, an indirect wholly owned subsidiary of Freeport-McMoRan Inc., purchased 50,000 shares of the Issuer's Series A Convertible Preferred Stock (the "Preferred Stock"). The Preferred Stock is convertible at any time, at the holder's election, into 4,000,000 shares of the Issuer's common stock, and has no expiration date. This initial conversion rate shall be adjusted each quarter to reflect accrued dividends, provided that the Preferred Stock shall not be converted into more than a maximum of 4,760,095 shares of the Issuer's common stock, subject to applicable anti-dilution adjustments.

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