Management

Ryan Smith

CEO / CFO

Mr. Smith has served as the Company’s Chief Executive Officer since December 2019 and as the Company’s Chief Financial Officer since January 2017. Prior to this position, Mr. Smith served as Emerald Oil Inc.’s Chief Financial Officer from September 2014 to January 2017 and Vice President of Capital Markets and Strategy from July 2013 to September 2014. Prior to joining Emerald, Mr. Smith was a Vice President in Canaccord Genuity’s Investment Banking Group focused solely on the energy sector. Mr. Smith joined Canaccord Genuity in 2008 and was responsible for the execution of public and private financing engagements along with mergers and acquisitions advisory services. Prior to joining Canaccord Genuity, Mr. Smith was an Analyst in the Wells Fargo Energy Group, working solely with upstream and midstream oil and gas companies. Mr. Smith holds a Bachelor of Business Administration degree in Finance from Texas A&M University.

Don Kessel

COO

Mr. Kessel has served as U.S. Energy’s Vice President of Operations (non-executive) since April 2021 after consulting for the Company since March 2020. Mr. Kessel has also provided consulting services to various entities in the exploration and production industry since 2016. Mr. Kessel previously served as Interim President and Chief Executive Officer of Timber Creek Energy LLC, an oil and gas exploration and production company from March 2018 to January 2019. Mr. Kessel is responsible for improving efficiency and implementing operational changes on U.S. Energy’s assets. Mr. Kessel co-founded Murex Petroleum Corporation in 1999 and grew the company into an industry leader in the Williston Basin, before leaving in 2016. Mr. Kessel’s began his oil and gas career at Hess Corporation in various engineering roles. Mr. Kessel spent 18 years on the Board of the North Dakota Petroleum Council and serves as the Chair of the Advisory Committee of the Petroleum Technology Program at Bismarck State College. Mr. Kessel obtained a B.S. in petroleum engineering from North Dakota State University.

Reid Bundgard

CAO

Mr. Bundgard served as the Company’s Controller from October 2018 until his promotion to Chief Accounting Officer in April 2021. Prior joining U.S. Energy, Mr. Bundgard served from January 2015 to August 2018 as Controller of Tellurian, a Houston Texas based LNG Company, and Tellurian’s predecessor company, Magellan Petroleum Corporation, a Denver Colorado based exploration and production company with operations in Montana and exploration projects in the United Kingdom and Australia. Prior to joining Magellan, Mr. Bundgard held various accounting and finance positions including Financial Reporting Manager, Treasury and Risk Manager and Controller from 2001 to 2014 with Venoco, Inc., an independent energy company engaged in acquisition, exploration and development of oil and natural gas primarily in offshore and onshore California and Texas’ Gulf Coast. Mr. Bundgard received a B.S. in Accounting from the University of Southern California and holds an active certified public accountant license in the State of California.