** Shares of U.S. Energy Corp USEG.O fall ~11% to $3.37 premarket

** USEG says it is offering ~4.2 mln shares of common stock at $2.65 per share for total net proceeds of ~$10.5 million

** Offer price is at a ~30% discount to stock's last close

** USEG says net proceeds will be used to fund growth capital for co's industrial gas development project

** USEG has ~29.4 mln shares outstanding for $111.3 mln market cap - LSEG data

** Roth Capital Partners is book-running manager for the offering

** USEG gained ~50% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))