We were incorporated in the State of Nevada on September 25, 2008.
Our strategic partner PEMCO was formed in 2004 to work within the mid-continent marginal well market. PEMCO’s team is comprised of oil and gas industry veterans with 65-years of combined experience in petroleum geology and engineering, well stimulation, drilling, and oil recovery.
PEMCO also works with its clients to manage day-to-day operations of leases, develop growth strategies, and evaluate potential acquisition opportunities. PEMCO manages the day-to-day operations at the Company’s leaseholds in Oklahoma.
Our strategic partner Carroll Energy, LLC is located in Independence, Kansas, is a family-owned company with over 30 years of experience in the oil and gas industry led by Terry Carroll Sr. who has supervised and provided daily management and operations for numerous oil and gas companies, partnerships and private investors.
Carroll Energy has been involved in the drilling and completing of thousands of wells, constructing, operating, and maintaining hundreds of miles of natural gas gathering pipeline, compression and dehydration facilities, cumulatively producing more than 15 BCF of gas and 750,000 BBLs of oil.
On December 1, 2010, we formed an entity named New Western Texas Oil and Gas Corporation incorporated in the State of Nevada, as our wholly-owned subsidiary.
New Western Texas Oil and gas Corporation started its operations in January 2011. On May 3, 2013, New Western Texas Oil and Gas Corporation amended its Articles of Incorporation and changed its name to New Western Gas Corporation.
On January 2, 2012, we completed the acquisition of 100% of the issued and outstanding capital stock of Royal Texan Energy Co., a Texas corporation (“RTE”) and RTE became our wholly-owned subsidiary and conducts business as a separate operating company.
On January 31, 2013, we formed an entity named NWE Technologies, Inc. incorporated in the State of Nevada, as our wholly-owned subsidiary. NWE Technologies will conduct its business in acquiring, developing and licensing enhanced oil recovery technologies including detailed reservoir engineering analysis, drilling development wells utilizing sophisticated techniques and selectively recompleting existing wells.
New Western Operating LLC, a wholly-owned subsidiary, which is incorporated in the state of Kansas, enables New Western Energy to become its own operator of all of its 7 Kansas leases, including its B&W Ranch, Fields, Smith, Rinck, Farwell, Landers and Volunteer leases in Chautauqua and Wilson Counties, comprising 4,140 acres.
In December, 2014, we signed a definitive agreement on the majority control in a newly formed subsidiary jointly owned with Forward Energy LLC of Montana and named NWE Forward Energy LLC. Our wholly owned subsidiary, NWE Forward Energy LLC will include all rights, title and interest in and to Forward Energy LLC's current and future oil and gas wells, leases, and designated completion equipment license and perpetuity rights.
New Western Energy wholly owned subsidiary, New Western Montana Oil & Gas Corporation has been established to own and control oil & gas properties in the state of Montana.
In February, 2015, we have signed a Securities Purchase Agreement (the "Agreement") with Fodere Titanium Limited , a U.K based company ("FODERE") that holds the exclusive worldwide rights to extraction technologies designed in conjunction with a prominent English university that allow for the zero waste recovery of high-grade titanium dioxide (TiO2), high-purity vanadium (V), high carbon steel and other high-value elements from either tailings stockpiles or direct mineral deposits. Fore more information on FODERE, please click on the official website.
All oil and gas leases in Oklahoma are located in Rogers and Nowata County covering approximately 1,897 acres with 143 wells onsite in an extremely prolific oil producing zone in the mid-continent.