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New Western Energy Corporation Message Board

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  • IMHO - New World Energy is making good progress despite the difficult market caused by low prices. Revenues are up with more projects coming on line.

  • lots of info on the company and current projects - Google "new western energy corp."

  • The property consists of approximately 2,650 acres with fourteen (14) producing wells and eight (8) salt water disposal wells. Six (6) of the producing wells are horizontal and eight (8) wells are vertical. These wells produce from the Mississippi lime zone, Chattanooga shale, Layton sand, and Bartlesville sand formations.

    Based on recent data, production from the Project was approximately 82 bbl per day and 200 mcf per day. New Western strongly believes that it can enhance existing production by cleaning out the horizontal laterals, making significant improvement in well maintenance, and by identifying numerous offsetting drilling locations.

  • Was over $60 but slipping back a bit. Generally good news for little guys like New Western Energy

  • IRVINE, Calif. (GLOBE NEWSWIRE) -- New Western Energy Corp. (NWTR), an independent energy company engaged in the acquisition, exploration, development, and production of oil, gas and other minerals in North America, today announced the cancellation of its February 19, 2015, Securities Purchase Agreement (the "SPA") entered into with Fodere Titanium Limited for the assignment of a license to a patent for a new process for the extraction of minerals from tailings in the United States (the "License) in exchange for the issuance of 5,000,000 shares of the Company's common stock (the Shares"). Neither the License nor the Shares were transferred between the parties. The parties have now agreed not to complete the transaction and on May 15, 2015, entered into a Cancellation Agreement and Mutual Releases. The Company will focus its efforts on core activities of exploring and developing oil and gas properties and wishes Fodere well with its future activities in titanium extraction.

  • Looks like the company has potential:
    "New Western Energy Corporation is engaged in the acquisition, exploration, development, and production of oil, gas, and mineral properties in the United States. It holds interests in various properties located in Oklahoma, Kansas, Texas, and Pennsylvania. The company was founded in 2008 and is based in Irvine, California." L

  • Business Summary
    "New Western Energy Corporation is engaged in the acquisition, exploration, development, and production of oil, gas, and mineral properties in the United States. It holds interests in various properties located in Oklahoma, Kansas, Texas, and Pennsylvania. The company was founded in 2008 and is based in Irvine, California."

  • IRVINE, Calif. (GLOBE NEWSWIRE) -- New Western Energy Corp. (NWTR), an independent energy company engaged in the acquisition, exploration, development, and production of oil, gas and other minerals in North America, today announced that it has signed an LOI to acquire one hundred percent (100%) interest in Osage County Oil & Gas Project. The Project consists of approximately 2,650 acres with fourteen (14) producing wells and eight (8) salt water disposal wells. Six (6) of the producing wells are horizontal and eight (8) wells are vertical. These wells produce from the Mississippi lime zone, Chattanooga shale, Layton sand, and Bartlesville sand formations.

    Based on recent data, production from the Project was approximately 82 bbl per day and 200 mcf per day. New Western strongly believes that it can enhance existing production by cleaning out the horizontal laterals, making significant improvement in well maintenance, and by identifying numerous offsetting drilling locations.

    New Western will be conducting due diligence which it expects to complete within the next 30 to 45 days. The tentative date of closing is May 30, 2015 subject to and conditioned upon availability of favorable financing.

    "Our preliminary review on Osage County Oil & Gas Project is extremely positive as there is significant upside to increase current production and several additional opportunities to bring other existing wells to production," said Javan Khazali, President and CEO of New Western Energy Corporation.

  • The industry publication Drilling Edge site lists a number of wells in Solano County, CA, listed as current and active. I wonder what their current status is given the industry-wide drilling slowdown and recent beginnings of a recovery

  • Jude Clemente
    CONTRIBUTOR, Forbes

    The constant writing on the oil market today largely focuses on mounting global supply. That’s perfectly understandable: shale oil productivity has increased 50% over the past five years, U.S. crude output is up 90% since 2008, and OPEC infighting on how to deal with the U.S. shale oil revolution is interesting discussion to say the least. But, oil demand is now becoming more of a focus, as rising global use remains a steady drumbeat. For the U.S., the largest oil consumer in the world at nearly double 2nd place China, demand for the week of June 12 hit 20 million b/d, an 8% increase year-over-year. Overall, U.S. oil demand has seesawed between 18.5 and 20.5 million b/d for years. Yet, there are now signs that our demand is beginning to rise again, after the worst economic times since the 1930s. A 2014 Financial Times headline surprised many Americans: US oil demand growth outstrips China in 2013. For 2015, falling crude and product prices and rising incomes are driving higher U.S. oil demand. Through the first five months of this year, the price of crude (West Texas Intermediate) averaged $52 per barrel, compared to $100 over the same time in 2014. Real GDP per capita incomes increased 2% in 2014.

    We’re 24 weeks into 2015, and we’ve averaged 19.51 million b/d of oil consumption. By comparison, in the first 24 weeks of 2014, we averaged 18.69 million b/d, versus 18.45 million b/d in 2013.

  • Saudi gambit played out? The price of oil recently broke $60, making drilling profitable again for a growing number of producers - including bit players like NWTR

  • Reply to

    company operations

    by market_dr May 14, 2015 11:18 AM

    sounds like a plan...

  • from the website -

    OKLAHOMA
    Acres = 1,897
    Wells onsite = 143
    Injection Wells = 13

    KANSAS
    Acres = 4,140
    Wells onsite = 10
    Injection Wells = 0

    MONTANA
    Acres = 300,000+
    Wells onsite = 3
    Injection Wells = 0

  • About the only thing worth mentioning by way of news lately is the recovery in the price of oil to the $60 range, which should help smaller players like New Western Energy. Other than that, this from a few months ago but still noteworthy: The debt satisfaction from the sale of property (which the company was fortunate to sell just before the oil price crash) should help with the bottom line during these leaner months.

  • PennyStocksWeekly FWIW

  • Any word on the new subsidiary jointly owned with Forward Energy?

  • Here's hoping for a rally...

  • Reply to

    Oil Prices Fall as Traders Await OPEC Meeting

    by malibuguy76 Jun 4, 2015 2:02 PM

    what do you say now? it is up 2% from your post? Geo-political is unnerving, drill rig counts are down, I think trading range is accurate in the $58-$62 for now.

  • The Drilling Edge site lists a number of wells reported in Solano County, CA, listed as current and active. I wonder what their current status is given the drilling slowdown across the industry

  • OPEC seen most likely to keep output unchanged

    By NICOLE FRIEDMAN

    Updated June 4, 2015

    NEW YORK—Oil prices eased Thursday as traders assessed ample global crude supplies ahead of the Organization of the Petroleum Exporting Countries’ Friday meeting.

    An oversupply of crude oil, largely due to robust production from the U.S. and some OPEC countries, is keeping prices more than 40% below their highs from last June. Many analysts and investors expect the global glut of oil to shrink in the coming months as U.S. production falls in response to spending cuts and demand increases. For the time being, market watchers say, world-wide crude output continues to exceed consumption.

    Light, sweet oil for July delivery recently fell 57 cents, or 1%, to $59.07 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 40 cents, or 0.6%, to $63.40 a barrel on ICE Future Europe.

    OPEC, which opted not to cut production at its last meeting despite plunging oil prices, is widely expected to stick to that strategy when it meets Friday. The group’s output level already exceeds its quota of 30 million barrels a day.

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