New Western Energy Corp. has established NWE Technologies Inc., a wholly owned subsidiary, to develop, acquire, and license the next generation technologies for EOR.
According to the release, the company immediately intends to deploy and use EOR on its existing 120 wells in Rogers County, Okla., and 25 wells in Texas. In addition, the company plans to market and license its EOR technologies to operators and owners of "stripper or marginal" wells, which are classified as an oil well or gas well that produces less than 10 barrels of oil per day or 60 thousand cubic feet of gas per day, respectively.
New Western Energy Corp. is an independent energy company based in Irvine, Calif., that is engaged in the acquisition, development, production, and exploration of oil, gas and minerals primarily in North America.
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