LegalMay 28, 2026, 04:28 PM
New Era Energy & Digital to pay $1M to settle New Mexico claims
AI Summary
New Era Energy & Digital, Inc. announced a pending settlement agreement to resolve all claims brought by the State of New Mexico against the company and certain related parties. Under the agreement, the company will pay $1.0 million to the United States Trustee, with the claims to be dismissed with prejudice upon approval by the United States Bankruptcy Court. The settlement, which does not constitute an admission of liability, allows the company to focus on its AI data center strategy, though CEO E. Will Gray II still faces individual claims not covered by this agreement.
Key Highlights
- New Era Energy & Digital reached a pending settlement agreement with the United States Trustee.
- The company and related parties will pay $1.0 million to resolve all claims by the State of New Mexico.
- The claims relate to allegations concerning legacy helium and gas assets and associated environmental obligations.
- The settlement is subject to approval by the United States Bankruptcy Court for the Western District of Texas.
- Upon court approval, the State of New Mexico's claims against the company will be dismissed with prejudice.
- The settlement does not constitute an admission of liability or wrongdoing by New Era Energy & Digital.
- CEO E. Will Gray II continues to face and defend three individual claims from the State of New Mexico.
- The company remains focused on advancing its AI data center strategy.
Price Impact
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