New Era Energy & Digital (NASDAQ:NUAI) said it will contest a civil complaint recently filed by the State of New Mexico Attorney General and the New Mexico Oil Conservation Division, calling the allegations unfounded and stating they do not affect the company’s core business.
In a statement released from Midland, Texas, the Nasdaq-listed company said it intends to defend itself and its chairman and CEO, E. Will Gray II, against what it described as false claims made in the lawsuit.
The company highlighted that the allegations do not involve assets it considers material to its near-term operations.
New Era said the complaint references 87 oil and gas wells that it considers immaterial to its current business model. According to the company, those wells no longer align with its strategic focus and were already in the process of being divested. New Era added that its primary focus is on its digital infrastructure business.
The company highlighted a previously announced agreement, dated December 23, 2025, to acquire Sharon AI’s 50% ownership interest in Texas Critical Data Centers LLC. The asset is described as a more than one-gigawatt hyperscale data center development located in Ector County near Odessa, Texas. New Era said it is focused on consolidating ownership of the project and advancing its next phase of development.
New Era also stated that it believes the lawsuit contains factual errors and misstatements, and said it expects to address the allegations further through the legal process.
The company added that it was not contacted by the Attorney General’s office or the Oil Conservation Division prior to the filing of the complaint, and said it was not given an opportunity to respond to what it characterizes as inaccuracies.
In its statement, New Era denied any affiliation with Acacia Operating Company, LLC or Acacia Resources, LLC, and said neither the company nor Gray engaged in any scheme to defraud the State of New Mexico. The company said it believes this undermines a central theory of the lawsuit.
New Era also pointed to its activities in New Mexico, stating that through its operating entity, Solis Partners, it has spent more than $10 million on state taxes and local businesses since its inception.
The company added that it recently entered into a land option purchase agreement for approximately 3,500 acres in Lea County, New Mexico, for a proposed seven-gigawatt hyperscale artificial intelligence data center campus.
“The bottom line is that New Era will not be distracted by misguided attacks,” the company said in a statement. “We will continue to execute our business plans and work to deliver value for all our stakeholders.”