New Era Energy & Digital (NASDAQ:NUAI) said on Friday that it has filed its quarterly report for the period ended March 31, 2026, while outlining recent financing, development and strategic milestones tied to its Texas Critical Data Center (TCDC) project in the Permian Basin.
The company said Q1 results primarily reflected its legacy oil and gas operations, which it continues to assess for possible monetization or exit, as it focuses on advancing TCDC toward commercialization.
Among recent developments, New Era said it entered a definitive agreement to acquire a 54-acre corridor adjacent to TCDC, increasing its total land position to 492 acres.
The company also announced a non-binding letter of intent with Stream Data Centers related to TCDC development and financing efforts.
New Era said it continued advancing project workstreams tied to Phase 1 site readiness, including civil engineering, permitting, site planning, pipeline reclamation and procurement of long-lead equipment. Near-term milestones include site clearing, earthworks and securing Industrial District designation.
On the financing side, the company completed a $115 million registered common stock offering and closed an up to $290 million credit facility with Macquarie, which also invested an additional $5 million in equity. New Era said it repaid the SharonAI note, simplifying its capital structure.
The company reported cash holdings of more than $80 million as of April 30, and said available liquidity is expected to support its equity contribution to TCDC Phase 1 and future development.
New Era also said it is progressing definitive project documentation, including a joint venture agreement and a lease with an investment-grade hyperscaler.
The company plans to host a business update call on May 18 to discuss strategic, liquidity and development progress.