One-Page Deal Sheet
New Western to Acquire Majority Interest of San Joaquin-Focused E&P
New Western Energy Corporation Island Energy Partners Llc
Announced Date
September 26,2014
Transaction Type
Corporate
Transaction Details: Require Private Equity Subscription
New Western Energy Corp. has signed an LOI to acquire majority control of Island Energy Partners, LLC (IEP).
IEP owns oil and gas wells, leases, and completion tools and equipment. The properties, wells and completion equipment are located in the Rio Vista Gas Field in California. There are 15 producing wells of interest on leases comprising 1300 acres. New Western will be conducting due diligence which it expects to complete within the next 45 to 60 days.
The Rio Vista Gas Field is a large natural gas field in the Sacramento--San Joaquin River Delta in northern California, adjacent to Rio…
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