New West Data Signs Letter of Intent to Acquire Significant Oil and Gas Assets Near Rocky Mountain House, Alberta

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Proposed transaction expected to more than triple production to 4,500 BOE/d and more than double self-powered off-grid compute capacity to 35 MW

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Company plans to expand off-grid compute beyond bitcoin mining into high-density HPC and AI

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CALGARY, Alberta, May 19, 2026 (GLOBE NEWSWIRE) — New West Data Corp. (“New West Data”), North America’s first vertically integrated oil and gas producer and off-grid digital infrastructure operator, today announced that it has signed a Letter of Intent with Azimuth Capital Management (“Azimuth”) to acquire Entrada Resources Inc. (“Entrada Resources”). Through the proposed Transaction, New West Data intends to purchase all of the shares of Entrada Resources, acquiring a concentrated, high-quality oil and gas production asset base located near Rocky Mountain House in Central Alberta.

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The Transaction, expected to close in the third quarter of 2026, would add 3,500 barrels of oil equivalent per day (BOE/d) to the company’s current 1,000 BOE/d production profile. Crucially, the acquisition is intended to secure both 2,000 bbl/d of incremental oil and liquids production, and the stranded natural gas energy capacity to power an additional 20 megawatts (MW) of off-grid compute, bringing New West Data’s total oil and liquids production to approximately 2,300 bbl/d and proprietary power generation capacity to 35 MW.

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“For six years, we’ve proven that the best way to maximize the profitability of oil wells with natural gas egress issues is to bring the compute to the energy source,” said Sean McDonough, President and CEO of New West Data. “Acquiring these profitable assets in Central Alberta is a transformational milestone that would more than triple our production and double our off-grid power capacity. More importantly, this transaction is a critical step toward unlocking our next phase of growth, positioning us to expand our digital footprint beyond bitcoin mining to install high-density HPC and AI compute directly at the source, showcasing that the future of digital infrastructure is being built by energy operators.”

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Adding Entrada Resources’ Rocky Mountain House assets to its portfolio will solidify New West Data’s position as the premier operator bridging oil and gas production and high-performance digital infrastructure. By capturing the stranded natural gas from these newly acquired assets, the company can deploy its signature modular infrastructure directly at the wellhead, bypassing energy grid queues entirely to energize immediate, high-margin compute.

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The proposed Transaction is subject to certain financing conditions, customary closing conditions and regulatory and shareholder approvals. On closing, Azimuth will be entitled to appoint two directors to the board of New West Data. Following closing, New West Data intends to deploy off-grid power generation and data centre infrastructure across the Rocky Mountain House footprint to bring new compute online in as little as nine months: a fraction of multi-year timelines that grid-connected digital infrastructure companies across North America are facing.

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