Bayswater Acquires New DJ Assets & Continues to Expand Colorado Footprint

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Bayswater Exploration & Production, LLC

Feb 12, 2024, 13:08 ET

DENVER, Feb. 12, 2024 /PRNewswire/ -- Bayswater Exploration & Production (Bayswater), a Denver-based oil and natural gas development company, recently acquired assets that will continue to expand its operations in the Denver Julesburg (DJ) Basin in Weld County, Colorado. In an agreement with Confluence DJ LLC, a subsidiary of Confluence Resources LP (Confluence), Bayswater acquired the following assets in unincorporated Weld County ten miles north of Roggen, Colorado:

Two adjacent pads developed from two separate surface areas.
6 producing wells.
23 drilled but uncompleted wells (DUCs).
All wells on both pads are fully permitted by the Colorado Energy & Carbon Management Commission (ECMC), Colorado's oil and gas regulatory agency.

"We are pleased to be expanding our operations in the DJ with the acquisition of these high-quality assets from Confluence," said Bayswater President and CEO, Steve Struna. "We have proudly operated in Weld County for 15 years and are committed to the responsible development of Colorado oil and natural gas, arguably the cleanest energy molecules produced in the country and worldwide. These assets are a great fit to expand our existing operations base in Weld County."

Bayswater expects to commence operations on the newly acquired DUCs in Q2 2024. With this acquisition, the company now holds 30,000 acres in Weld County with 320 horizontal wells and daily production of approximately 30,000 BOED. Bayswater has a 30-person headquarters office in Denver, Colorado and a 20-person field office in Eaton, Colorado.

In addition to its DJ position, Bayswater holds a 46,000-acre operated position in the Northern Midland basin in Texas that is currently being developed under a continuous drilling program. Texas operations include a 15-person field office in Coahoma, TX managing operations for 120 producing horizontal wells and 32 DUCs. Operations are supported by a freshwater supply and recycling system, a saltwater gathering and disposal well system, an amine plant (completed in 2023 and operated by a wholly owned Bayswater subsidiary – Tejon Treating and Carbon Solutions), and an extensive oil gathering pipeline network directly connected to the Delek - Big Spring refinery.

Bayswater is a privately held oil and natural gas development company employing multiple best-in-class practices focused on reducing the air, land, and water impacts of their operations. Bayswater is committed to responsible energy development and the belief that the development of oil and natural gas resources and the stewardship of a pristine, sustainable environment are not mutually exclusive. To learn more, visit www.bayswater.us.

SOURCE Bayswater Exploration & Production, LLC