Bayswater Exploration Announces Major Asset Sale in DJ Basin to Prairie Operating Company
On February 7, 2025, Bayswater Exploration and Production, headquartered in Denver, made a significant announcement regarding the sale of its assets in the Denver Julesburg Basin (DJ Basin) to Prairie Operating Company, a move valued at around $603 million. This strategic transaction represents a culmination of years of effort by Bayswater's dedicated team, spearheaded by President and CEO Steve Struna. Under his leadership, Bayswater has been a notable player in the DJ Basin since 2009, where they built a strong reputation as a responsible operator within the energy sector.
The agreement includes approximately 24,000 acres of leased land, alongside 300 producing horizontal wells distributed over 30 production pads. Additionally, the transaction encompasses an impressive daily production capability of 25,000 barrels of oil equivalent per day (BOED), alongside nine newly drilled but not yet completed horizontal wells and a Bayswater-operated saltwater disposal system.
This facility aims to enhance operational efficiency while managing environmental impact, aligning with Bayswater's commitment to sustainable energy practices. According to Struna, this successful sale not only reflects the value of the company’s holdings but also illustrates their operational capabilities and contributions to the surrounding communities in Weld County.
Post-transaction, Bayswater will continue to maintain a presence in the DJ Basin with 70 horizontal wells producing around 18,000 BOED. The firm also has an active drilling rig working on their remaining assets. Furthermore, Bayswater possesses 50,000 acres in the Northern Midland Basin, Texas, which is currently under active development. This area features 140 horizontal wells producing around 20,000 BOED, contributing significantly to the company's growth trajectory.
"This sale is a pivotal part of our business strategy, allowing us to reposition our resources effectively for the next phase of growth," Struna expressed. The company’s approach prioritizes significant returns for investors while ensuring that responsible energy development remains at the core of its operations in Colorado.
Bayswater is a privately capitalized oil and natural gas development firm deeply committed to responsible development. The company adheres to best-in-class environmental practices, striving to minimize the impacts on air, land, and water during their activities. As the firm continues to shape its operations, it emphasizes that responsible resource development and environmental stewardship can indeed coexist.
In conclusion, this divestment is not only geared towards immediate financial returns but also sets the stage for Bayswater to optimize its resources and technological capabilities in a changing energy landscape. The company envisions a future where it can continue to contribute positively to the energy sector while promoting sustainable practices. To learn more about their operations and philosophy, visit www.bayswater.us.
The agreement includes approximately 24,000 acres of leased land, alongside 300 producing horizontal wells distributed over 30 production pads. Additionally, the transaction encompasses an impressive daily production capability of 25,000 barrels of oil equivalent per day (BOED), alongside nine newly drilled but not yet completed horizontal wells and a Bayswater-operated saltwater disposal system.
This facility aims to enhance operational efficiency while managing environmental impact, aligning with Bayswater's commitment to sustainable energy practices. According to Struna, this successful sale not only reflects the value of the company’s holdings but also illustrates their operational capabilities and contributions to the surrounding communities in Weld County.
Post-transaction, Bayswater will continue to maintain a presence in the DJ Basin with 70 horizontal wells producing around 18,000 BOED. The firm also has an active drilling rig working on their remaining assets. Furthermore, Bayswater possesses 50,000 acres in the Northern Midland Basin, Texas, which is currently under active development. This area features 140 horizontal wells producing around 20,000 BOED, contributing significantly to the company's growth trajectory.
"This sale is a pivotal part of our business strategy, allowing us to reposition our resources effectively for the next phase of growth," Struna expressed. The company’s approach prioritizes significant returns for investors while ensuring that responsible energy development remains at the core of its operations in Colorado.
Bayswater is a privately capitalized oil and natural gas development firm deeply committed to responsible development. The company adheres to best-in-class environmental practices, striving to minimize the impacts on air, land, and water during their activities. As the firm continues to shape its operations, it emphasizes that responsible resource development and environmental stewardship can indeed coexist.
In conclusion, this divestment is not only geared towards immediate financial returns but also sets the stage for Bayswater to optimize its resources and technological capabilities in a changing energy landscape. The company envisions a future where it can continue to contribute positively to the energy sector while promoting sustainable practices. To learn more about their operations and philosophy, visit www.bayswater.us.
Topics Energy）
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