Bayswater Finalizes Significant Sale of DJ Basin Assets to Prairie Operating Co.

Bayswater Completes Sale of DJ Basin Assets

Bayswater Exploration and Production, headquartered in Denver, has finalized the sale of specific assets from the Denver Julesburg (DJ) Basin to Prairie Operating Co. The transaction, which involves both cash and stock components, is valued at approximately $603 million. This move represents a pivotal moment in Bayswater's two-decade-long history, showcasing their ability to navigate significant transactions while providing returns for their investors.

Steve Struna, the President and CEO of Bayswater, expressed gratitude to those involved in facilitating the deal, including their leadership team, Colorado staff, and legal advisors. He emphasized the achievement of selling high-quality assets that Bayswater has cultivated in Colorado for many years. The sale includes around 24,000 leased acres, 300 horizontal wells across 30 sites, which produce an impressive 27,500 barrels of oil equivalent per day (BOED), alongside nine newly drilled but incomplete horizontal wells and a saltwater disposal system operated by Bayswater.

Lynn Belcher, Bayswater's Chief Operating Officer, remarked that this agreement signifies the natural progression of their business model, paving the way for future development in the DJ Basin. Following this transaction, Bayswater will maintain operations of 70 horizontal wells generating about 18,000 BOED, which includes a nine-well pad currently under completion by Halliburton. The company, which has been active in the DJ Basin for 16 years, continues to affirm its commitment to Colorado and plans to expand its operations in the region moving forward.

Bayswater operates as a privately held oil and natural gas development company with active operations in Colorado and Texas. The organization has adopted numerous best practices aimed at minimizing the ecological impacts of their activities across air, land, and water. This commitment underscores Bayswater's belief that energy development and environmental stewardship can coexist effectively. The strategic vision of Bayswater is not only about extracting resources but also about responsibly advancing them while ensuring a sustainable environment for future generations.

For more information, visit Bayswater's Official Website.

As Bayswater continues its journey, this recent sale marks a major step while setting the stage for future initiatives and growth within the oil and natural gas sector. The successful completion shows the company's adaptability and dedication to reshaping its strategic direction in line with market demands and operational efficiency.

In light of this sale, it will be interesting to observe how Bayswater leverages its retained assets to drive future profitability and support its ongoing commitment to responsible energy practices. Stakeholders, investors, and industry watchers will undoubtedly monitor the developments to come from this seasoned player in the oil and gas landscape.