Denver-based Bayswater Exploration and Production continues to hold 50,000 acres in northern Midland Basin under active development after a recent sale of assets in Denver Julesburg Basin. The sale to Prairie Operating announced Feb. 7 was a cash-and-stock deal of 24,000 leased acres valued at $603 million.
Bayswater’s assets in Midland Basin include 140 horizontal wells producing about 20,000 boed, a large saltwater disposal system, and Tejon Treating and Carbon Solutions. Bayswater is a privately held oil and natural gas development company with operations in Colorado and Texas. Lynn Belcher, COO and executive vice president, told Midland Reporter Telegram that Bayswater will continue its same activity level and capital profile in west Texas. He said the company will bring online and complete wells in Howard and Mitchell counties and “have a rig running by April with a continuous drilling program.”
The divested DJ Basin assets include 300 producing horizontal wells on 30 pads with production of 25,000 boed and a Bayswater-operated saltwater disposal system.