Bayswater to sell a portion of its DJ Basin properties

Denver, CO-based Bayswater Exploration & Production has entered into a definitive agreement to sell a portion of its oil and natural gas properties located in the DJ Basin to Extraction Oil & Gas LLC for an undisclosed amount. The transaction is expected to close on or before September 30, 2016, and is subject to customary closing conditions.

Extraction Oil & Gas, established in December 2012, is a private equity-backed, domestic energy company focusing on the exploration and production of oil and gas reserves in the Rocky Mountains.

Following the closing, Bayswater will continue to operate a significant portfolio of oil and gas properties in the DJ Basin. According to the company website, at the time the deal was announced, Bayswater operated approximately 3,500 boe/d of production, most of which is concentrated in the DJ Basin's Wattenberg Field.

Bayswater is an oil and gas development company that was established in 2004.

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