Bayswater, York Tactical Energy Fund form DJ basin development JV

Bayswater Resources and Bayswater Natural Resources Fund III, Denver, and the York Tactical Energy Fund, through YTEF Drilling Capital LLC, have formed a joint venture under which YTEF has committed to fund an undivided portion of up to 63 horizontal oil and gas wells on six well pads for the development of Bayswater’s Weld County, Colo. acreage in the volatile oil window of the DJ basin.

The investment will fund the drilling and completion of the joint wells targeting the oil-rich Niobrara A, B, C, and Codell stacked-pay intervals in accordance with a mutually agreed development plan. In exchange for funding up to $125 million for development, YTEF will receive an assignment of working interests. The joint wells are anticipated to be drilled and completed through the fourth quarter of 2020.