Operations
 

BASA seeks to make prudent purchases of existing reserves that will allow for significant yields over a period of 20+ years through:

  • Acquiring oil and gas properties with significant development and workover opportunities;
  • Operating on a low overhead cost structure;
  • Enhancing the value of the properties through: (i) workovers, (ii) developmental drilling, (iii) improved operations, and (iv) secondary and tertiary recovery methods; and
  • Utilizing advancements in technology to improve recovery and/or finding new reserves.

BASA’s operations strategy encourages the sharing of well information amongst colleagues at several major and independent oil companies. This practice has led not only to increases in production, but has also produced an expanded network of industry partners that have accounted for many non-publicized acquisitions. These negotiated purchases have resulted in a discounted purchase price when compared to publicized open auctions. Once acquired, BASA begins developing the assets toward their full potential. This process focuses on the ability to enhance the production and the economics of the properties through workovers, re-completions, and optimization of secondary and tertiary recovery operations including:

  • Replacement of worn equipment including rods, tubing, valves, and/or pumps;
  • Completion of bypassed pay zones;
  • Re-frac or stimulate using more modern techniques; and
  • Pump changes to right size artificial lift equipment.

The ability to take advantage of these acquisition and developmental opportunities is largely a result of BASA’s experienced employee base and low overhead costs. The average BASA employee possesses over 20 years of experience in the oil and gas industry, which has been a driving factor in the reduction of operating expenses and the increase of recoverable reserves. The personnel in the field, working hand in hand with management, can identify and respond to developmental opportunities and operational inefficiencies left by previous operators in order to optimize asset value. In essence, the reserves are made more economical as a result of and the fundamental difference in operations and prioritization between a large company and the leaner independent, such as BASA.