About BĀSA

Leaders in the Oil & Gas industry for more than 35 years

BĀSA Resources, Inc. is a private oil and gas producer founded in early 1989 by Michael N. Foster, Jr. and Lary D. Knowlton. The Dallas based company, with monthly production of more than 345,000 BOE, ranks among the top 50 private oil producers in the United States. BĀSA currently owns and operates over 6,000 wells in more than 50 fields across Texas. In addition to operating in Texas, the company has historically acquired, operated and divested of wells in Oklahoma and Louisiana.

The firm’s primary strategic focus since inception has been the acquisition and development of proven producing oil and gas properties. BĀSA’s corporate strategy targets mature properties divested by larger oil and gas companies. Saddled by higher production expenses, large publicly held E&P companies have historically divested of their mature producing properties to fund capital intensive new ventures such as international exploration, offshore developments and more recently participation in resource plays. Prospective acquisition candidates for BĀSA are characterized by predictable decline curves, demonstrated stability in production, extended economic life, and recognizable upside potential. All of these factors combined with BĀSA’s lean management and operations structure contribute to the achievement of superior risk adjusted returns. BĀSA, as a lean private operator, does not carry the elevated overhead of larger oil and gas companies, thus lower development and per barrel lifting costs allow BĀSA to realize profitability from wells that have fallen out of favor with their prior owners. The transfer of ownership to BĀSA’s cost effective management and operations model has commonly resulted in a double digit percentage reduction in operating expenses attributable to an asset while improving production.

Behind Our Operations

BĀSA specializes in the recovery of oil and gas reserves from mature wells that require intensive operations such as secondary and tertiary recovery. These methods require a broad understanding of engineering, oilfield mechanics, and reservoir optimization. Increased and sustained production are most often acheived through a combination of these components. The firm’s employee base has millions of man hours employed in this area of the oil field and an average of over 20 years of oil and gas experience per employee. A unique characteristic of the firm’s personnel is that many of the field employees have been working on the same field for the majority of their careers and came to work for BĀSA when the properties were acquired.