About Bass Energy Production Company
Below, you will find an overview of BEP's history,
methodologies, goals and objectives:
- BEP has developed an array of opportunities in various states of development. It utilizes a multi-discipline peer review process to review technical quality and proper risk assessment.
- In the past 29 years, company personnel have generated over 200 oil and gas projects resulting in over 1,482 wells drilled worldwide, maintaining a seventy-percent (70%) success rate over this period of exploration.
- BEP's personnel were the first to develop short radius horizontal techniques in reef complexes.
- The company has built strategic relationships with several organizations including large independents: Mitchell Energy Corp., Apache Energy Corp., Dallas Operating Corporation, Endeavor Resources, Inc., Keystone Exploration, Inc., plus many high tech seismic companies and industry consultants. Through these relationships the company has constructed a solid foundation from which to grow.
- BEP has an extensive database of information (well logs, 2D seismic, 3D seismic, well files, and geochemical samples) as well as a large inventory of projects (in all phases of development).
- The type of projects the company pursues is primarily oil and gas plays with high probabilities of success. In the last eight (8) years, emphasis has been focused primarily in the development of horizontal techniques in order to extract commercial quantities of oil and gas from shale systems within the lower 48 states.
- The company's focus is to integrate regional 2D and 3D seismic data with their geological and engineering knowledge while exploring for and exploiting commercial quantities of oil and gas within their core area of expertise.
BEP's business strategy is to increase the value of the company by:
- Exploring and exploiting "lower risk" commercial natural gas and oil reserves in select regions of Montana, West Virginia, Southern Louisiana, Texas, north central Arkansas and the Gulf Coast.
- Managing risk dollars (on third-for-quarter type deals which include lease bonuses, seismic acquisition and first well dry hole costs, etc.) by leveraging knowledge and information to partners, whenever possible and appropriate.
- Partnering with existing operators with strong and successful engineering staff. The operating partner will be technically proficient, safe and low cost. This will allow the company to focus on its strengths of exploring and developing projects without the need to build up a staff of field operations personnel.
- Holding general and administrative costs to a minimum by selectively outsourcing specific business functions.
BEP plans to build a sustainable rate of growth in revenues, earnings and return capital over the next several years. As of November 1, 2011, the company's current portfolio consists of:
BEP intends to monetize existing assets through exploration activities including:
- Twenty-one (21) Mississippian and Caddo Reef Projects located on the Bend Arch in north central Texas. Each project is defined by over 400 square miles of 3D seismic.
- 51,000 acres of 3D seismic along the Upper Tuscaloosa Trend in Louisiana. Development of the Jefferson Island Salt Dome project is expected to be completed by the summer of 2012.
- Forty (40) Niagaran Reef projects along the Northern and Southern Reef Trends in Michigan.
- Twenty-five percent (25%) of 162,000 acres in the Fayetteville Shale Play in north central Arkansas.
In addition, the company plans to expand its current asset base through strategic acquisition, farm-ins and lease purchases. To raise capital to fund growth the company plans to:
- Within the next two (2) years cause to drill and earn interest in 21 projects in north central Texas.
- Participate in 175 wells in the Exshaw Shale Alberta Basin.
- Purchase leases and acquire 30,000 acres of 3D seismic in southern Louisiana.
- Review 3D Seismic Program over Jefferson Island Salt Dome, Iberia Parish, Louisiana. Lease 444 acre tract and drill four (4) Miocene tests.
- Review newly acquired 51,000 acres of 3D seismic in east Feliciana Parish, Louisiana, along the Chalk and Upper Tuscaloosa Trend.
- Develop and drill 10 high-grade Niagaran Reef projects using short radius horizontal techniques.
As a result of this activity, BEP anticipates recovering approximately 150 BCF of gross natural gas reserves and eight (8) million barrels of oil.
- Raise capital through private placements with large and small industry partners and to find continued growth acquiring leases, data, drilling, etc.
Striving for American energy independance one well at a time!