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Bayside Petroleum Company, Inc. is an aggressively managed energy exploration, development and production company in the process of building oil & gas reserves and production in some of the most prolific hydrocarbon bearing regions of the United States. The Company specializes in the profitable business of reworking & re-completing ‘marginal’ oil & gas wells located in the thousands of mature oil & gas producing fields across much of the United States. The Company’s management team has a proven record of success in the industry, and intends to foster rapid corporate growth through its ability to identify, acquire interests in, and rework oilfields that offer exceptionally attractive risk/reward parameters.
The Company applies its knowledge, experience and effective well-remediation technologies to achieve higher production volumes, longer well life, and more-efficient recovery of the proven and available oil and gas reserves in the fields/projects in which it has acquired an ownership interest. By acquiring interests in a growing number of selected projects in various regions, BYSDE is diversifying its exposure and effectively minimizing risk as it pursues corporate growth and value enhancement to the benefit of all stakeholders.
420,000 Marginal Wells in the U.S.A. add up to a Lot of Oil & Gas! We believe that the proven reserves contained in aging oil & gas fields represent a key early step in reducing the nation’s current dependence on imported oil. Marginal wells produced more than 335 million barrels of oil in the United States in 2006. That's equivalent to more than 60 percent as much as the United States imports annually from Saudi Arabia and reworking of many of these wells can dramatically enhance their production volume!
“With approximately 20 percent of American oil production and 10 percent of American natural gas production coming from marginal wells, they are America’s true strategic petroleum reserve.”
… Barry Russell, President and CEO of the Independent Petroleum Association of America.
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