Bay Energy Inc. (TSXV: EBY) is an emerging oil and gas producer headquartered
in Calgary, Alberta, Canada with production properties in South Texas, USA. It
was founded in 1998 as a research and development entity to develop the
patented Lateral Drainhole Drilling Technology. In 2005, the Company ended its
R&D efforts and transitioned to exploration and production of natural gas
in Central Alberta. When natural gas prices collapsed in 2009, the Company had
established a significant land position in Alberta with over 50 drilling
locations and had grown production to over 200 boe/day. However, due to
instability in natural gas prices, Emerald Bay began to divest its Canadian gas
assets and pursue South Texas oil opportunities in 2010
Emerald Bay’s strategy to expand its energy portfolio to include natural gas, oil and electrical power generation will enable the Company to keep up with expanding energy demand and support its future.
- The newly constructed natural gas-fired electrical power generation plant enables Emerald Bay to create revenue streams from the original coal bed methane natural gas wells which are currently uneconomical to produce. The power plant is fully operational and has begun selling electricity into the Alberta power pool.
- Expanding oil drilling operations in South Texas and aggressively assembling a solid land position across multiple prospects.