Steve Struna of Bayswater Honored as 'Wildcatter of the Year'

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Bayswater Exploration & Production (Bayswater)

Nov 04, 2024, 14:57 ET

DENVER, Nov. 4, 2024 /PRNewswire/ -- Western Energy Alliance honored Steve Struna, president and chief executive officer of Bayswater Exploration and Production, LLC, with the Wildcatter of the Year award in recognition of his 40 years of achievements in business and community engagement. As the 39^th recipient of the Wildcatter award, he was formally celebrated by leaders in the oil and natural gas industry at the Wildcatter of the Year gala on Saturday, November 2^nd.

For more than 40 years, Struna has been an industry leader. Before founding Bayswater 20 years ago, Steve's experience included overseeing BP/Amoco's U.S. Gulf Coast operations, Central Alberta Midstream joint venture with Chevron in Canada, and managing Amoco's Central North Sea development efforts. Since starting Bayswater in 2004, Steve and his partners have managed assets in California, Colorado, Texas, Wyoming, Montana, and other locations across the United States.

"I am honored and humbled to be recognized by my peers as this year's Wildcatter," said Steve Struna. "Over the years, I have worked with many of the previous recipients of this prestigious award, learning a lot from their leadership and friendship. It's truly special to me to receive this year's Wildcatter of the Year."

"Twenty years ago, Steve took a risk by deciding to build on his experience in engineering, operations, and finance and forming Bayswater. Since then, he's proven to be an innovator and true leader," said Kathleen Sgamma, president of the Alliance. "Steve embodies everything the Wildcatter award stands for in terms of operational excellence and caring for the community. Steve and his team are recognized as industry leaders in sustainable energy production that protects the environment and surrounding communities."

Founded in 2004, Bayswater is a Colorado-based oil and natural gas exploration and production company that owns and operates assets principally in the Denver-Julesburg (DJ) Basin in Colorado and the Permian Basin in Texas. Bayswater is a Registered Investment Advisor and privately capitalized through a series of Natural Resource Funds that Steve and his partners raise primarily from endowments, foundations, pension funds, and family offices. The company employs 74 people, with a corporate office in Denver and field offices in Coahoma, Texas, and Eaton, Colo. Currently, Bayswater produces 65,000 barrels of oil equivalent per day (BOE/d) from approximately 80,000 net operated acres in the DJ Basin in Colorado and the Midland Basin in Texas. It also operates a large gas gathering and treating complex in the Midland Basin through Tejon Treating and Carbon Solutions, a wholly owned subsidiary.

Driven to improve environmental and social outcomes for its operations, Bayswater was the first oil and natural gas company in the DJ Basin to commit to continuously monitor emissions. Struna has built a company culture founded on operational excellence and technological innovation, which has positioned Bayswater as a leader in continually improving the sustainability of its operations. With the goal of improving air quality and operating in a responsible manner, Struna has given regulators, local communities, neighbors, and investors confidence that his operations meet the highest environmental, health, and safety standards.

Struna and the Bayswater team are active in many philanthropic projects, including the Weld Food Bank, Weld County Fair, the (former) Denver Bridge Project, and the Colorado Science Fair. Struna and his wife Susan recently chaired the Annual Gala for the Denver Center for the Performing Arts. He sits on the Boards of the Alliance, Colorado Oil and Gas Association, Coloradans for Responsible Energy Development, and Protect Colorado. He is a registered professional engineer and a member of the Society of Petroleum Engineers and Colorado Concern.

"Steve's leadership style is to lead from the front, not behind the desk, particularly when it comes to serving the community," continued Sgamma. "He's known for rolling up his sleeves and working alongside his employees, whether it's on the company's operational sites or at the food bank. Steve empowers his employees by operating under an equity ownership structure and that enables them to directly invest in the company, which is then 50 percent matched by the management team. As a result, 100 percent of the employees are direct owners and 65 percent directly invest in Bayswater's operations. Additionally, Steve encourages employees to enrich the lives of others by doubling their financial contributions through the Bayswater Personal Match Program to charities, schools, and nonprofits of their choosing."

Struna received a Bachelor of Science in chemical engineering from Columbia University, a Master of Science in petroleum engineering from Colorado School of Mines, and a Master of Business Administration from Harvard Business School.

Bayswater is a privately held oil and natural gas development company committed to responsible energy development and the belief that the development of oil and natural gas and the stewardship of a pristine, sustainable environment are mutually attainable. Learn more at www.bayswater.us.

Western Energy Alliance stands as a credible leader, advocate, and champion of industry in the West, working with a vibrant membership base of independent oil and natural gas companies for over 50 years. Our expert staff, active committees, and committed board members form a collaborative and welcoming community of professionals dedicated to abundant, affordable energy and a high quality of life for all. Learn more at www.westernenergyalliance.org.

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