Michael De Voe Piazza, David Aaronson, Cody Carper, Ryan Cicero, Albert Jou
January 24, 2026
Bayswater Resources Fund III and York Tactical Energy Fund Form Joint Venture

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- Bayswater Resources and Bayswater Natural Resources Fund III have entered into a strategic joint venture with York Tactical Energy Fund (YTEF) through YTEF Drilling Capital, LLC
- YTEF will fund up to $125 million for the development of up to 63 horizontal oil and gas wells on Bayswater’s Weld County, Colorado acreage
- In return, YTEF will receive working interests and a share of revenues from the wells
- Willkie Farr & Gallagher LLP represented YTEF in the transaction.
Willkie represented York Tactical Energy Fund in the transaction. On December 9, Bayswater Resources and Bayswater Natural Resources Fund III (collectively Bayswater) and the York Tactical Energy Fund through its structured development capital strategy YTEF Drilling Capital, LLC (collectively YTEF), announced that they have formed a strategic joint venture. Under the terms of the agreement, YTEF will fund an undivided portion of up to 63 horizontal oil and gas wells located on six well pads for the development of Bayswater’s flagship Weld County, Colorado acreage position located in the volatile oil window of the DJ Basin. In exchange for funding a portion of the capital expenditures required to develop the joint wells, YTEF will receive an assignment of working interests entitling YTEF to receive a portion of the revenues from such wells. The joint wells are anticipated to be drilled and completed through the fourth quarter of 2020. YTEF anticipates that it will fund up to $125 million of capital expenditures relating to its participation in the joint wells. Bayswater is a Denver-based oil and natural gas development company with projects principally in Colorado, Texas, and Wyoming. YTEF is a private investment fund led by investment professionals at global private investment firm York Capital Management in partnership with energy asset management firm Millennial Energy Partners. YTEF was formed in December 2018 to pursue private middle-market opportunities in the global energy sector through a variety of investment strategies. Willkie represented YTEF in the transaction. The Willkie team was led by partner Michael De Voe Piazza and associate David Aaronson, and included partners Cody Carper and Ryan Cicero and associate Albert Jou.
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Michael De Voe Piazza, David Aaronson, Cody Carper, Ryan Cicero, Albert Jou
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