BWAB invests in oil and gas upstream, producing oil and gas properties with upside potential in further exploration and development of existing properties. We acquire working interests and mineral/royalty interests in properties on an operated and non-operated basis. We hold Ownership Interests in oil and gas pipelines, gathering systems, storage and treatment facilities. Our acquisition focus is on U.S. oil and gas basins that show significant opportunities for future growth and consolidation, targeting assets that provide long-life, high-quality production with relatively predictable decline curves and low-risk development opportunities. We evaluate our acquisitions based on decline profile, reserve life, operational efficiency, field cash flow, and development costs.