Oil & Gas Project

Lexam’s Baca Grant, oil and gas project along the Rocky Mountains is situated on 100,000 acres in south-central Colorado.  Lexam owns 75% of the project with the remaining 25% being owned by one of the world’s largest oil and gas producers, ConocoPhillips.

Lexam's discovery of a new Cretaceous sub-basin in the mid-nineties, containing rocks that are prolific producers of oil and gas in the Rocky Mountain region, changed the outlook for the project. The Baca Grant has seen limited oil and gas exploration. Previously, geologists believed the Baca Grant did not contain the needed source rock for oil and gas production, as seen in other large producing basins in Colorado and the surrounding states, like the San Juan Basin and the Raton Basin.

The Baca Grant is a large scale exploration program. The majority of exploration companies could not undertake such a project due to 1) high costs 2) high risk 3) required skills set.  Lexam is fortunate to have strong financial backing, a willingness to accept very high risk projects and a skilled team working in Colorado.