In a large oven safe pot or Dutch oven, combine soaked beans, 2 cups of the reserved cooking liquid, onion, ketchup, brown sugar, molasses, salt, mustard, mesquite powder, pepper, bay leaf, and bacon. Mix well. It may seem very loose but don’t worry. Cover and bake at 300 degrees for 5 hours or until the sauce has thickened to desired consistency. Stir occasionally and add more of the reserved cooking liquid if needed during cooking time.