In large Dutch oven, cook the bacon over medium heat until most of the fat has rendered. Reserve a few bits of bacon for garnish. Spoon off all but one tablespoon of bacon fat. Keep the bacon fat in a clean container in your freezer, and use it for other things like roasting potatoes, eggs, chickens, etc.

Add vegetables to pot. Let them cook until vegetables have softened and onion is translucent, about 5-7 minutes. Add peas and toss with vegetables until evenly coated with bacon fat. Add bay leaves, stock, and water. Bring to a boil, then reduce heat. Let simmer until peas are tender, about 45-60 minutes. Periodically skim the top of soup of grease. If soup seems too thick, thin out with more stock or water.

When peas are tender, you can leave the soup alone if you want it chunky. I like to purée the soup so it is creamier. Just stick an immersion blender into soup and blend as much as you like. You can also transfer half of soup to regular blender or food processor, then add the blended soup back to the unblended half.