Cook bacon in a soup pot until crispy. Remove bacon.
Add onion to the pan and cook in the bacon grease until tender.
Add the clams, the reserved liquid, bacon, water, potatoes, salt, and pepper to the cooked onions. Cover and cook on low for 15-20 minutes, or until the potatoes are fork tender.
Stir in milk and butter, cook until heated through.
Notes
*The Nutritional Facts that have been calculated on this recipe are only estimates.