Krewe Energy, LLC, ("Krewe Energy" or the "Company") a privately held
oil and gas company based in Covington, Louisiana, announced today that
it has completed the acquisition of all of the assets of S2 Energy, LLC.
The acquired assets are all located in South Louisiana and consist of 51
wells and associated production facilities across 10 fields in onshore,
inland marsh and state water locations. In addition to current
production, the assets contain an inventory of well recompletions, new
drill prospects and a field reactivation opportunity.
Krewe Energy was formed by Houston, Texas-based Sage Road Capital
together with Krewe Energy's founders, Tom De Brock and Barry Salsbury.
Krewe Energy will engage in the acquisition, exploitation and
development of oil and gas assets, with a specific focus on conventional
production opportunities in South Louisiana. Sage Road Capital, Mr. De
Brock and Mr. Salsbury jointly provided the equity capital to finance
the S2 Energy acquisition. Sage Road Capital has made an additional
capital commitment to the Company to support the further development of
the acquired assets and the acquisition of complementary oil and gas
Having successfully worked together since 2009, Salsbury and De Brock
will lead the management of Krewe Energy as the Managing Partners and
will continue to capitalize on their expertise in acquiring and
developing mature oil and gas assets in South Louisiana.
Mr. Salsbury stated, "We will use our substantial knowledge and
experience operating in South Louisiana to identify and acquire legacy
oil and gas assets and to unlock the significant remaining potential of
these fields. Our ability to operate efficiently, coupled with the
application of new technology, provide a unique advantage in our ongoing
exploitation and development efforts in this prolific trend. With the
financial and strategic support of Sage Road Capital, we look forward to
building a leading oil and gas company in South Louisiana."
Ben Stamets, Managing Partner at Sage Road Capital, commented, "Having
known Barry Salsbury and Tom De Brock for several years, Sage Road is
pleased to partner with them in the formation of Krewe Energy. This team
brings decades of experience maximizing the value of oil and gas assets
across South Louisiana. We believe there is a significant opportunity in
the ongoing development of Krewe Energy's asset base and the continued
growth of the Company through acquisitions. Management's experience and
network is uniquely positioned to capitalize on this opportunity."
About Sage Road Capital
Sage Road Capital a private investment firm focused on pursuing
opportunities in the North American oil and gas sector. Sage Road seeks
to partner with management teams and provide acquisition, development or
growth capital to companies engaged in the lower middle market upstream
segment, as well as to select midstream transactions. For more
information on Sage Road, please visit www.sageroadcapital.com.
Krewe Energy, LLC
Susan Meaux, 985-898-4912 x26