Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Krewe Energy Completes Acquisition of Assets of S2 Energy, LLC

10/09/2013 | 08:06am US/Eastern
Recommend:
0

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 fields.

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
Susan@krewe-energy.com


© Business Wire 2013
Recommend :
0
React to this article
Latest news
Date Title
10m ago BANK OF AMERICA : In Light of Bank of America Decision to Close Branches in Hartford's North End, Murphy Calls on Bank to Reconsider
15m ago GLOBUS MARITIME : July 25, 2014 - Globus Maritime Announces Annual Meeting of Shareholders
35m ago BANK ALFALAH : Warid Telecom and Bank Alfalah launch 'Mobile Paisa'
37m ago FBR : First phase: Only 17,000 tax evaders file returns
37m ago FBR : Govt may bring over 17,000 evaders under tax net
37m ago HUAWEI TECHNOLOGY : The telecom race: Huawei signs tablet deal with Inovi Technologies
37m ago SHARIAH COMPLIANT : EFU insurance moves onto Takaful business
40m ago CESAR : Brazil goalkeeper Julio Cesar returns to Queens Park Rangers after loan to Toronto FC
46m ago FDA FOOD AND DRUG ADMINISTRATION : Carmel Food Group Announces a Voluntary Recall of One Code Date of Mislabeled Butternut Squash Ravioli Due to Undeclared Allergens
1h ago NETSOL TECHNOLOGIES : Gainey McKenna & Egleston Announces They Have Filed a Class Action Lawsuit Against NetSol Technologies, Inc. -- NTWK
Latest news
Advertisement
Hot News 
EUROPLASMA : Annual Shareholders Meeting of 1st September, 2014
CHINA COMMERCIAL CREDIT : Issues Update on Recovery of Loan Guarantee Payments
DOTDIGITAL : Non-Executive Chairman's Trust Sells Shares (DIRECTOR DEALINGS)
GRENKELEASING : Consolidated Group net profit rises 40% in the first half of 2014 and is at the upper end of our full-year expectations (DGAP News)
NEWPARK RESOURCES : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K)
Most Read News
4h ago HILLSHIRE BRANDS : Tyson Foods to shut three factories, cut 950 jobs
4h ago FORD MOTOR : FBI investigates Ford engineer after listening devices found
3h ago AMAZON : far-reaching ambitions, lack of profits, unnerve investors
5h ago PAR PETROLEUM : Announces Conference Call to Review Pending Acquisition and Rights Offering
2h ago U.S. sets anti-dumping duties on solar imports from China, Taiwan
Most recommended articles
2h agoDJSTARBUCKS : Metro Money : Understanding the Economics of Iced Coffee
2h ago APPLE : iPhones allow extraction of deep personal data, researcher finds
2h ago WALL ST. WEEK AHEAD : Even modest GDP bounce may support market
2h ago Potential Argentine debt default looms as July 30 approaches
2h ago U.S. sets anti-dumping duties on solar imports from China, Taiwan
Dynamic quotes  
ON
| OFF