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

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
React to this article
Latest news
Date Title
04:35p ALNO : Die ALNO AG schließt nächsten Schritt ihrer Neupositionierung ab (DGAP News)
04:31p SERCO : Escaped Violent Convict 'Has Fled To Spain'
04:27p CABOT OIL & GAS : Donates Scholarship Money To NCCTC
04:18p EFD EUROPE OF FREEDOM & DEMOCRACY : What's exported is done by drivers who earn 500€/month, it's more than slavery!
04:15p AIRBUS : sees 'several hundred' orders at Paris Airshow
04:11p ALNO ALNO VERKAUFT IMPULS KÜCHEN GMBH AN STEINHOFF MÖBEL A : ALNO AG: ALNO AG verkauft Impuls Küchen GmbH an Steinhoff Möbel Holding AG (DGAP Adhoc)
04:03p G 20 OF TWENTY FINANCE MINISTERS AND CENTR : Second Investment and Infrastructure Working Group Meeting held in Singapore
04:01p SCHLUMBERGER : OneSubsea Receives Offshore North Africa Gas Project Contract
04:01p VILKYSKIU PIENINE : Unaudited financial results of Vilkyskiu pienine, AB for the first three months of 2015
04:01p AFFIMED NV : ASCO Data Demonstrate Consistent Potency of NK-Cell-Engaging Combination Therapy with Checkpoint Modulators
Latest news
Advertisement
Hot News 
IMMUNODIAGNOSTIC SYSTEMS HLDGS : Expects Further Revenue Fall In Current Year
HERON THERAPEUTICS : DE/ : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)
ESSENDEN : 29 May 2015 - Rule 2.6 (c) - 2nd Extention
CLEARSTAR : Chairman Barney Quinn Buys Shares (DIRECTOR DEALINGS)
MINCO : 2015 Q1 MD&A Report
Most Read News
05/29 UGI : completes $465 million acquisition of French liquefied petroleum gas distribution business (BRIEF)
09:40a INTERNET OF THINGS : DHL and Cisco release a trend report detailing IoT
05/29 NATURALLY SPLENDID ENTERPRISES LTD : Naturally Splendid Launches Bulk Ingredient Division
05/29 EXCLUSIVE : Stifel in lead to buy Barclays' U.S. wealth unit - sources
03:43a MANCHESTER UNITED : Man Utd to Sign Reus, Higuain, Gaitan in £113mln Triple Transfer Deal
Most recommended articles
04:15p AIRBUS : sees 'several hundred' orders at Paris Airshow
01:27pDJLOCKHEED MARTIN : Correction to Pentagon Seeks Backing For Fighter Contract Story Friday
09:46a EU plans legal challenge against Germany's road toll-Die Welt
07:47a GREECE OPEN TO COMPROMISE TO SEAL DEAL THIS WEEK : interior minister
06:09a EFFECTS OF POTENTIAL GREEK DEFAULT FOR BANKS NOT CLEAR : ECB's Constancio