Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  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

© Business Wire 2013
React to this article
Latest news
Date Title
12:05a ZILLOW : US home rental prices up 4.3 per cent in June; momentum ticks down in NYC, LA and DC
12:05a ALLIED ELECTRONICS : NAPW Inducts Claudia A. Ramirez, Executive Administrative Assistant to the President and CEO, Allied Electronics, Into its VIP Woman of the Year Circle
12:03a MATSON : agrees to $15.4M settlement for 2013 molasses spill (BRIEF)
12:02a BARCLAYS : *rpt/s&p capital iq raises barclays price target to 290 (260) pence - 'hold'
12:02a AARP : Celebrates Medicare's 50th Anniversary
12:01a CWT : Earns Fab 50 Spot For Third Consecutive Year, Adds To Recent Forbes Global 2000 Recognition
12:01a AUSTRALIA AND NEW ZEALAND BANKING : ANZ appoints Alan Roch Head of Debt Syndicate, Asia Pacific
12:01a Branded Content Scores Big With Consumers in Multiple Markets
07/30 Patent Issued for Hovercraft without Lift Fan
07/29 SK HYNIX : Patent Issued for Fine Pattern Structures Having Block Co-Polymer Materials and Methods of Fabricating the Same
Latest news
Hot News 
RUBICON PROJECT : 07.28.2015 - AdExchanger
Twitter Shares Fall After Report Revives User Base Questions
HORIZON GLOBAL : Subsidiary to Receive Approximately $1 Million in Settlement of Patent Dispute
BUFFALO WILD WINGS' : stock shoots up despite tepid earnings report
WOLTERS KLUWER : Financial Services Helps Lenders Educate Consumers about Variations in TRID Disclosure Documents
Most Read News
07/29 Patent Issued for Electronic Front Derailleur
07/29 EQUITY ALERT : The Rosen Law Firm Files Securities Class Action Lawsuit Against Advanced Drainage Systems, Inc. – WMS
07/29 Patent Issued for Projection Display Apparatus and Control Method Therefor
07/29 Patent Issued for Receiver Circuit
Most recommended articles
07/29 Uber launches car leasing unit, makes entry into financial services
07/29 GBP/USD TECHNICAL ANALYSIS : Bounce Capped at Range Top
07/29 USD/CHF TECHNICAL ANALYSIS : Move Above 0.97 Signaled
07/29 EUR/GBP TECHNICAL ANALYSIS : Sellers Aim Below 0.70 Mark
07/29 USD/CAD TECHNICAL ANALYSIS : Pullback Stalls at Support