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
<1m ago GLUSKIN SHEFF + ASSOCIATES : Announces Fourth Quarter and Year End Fiscal 2014 Results and Conference Call
1m ago ELY GOLD & MINERALS : and Solitario Completes Environmental Assessment Process on its Mt. Hamilton Gold Project, Nevada
1m ago GOVERNMENT OF BRITISH COLUMBIA : BC Coroners Service Confirms Identity in Rock-Climbing Incident
2m ago Fitch to Rate WFRBS Commercial Mortgage Trust 2014-C22 Pass-Thru Certificates; Presale Issued
3m ago Halliburton to settle U.S. Gulf spill claims for $1.1 billion
3m ago NHALE : Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits (form 8-K)
4m ago AIRBUS : ACJ319 offers largest cabin at Jet Expo
4m ago AIRBUS : Hydrogen South Africa (HySA) Systems, The National Aerospace Centre, and Airbus to research use of fuel cells for commercial airliners
4m ago AIRBUS : First Royal Air Force A400M makes its maiden flight
4m ago AIRBUS : Alvaro Beteta Meredith Appointed as Head of Communications for Airbus Helicopters UK
Latest news
Advertisement
Hot News 
BANCO ESPIRITO SANTO : Espirito Santo debt attracts potential buyers at 2 percent of face value
CORRECT : Dixons Carphone Confirms Long Term Deal With Vodafone
EXELIXIS : Announces Results from the COMET-1 Phase 3 Pivotal Trial of Cabozantinib in Men with Metastatic Castration-Resistant Prostate Cancer
TMM REAL ESTATE DEVELOPMENT : Sonyachna Brama residential complex construction status update
COMPUWARE : to be Acquired by Thoma Bravo
Most Read News
1d ago FORMFACTOR : Raises Third Quarter Guidance Range
1d ago STUART OLSON : announces sale of Broda Construction
13h ago MANCHESTER UNITED : Van Gaal Speaks on Di Maria Injury
1d ago MEDICINOVA : to Present Data on MN-001 (tipelukast) for the Treatment of Idiopathic Pulmonary Fibrosis (IPF) During the 18th International Colloquium on Lung and Airway Fibrosis (ICLAF)
1d ago EXELIXIS : Announces Results from the COMET-1 Phase 3 Pivotal Trial of Cabozantinib in Men with Metastatic Castration-Resistant Prostate Cancer
Most recommended articles
1d agoDJZambia Copper Miners Say Crippled by Unpaid $600 Million Tax Refund-Mines Body
4d ago S&P 500 edges up to set new record; best month since Feb
2m ago Halliburton to settle U.S. Gulf spill claims for $1.1 billion
4m agoDJAnother American Doctor Infected With Ebola
5m ago GE, IMI, BUYOUT FUNDS LINE UP BIDS FOR ITALY'S PETROLVALVES : sources
Dynamic quotes  
ON
| OFF