Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Krewe Energy Completes Acquisition of Assets of S2 Energy, LLC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/09/2013 | 02:06pm CEST

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
[email protected]


© Business Wire 2013
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
04:27p Unannounced, new Russian passenger plane completes maiden flight
04:27p COMPANIES ARE GEARING UP FOR DIGITAL CHANGE : Pony Ma
04:22p BAHRAIN ISLAMIC BANK B S C : Tamkeen, BisB launch BD20m portfolio
04:21p INTERNATIONAL CONSOLIDATED AIRLNS : British Airways says restarts flights from Gatwick and Heathrow
04:17p Unannounced, new Russian passenger plane completes maiden flight
04:17p INTERNATIONAL CONSOLIDATED AIRLNS : British Airways flight from Muscat to London delayed
04:07p ROCKY MOUNTAIN CHOCOLATE FACTORY : Corpus Christi native plans sweet business venture
04:05p SUPPLY PROBLEMS HIT PRODUCTION AT BMW : Focus
04:01p INGEN TECHNOLOGIES : Dynamics Announces Completion of All Core Functionality for Aido Home Robot
04:01p Sirius Veterinary Orthopedic Center of Omaha Offers Specialized Arthroscopic Surgery for Dogs
Latest news
Advertisement
Hot News 
8.47%SPIRAX SARCO ENGINEERING : Sarco to buy thermal tech firm Chromalox for $415 million
-4.04%BA and Iberia plan third-party booking surcharge, Amadeus shares hit
10.46%RESTAURANT : gets off to stronger start in 2017 amid turnaround
3.25%Fosun, others eye Australia's Origin Energy gas assets worth $1.5 billion - sources
-4.92%SUN PHARMACEUTICAL INDUSTRIES : Pharma 4Q Profit Falls 13.6%
Most Read News
10:17a Unannounced, new Russian passenger plane completes maiden flight
05/27 INTERNATIONAL CONSOLIDATED AIRLNS : British Airways outage has not canceled RDU flight to London; fliers should check status
05/27 DOHA BANK : branch announces Al Dana Millionaires
05/27 GENERAL MOTORS : Detroit Free Press Susan Tompor column
05/27 ENCANA : Is it the end of the slump? Official advises caution
Most recommended articles
05/22 NOBLE : shares tumble after S&P ratings downgrade
10:27a Unannounced, new Russian passenger plane completes maiden flight
10:05a SUPPLY PROBLEMS HIT PRODUCTION AT BMW : Focus
08:47aDJFor Hotels, There's No Room Left for Online Travel Agencies
07:15aDJLuxury Fashion Brands Start to Sell on China's WeChat Messaging App