COVINGTON, La.–(BUSINESS WIRE)–Krewe Energy, LLC, (“Krewe Energy”) a privately held independent oil and gas exploration and production company based in Covington, Louisiana, announced today that it recently completed the acquisition of 100% of a Private Owner’s interest in and Operatorship of the Coquille Bay Field located in Plaquemines Parish, Louisiana.
The Coquille Bay Field is a vintage South Louisiana property which has been actively producing since the early 1950’s. The field is now being operated by Krewe Energy’s operating subsidiary, S2 Energy Operating, and efforts are currently underway to further optimize and increase production rates in the field. With this acquisition, Krewe Energy has meaningfully increased its daily oil production rate and achieved a sizeable step forward towards its goal of doubling the Company’s production rate by midyear 2017. In addition, the Coquille Bay Field offers Krewe Energy some unique synergies with the Company’s existing operations in their nearby Breton Sound 32 Field.
Krewe Energy continues to focus on the growth and further development of its existing asset base while also seeking additional acquisitions of mature assets within its core operating area of the Gulf Coast – South Louisiana oil and gas trend.
About Krewe Energy, LLC
Krewe Energy was formed in 2013 by its founders, Tom De Brock and Barry Salsbury, in partnership with Houston, Texas-based Sage Road Capital. Based in Covington, Louisiana, Krewe Energy engages in the acquisition, exploitation and development of oil and gas assets, with a specific focus on conventional production opportunities in South Louisiana.
For more information on the Company, please visit www.krewe-energy.com.