COVINGTON, La.–(BUSINESS WIRE)–Krewe Energy, LLC, (“Krewe Energy” or the “Company”) a privately held oil and gas exploration and production company based in Covington, Louisiana, announced today that Coral Reef Capital has made a new investment in Krewe to recapitalize the Company and further support its growth. Financial terms of the transaction were not disclosed.
Barry Salsbury, Managing Partner of Krewe Energy, commented, “With this transaction, we have created an exceptional partnership with two well-respected and experienced financial sponsors and positioned the Company with a strong balance sheet and access to additional growth capital. This investment, coupled with our successful strategy of acquisition and development around our current operational footprint in South Louisiana, will allow us to aggressively pursue additional accretive growth opportunities. We are proud of our accomplishments since our formation in 2013 and excited to continue our successes into 2017 and beyond.”
Jared Powell, a Partner at Coral Reef Capital, commented, “Coral Reef is thrilled to partner with such a high quality group. Barry, Tom and the rest of the Krewe team have consistently demonstrated their ability to create value in the Gulf Coast across market cycles. We expect to continue deploying both acquisition and development capital to expand the business together.”
About Krewe Energy, LLC
Krewe Energy, LLC is a privately held independent oil and gas company headquartered in Covington, Louisiana. The Company is engaged in the acquisition, exploitation and development of producing oil and gas fields, with a specific focus on conventional production opportunities within the shallow State waters of the Gulf of Mexico, inland marsh and onshore areas of South Louisiana and the greater Gulf Coast region. Krewe Energy operates and owns a 100% working interest in the majority of its existing assets. The Company was formed in 2013 by its founders, Tom De Brock and Barry Salsbury, in partnership with Sage Road Capital. For more information, please visit www.krewe-energy.com.
About Coral Reef Capital
Coral Reef Capital is a New York-based private investment firm that focuses exclusively on private equity investments in the natural resources sector, including oil & gas exploration and production, metals & mining, and related services. For more information, please visit www.coralreefcapital.com.
About Sage Road Capital
Sage Road Capital is a Houston, Texas-based private equity investor in the upstream oil and gas sector. Founded in 2012, Sage Road targets lower middle-market investment opportunities in North America, with a primary regional focus on Texas, Oklahoma and the surrounding states. For more information, please visit www.sageroadcapital.com.