Krewe Energy, LLC, a Covington, La.-based independent oil and gas exploration company has completed a 100% acquisition of Castex Energy’s interest in the Lapeyrouse Field, the company said on Jan. 25.
In concurrence with this acquisition, Krewe Energy purchased additional non-operated working interests in the Lapeyrouse Field, broadening the company’s assets within the area.
Production has actively taken place in Southern Louisiana’s Lapeyrouse Field ever since the 1940s and as a result, the field boasts a cumulative production to date of more than 600 billion cubic feet of gas equivalent.
Krew Energy said that the field will now be operated by S2 Energy Operating, an entity of Krewe Energy, which has already started preliminary well-work to maximize the field’s production rates.
Additionally, Krewe Energy has acquired Castex Energy’s interest in the Little Temple Field, which is located in Jefferson Parish, Louisiana.
Krewe Energy said it 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 South Louisiana oil and gas trend.
The company was founded by Tom De Brock and Barry Salisbury in 2013 in cooperation with Sage Road Capital, a private equity firm based in Houston. Krewe Energy noted that the company is actively in search of acquisition opportunities located within its main area of focus in Southern Louisiana.
Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.