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COVINGTON, La., Feb. 21, 2018 -- 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 successful drilling and completion of its Vulcan Prospect - Kirchhoff Land, LLC #1 well - located in the heart of Krewe’s existing Lapeyrouse Field in Terrebonne Parish, Louisiana.
The Kirchhoff Land #1 was drilled as a directional well to a total measured depth of 13,347 feet (12,851 feet true vertical depth). The well was spud on November 24, 2017 and had first production on January 3, 2018 – resulting in a spud-to-production time frame of less than 45 days.
The well logged more than 100 feet of oil and gas pay, allowing for a dual completion. The well’s production has averaged 1,060 net barrels of oil equivalent per day (boepd) over the first 45 day production period. Krewe is continuing its ongoing field study of the Lapeyrouse Field and has additional drilling opportunities planned for 2018.
Krewe Energy began 2017 with a total net production rate of 1,000 boepd. As a result of a very active 2017, inclusive of multiple acquisitions and well-work projects, it began 2018 at a net rate of 4,500 boepd. Krewe 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 – and has a production forecast of 6,000 net boepd by year-end 2018.
About Krewe Energy, LLC
Krewe Energy was formed in 2013 by its founders, Tom De Brock and Barry Salsbury, and engages in the acquisition, exploitation and development of oil and gas assets, with a specific focus on conventional production opportunities in the Gulf Coast area. Krewe’s equity partners include Sage Road Capital and Coral Reef Capital, with Legacy Texas Bank as its senior debt provider.
For more information on the Company, please visit www.krewe-energy.com.
Contact:
Krewe Energy, LLC
Robin Frazier
Phone: 985-898-4912 x115
Email: [email protected]
