QualityStocks'  Instablog

Send Message
QualityStocks (www.qualitystocks.net) assists publicly traded companies by getting their story out to the investment community while helping investors discover emerging companies with plenty of growth potential. Our name, QualityStocks, emphasizes our commitment to connect subscribers with... More
My company:
My blog:
QualityStocks Micro-Cap and Small-Cap Blog
  • Lucas Energy, Inc. (LEI) Acquires Additional Acreage in Texas 0 comments
    Jun 17, 2010 5:39 PM | about stocks: LEI

    Lucas Energy, Inc. announced that the company has acquired additional oil and gas producing acreage in the Eagle Ford Shale in South Texas. The company said that it would focus on the Buda and Austin Chalk formations on this acreage.

    Lucas Energy, Inc. bought the properties from several different sellers and acquired nine producing wells in the transaction. The company has already deployed a workover rig to help boost production from these wells.

    William A. Sawyer, the CEO of Lucas Energy, Inc., said, “The acquisitions continue our business plan model to acquire and re-enter old wells and put them back on production. Instrumental in the plan is the acquisition of wells, and leases, which have upside potential in the Eagle Ford and Buda formations.”

    Lucas Energy, Inc. had five workover rigs operating on its acreage here prior to the most recent acquisition. These rigs are used to renter older mature or abandoned wells in an attempt to re stimulate production. Lucas Energy, Inc. said that it would also drill a new well into the Austin Chalk formation, and test out the Eagle Ford Shale formation as well.

    Lucas Energy, Inc. is an oil and gas company with more than 15,000 acres under lease spread across 61 different properties in Texas.

    For more information on the company, go to at lucasenergy.com

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net


    Disclosure: no positions
    Stocks: LEI
Back To QualityStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.