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LEI, Lucas Energy, Inc.
LEI reported that it had average gross production, from operated wells, of 468 BOPD (barrels of oil per day) for February 2012.
LEI anticipates ending the fiscal 2012 year with gross operated production of approximately 90,000 bbls of oil. This would be a 59% increase over the previous fiscal year.
LEI has drilled two new Austin Chalk horizontal wells, and three new laterals from existing Austin Chalk wells during the past 6 months. Recently, the Hagen Ranch Unit No.1HST well (a new lateral in an existing Austin Chalk well) was completed and put on pump.
LEI acquires low producing, shut in, or abandoned oil wells with underlying potential. Currently, LEI has acreage in the fast growing Eagle Ford Trend in Central Texas near San Antonio.
LEI has not departed from it base business plan of:
More about LEI at
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