Lucas Energy, Inc. (NYSE MKT: LEI) has announced two key additions to its leadership team. Fred S. Zeidman has been appointed a member of the board of directors and will serve as a member of the Audit and Compensation committees. In addition, Michael M. Sagan has joined the company as vice president of operations.
Prior to this appointment, Zeidman was chairman of the board of directors of Petroflow Energy Corp. and director of Petro River Oil Corp. He has also served as a director of Hyperdynamics Corp. and as a director of Prosperity Bancshares Inc. He currently serves as trustee for the AremmiSoft Liquidating Trust. In March, Zeidman was also appointed to the board of Straight Path Communications Inc. In past roles, he has been an interim president of Nova Biosource Fuels Inc.; chief restructuring officer for Transmeridian Exploration Inc.; CEO, president and chairman of the Board of Seitel Inc.; managing director of Greenberg Traurig LLP; and CEO, interim CEO and chairman of the board of a variety of companies, including several in the oil and gas sector. Zeidman holds Bachelor of Science and Bachelor of Arts degrees from Washington University, along with a Master of Business Administration degree from New York University.
Before joining Lucas Energy, Sagan served as the engineering and operations manager of Layline Petroleum in Houston. He has experience drilling horizontal wells with fracture stimulation techniques in the Austin Chalk and Barnett, Woodford and Fayetteville shale plays. Sagan has also drilled and completed high-pressure wells in the Frio, Wilcox, Bol Mex and Yegua formations in the US Gulf Coast region. His past experience has been with Hallwood Petroleum, Aspect Energy, Presidio Exploration and Tenneco Oil. Sagan was also an operations consultant to Encana Oil & Gas and Credo Petroleum in the early 2000s. He holds a Bachelor of Science degree in petroleum engineering from Pennsylvania State University.
Lucas Energy is an independent oil and gas company developing its acreage positions in the Eagle Ford, Austin Chalk, Eaglebine, Buda and Glen Rose resource plays.