Lucas Energy announces production increase for fiscal year 2012

Source: Lucas Energy, Inc.

Lucas Energy, Inc. (NYSE: LEI) an independent oil and gas company (the "Company" or "Lucas"), today announced that the Company had average gross production, from operated wells, in November 2011 of 247 barrels of oil per day (BOPD). This is a 5% increase in average gross operated production from the month of October 2011, which was 236 BOPD. These numbers do not include oil and gas production from the two Eagle Ford wells operated by an affiliate of Marathon Oil Company.

Lucas has seen an increase in its average gross daily operated production volumes for fiscal 2012 to date, versus 2011. During the first six months of the 2012 fiscal year (April 1, 2011 through September 30, 2011), average gross operated production was 194 BOPD. For the 2011 fiscal year (the fiscal year that ended March 31, 2011) average gross operated production was only 155 BOPD. The Company has seen a 25% increase in average gross operated production from the previous year to the first half of this fiscal year.

It is anticipated that the last half of the 2012 fiscal year will see an additional increase due to the drilling of new horizontal wells in the Austin Chalk formation. For more information on this and other activities of the Company, see the Lucas Energy web site

Sign up for PennEnergy's eNewsletters
For Email Newsletters you can trust

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs