Exploration & Production
Lucas Energy Grows Production from Eagle ford Operations
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Lucas Energy, Inc., today announced that for the Company's 2013 first fiscal quarter, i.e., the quarter ended June 30, 2012, gross operated production was over 30,000 bbls (barrels) of oil. This is a 70% increase in the production over the 1st Quarter of fiscal 2012 which was just over 18,000 bbls of oil. These numbers do not include oil and gas production from the two Eagle Ford wells operated by an affiliate of Marathon Oil Company.
Gross production from operated wells for the 1st quarter of this fiscal year are slightly lower than anticipated due to drilling and workover activity being down. These activities are expected to increase in the 2nd and 3rd quarters of this fiscal year when joint venture funding is anticipated to be completed. Despite the anticipated decrease in drilling…
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