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News Breaks
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February 8, 2012
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| 17:05 EDT |  | LEI |
| theflyonthewall.com: | Lucas Energy provides update on Gonzales County, Texas JV with Marathon Oil EF | | Lucas Energy (LEI) announced that the company has been in discussions with Marathon Oil EF, LLC - formerly Hilcorp Resources, LLC - regarding the current status of, and the future opportunities with regard to, our Hilcorp/Lucas Gonzales County Eagle Ford participation agreement. In particular, we have discussed the drilling program, and lingering issues left over from before Marathon took over management of the program. Currently, Lucas Energy is discussing these issues with Marathon. Marathon has assured Lucas Energy, though, that their intention is to propose the maximum number of wells to be drilled in the Eagle Ford on the Lucas property covered under the participation agreement for calendar year 2012. Lucas believes that they are better off with a well thought out plan that has the potential to maximize production and revenues rather than hastily move forward without a plan. :theflyonthewall.com |
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