Lucas Energy, Inc. (LEI) Acquires Additional Acreage in Texas
Lucas Energy, Inc. announced that the company has acquired additional oil and gas producing acreage in the Eagle Ford Shale in South Texas. The company said that it would focus on the Buda and Austin Chalk formations on this acreage. Lucas Energy, Inc. bought the properties from several different sellers and acquired nine producing wells in the transaction. The company has already deployed a workover rig to help boost production from these wells. William A. Sawyer, the CEO of Lucas Energy, Inc., said, “The acquisitions continue our business plan model to acquire and re-enter old wells and put them back…