Lucas Energy (LEI) Reports Three Well Completions

By Jonathan

July 29, 2010 2:00 PM EDT

Lucas Energy (LEI) Reports Three Well Completions

Lucas Energy reported the successful completion of three wells as part of the company’s 2010 oil and gas development program. The wells were drilled and completed over the last two months on the company’s acreage in Texas.

Lucas Energy drilled and completed the Wall No.1 well located in Wilson County. The well was a re-entry of a previously drilled well to the Buda formation. The Wall No.1 well was producing at a rate of 91 barrels of oil per day, with no water present. The management of Lucas Energy believes that this well has potential for the Eagle Ford Shale formation, which is located just above the Buda formation.

Lucas Energy drilled and completed the Stoeltje No.2 well located in Wilson County. The well was a re-entry of a well previously drilled into the Austin Chalk formation. The well was producing at a rate of 23 barrels of oil per day, along with 28 barrels per day of water per day.

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Lucas Energy drilled and completed the Gescheidle No.1 well, which is a plug back of a lateral in the Austin Chalk formation, along with a new completion into the Buda formation. The well was producing at a rate of 254 barrels of oil per day, along with 130 barrels per day of water per day. Lucas Energy said that most of the water was part of the fluid used to stimulate the well when it was completed.

For more information on the company, go to www.lucasenergy.com

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