Since 2004, Lucas Energy has acquired 61 properties encompassing over 11,000 acres in Texas. The company now holds more than $90 million in independently proven reserves . A combination of rigorous ROI criteria and leading edge technologies provides the company with a payback period of less than 12 months per well. By applying strict fiscal controls, the management team has achieved and maintained profitability since inception.
2008 FY Conference Call
Scheduled for Thursday June 19, 2008 at 4:30 PM Eastern Time
Lucas Energy, Inc. is an independent oil and gas company building a diversified portfolio of valuable oil and gas assets in the United States. The company is focused on identifying underperforming oil and gas assets, which are revitalized through a meticulous process of evaluation, application of modern well technology, and stringent management controls. This process allows the company to increase its asset base and cash flow, while significantly reducing the risk of traditional exploration projects. Lucas Energy's financial structure allows it to minimize the high overhead of traditional E&P companies.
Lucas has embarked on an aggressive 12-month, 10-well lateral drilling program in order to increase production and reserves from existing properties. This program will exploit the multiple pay zones in the Austin Chalk formation in Texas. 20 years of experience with Austin Chalk horizontal drilling gives the Lucas team a replicable platform, enabling them to obtain leases and drill hot spots. By executing Lucas' lateral drilling program, production is expected to increase dramatically.
Intraday
1 month
3 month
13 consecutive quarters of profitability
Debt-free
61 properties, over 11,000 acres
31 producing wells, with an additional 20 PUD's held by production
Aggressive 12-month, 10-well drilling program
Proven execution
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