Lucas Energy was founded in 2004 with the strategy of acquiring previously producing plugged and abandonded wells. The company acquired it’s first two wells in 2005 in Gonzales County. They now have 60 wells in 4 counties according to Drillinginfo, the majority being in Gonzales.
The Gonzales acreage is in the oil window slightly updip of the EOG Marshall lease. According to the EOG Analyst Day Presentation, these Marshall wells IP’ed at up to 1658 Bopd.
Lucas has been re-entering and recompleting wells in the Buda and Austin Chalk formations bounding the Eagle Ford. No doubt they are testing the Eagle Ford potential all across this acreage. They are currently operating five workover rigs, three are working on re-entries, one is drilling a new lateral in the Austin Chalk.
Here are their 2010 permits. These are all recompletions and re-entries.
It’s important to point out that the recent Hilcorp and Lucas Gonzales County JV does not include producing wells or current production.
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