Lucas Energy将资助Eagle Ford页岩开发

Lucas Energy, Inc. (NYSE MKT: LEI), an independent oil and gas company with its operations in central Texas, today announced that its wholly-owned subsidiary, CATI Operating, LLC (‘CATI’), entered into an agreement with its senior lender, as evidenced by a promissory note, to borrow $1 million, effective August 15, 2016. The Company plans to use the funds to participate in the drilling and completion of certain Eagle Ford wells under a joint operating agreement with Lonestar Resources US, Inc. (‘Lonestar’) and conduct improvement maintenance operations on the existing assets of CATI. The agreement with Lonestar covers over 1,450 gross acres and Lucas’ participation will vary from an 8% to a 14% working interest in the units.

‘We are pleased to partner with Lonestar, a known and successful operator in the Eagle Ford, by initially participating in the Cyclone #9H and #10H wells in which CATI has a working interest of 8%,’ said Anthony C. Schnur, Chief Executive Officer of Lucas Energy. ‘This represents another step in the growth and expansion of our assets and our company. It is anticipated that the wells will enhance our reserve portfolio and production in addition to securing the leaseholds of the locations.’