Bill Sawyer, CEO Lucas Energy, “Oil & Gas Company Bringing Old Wells Back on Production” at the B. Riley & Co. Conference 2012
Lucas Energy, Inc. (AMEX: LEI) operates as an independent oil and gas company in Texas. It acquires oil and gas properties; and develop, produces, and markets crude oil and natural gas from various known geological formations, including the Austin Chalk, Eagle Ford, and Buda Formations primarily in Gonzales, Wilson, Karnes, and Atascosa counties in South Texas and McKinley county in New Mexico. SNNLive caught up with Bill Sawyer, CEO of Lucas Energy, Inc. at the B. Riley & Co. Conference 2012 in Santa Monica, CA.
In this interview, Mr. Sawyer goes over what has been going on at Lucas Energy, where they are currently drilling, and what 2012 has in store. Mr. Sawyer begins by catching SNNLive up as to what is happening with the company, “we’re having big times now, we’ve got new wells coming in. We just finished a new well, and fixing to start another one. And we are going to sell our Eagle Ford in the next probably 60-120 days.” He goes on to say that, “we’re currently drilling in the Austin Chalk because we believe that is the undervalued property. We’re doing that one well at a time. We still have some activity at the Eagle Ford right now, but we’re hoping that we sell that and putting more money in the Austin Chalk.”
“We think the Austin Chalk is probably so undervalued that we’re hoping to have something between 5-10 million barrels when we finish”, Mr. Sawyer states when discussing Austin Chalk property. He concludes by stating that, “our hope is that we get much much bigger.” For more information about Lucas Energy, check out their website. SNNLive welcomes back Bill Sawyer, CEO of Lucas Energy, Inc.
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