Project Profile
Location: San Antonio, Texas
Area: 15,000 acres
The primary acreage assets of Lucas Energy, Inc. (“Lucas”) are located about one hour southeast of San Antonio, Texas, in, and around, the historic town of Gonzales, Texas. Lucas has a gross acreage position of approximately 15,000 acres in four Texas counties – Gonzales, Wilson, Karnes, and Atascosa. In Gonzales County, Lucas owns most of the rights above the base of the Austin Chalk formation; but is limited to 15% of the leasehold in the Eagle Ford and Buda formations. There is a temporary exception on several leases that Lucas still owns 100% of the leasehold interest on, as the acreage has not yet been conveyed to the Hilcorp joint venture.
The Austin and Buda formations have been the target of active exploration due to the increased oil prices. These reservoirs are almost totally dependent on natural fracturing for productivity.
Operators:
Lucas Energy: Lucas owns most of the rights above the base of the Austin Chalk formation, but is limited to 15% of the leasehold in the Eagle Ford and Buda formations.