Lucas Energy Acquires Eagle Ford Trend Acreage From Hall Phoenix Energy For $6.4 Million

February 2012, Vol. 239 No. 2

Lucas Energy, Inc., an independent oil and gas company, has closed a purchase and sale transaction with Hall Phoenix Energy, LLC for all of Hall Phoenix's right, title and interest in certain oil, gas, and mineral leases in the Eagle Ford/Eaglebine/Austin Chalk Trend. The properties are located in Wilson, Leon and Madison counties in Texas.

The transaction increases the amount of Eagle Ford/Eaglebine acreage Lucas holds by 1,500 net acres. It now owns 8,900 net acres in the Eagle Ford/Eaglebine Trend over 27,000 gross acres.