Under the JV, Lucas will be the operator and is expected to drill approximately eight new Austin Chalk wells, or new laterals in existing wells, during 2011.
This new JV will be along standard industry terms and will relate to both acreage currently held by Lucas and newly acquired acreage.
Lucas president and CEO William Sawyer said that Lucas is pleased to have Seidler as a joint venture partner for its LEI 2011 drilling program in the Gonzales County, Texas area.
