The company paid $22m to Nordic Oil USA 1 in the form of a non-recourse, senior secured promissory note to acquire these properties located in Wilson, Gonzales and Karnes Counties.
The assets acquired represent all of Nordic Oil USA 1’s interests in the LEI 2009 II and III Capital Programs.
Lucas Energy president and CEO William Sawyer said this acquisition provides Lucas with an increase in revenues, proved reserves and Eagle Ford acreage.
