Hilcorp has completed drilling the Hagen EF No.1H, an Eagle Ford horizontal well, in Gonzales County, Texas. After setting the casing in the well, Hilcorp is expected to use the same pad to drill a second well parallel to the first. Completion and stimulation of both wells is expected to take place in late December. Lucas has a 15% carried working interest in both wells, which means that Lucas does not have to contribute to the drilling and completion costs.
William A. Sawyer, President and Chief Executive Officer of the Company, said, "The production and resulting revenue from our first two Hilcorp joint venture wells are anticipated to start in February 2011. We believe that these two wells will make a significant difference in our revenues and production."
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