Lucas has completed the Rainey Unit No.1H well in Gonzales County, Texas as a pumping horizontal oil well in the Austin Chalk formation. The well tested 107 barrels of oil per day (bopd) and 36 barrels of water per day (BWPD) (load water or drilling water, not formation water) pumping. Lucas has approximately a 25% working interest in this well.
The Rainey Unit No.1H well is a new horizontal well drilled with a 3,535 foot lateral through the Austin Chalk "C" zone. The well was put on pump after swabbing and flowing the well for several days. The well has cumulative production of 1,755 barrels (bbls) of oil. Although an Austin Chalk completion, the Rainey Unit No.1H well is on acreage which is located in the newly developed oil leg of the Eagle Ford trend.
William A. Sawyer, President and Chief Executive Officer of the Company said, "The Rainey Unit No.1H horizontal Austin Chalk well completion provides growth to the production and revenues of the Company."
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