Lucas Energy Updates Production, Announces Staff Cuts; Shares Flat Late

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Lucas Energy, Inc. ( LEI ) over the past 45 days has conducted a series of work overs on its operated wells and has increased total production from an average of 260 barrels of oil per day in December 2012 to approximately 330 barrels of oil per day as of the end of January 2013.

Additionally, in an effort to reduce expenses moving forward, Lucas has reduced its staffing levels approximately 40%, including both office and operational personnel. Over the course of calendar 2013, Lucas hopes to reduce its total general and administrative expenses by approximately 40% from the same period in 2012.

LEI shares are unchanged after hours at $1.60.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: LEI

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