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{"id":10727,"date":"2013-04-15T10:23:05","date_gmt":"2013-04-15T10:23:05","guid":{"rendered":"http:\/\/www.seonewswire.net\/2013\/04\/lucas-energy-settles-lawsuit\/"},"modified":"2013-04-15T10:23:05","modified_gmt":"2013-04-15T10:23:05","slug":"lucas-energy-settles-lawsuit","status":"publish","type":"post","link":"http:\/\/www.seonewswire.net\/2013\/04\/lucas-energy-settles-lawsuit\/","title":{"rendered":"Lucas Energy Settles Lawsuit"},"content":{"rendered":"

Lucas Energy Inc., a Houston-based oil and gas company, has settled a lawsuit filed by Seidler Oil & Gas LP.<\/p>\n

Under the terms of the January 28, 2013 settlement agreement, Lucas agreed to release certain revenues that had been suspended to Seidler, to participate in a joint operating agreement with the company, and to return approximately $1.38 million to Seidler and other investors. The money is associated with the Hagen Unit 5-H well, which was not drilled. Lucas also agreed to join Seidler in defending against any legal action taken against either company in connection with the well.<\/p>\n

Lucas Energy further agreed that if executed releases are received from certain investors, the company will reimburse Seidler $85,000 and release it from claims connected to the lawsuit. Seidler, based in Alvarado, Texas, agreed to dismiss its lawsuit against Lucas. The lawsuit was filed in the District Court for the 25th (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Lucas Energy Inc., a Houston-based oil and gas company, has settled a lawsuit filed by Seidler Oil & Gas LP. Under the terms of the January 28, 2013 settlement agreement, Lucas agreed to release certain revenues that had been suspended…<\/span><\/p>\n

Read more ›<\/a><\/div>\n

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