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Lucas Energy loses Victory merger

Huston-based company Lucas Energy Inc. received unfortunate news last week as West Texas operator Victory Energy called off any further workings on a potential merger deal. The Houston Business Journal reported last Friday that Victory ended the nonbinding letter of intent on May 11. Both companies were allowed to end the working agreement for any reason. The deal would have ...

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Recent merger to prove victorious for Lucas Energy

Despite its recent announcement that it has defaulted on a debt payment, Houston-based oil production company Lucas Energy announced today that it is working on a deal to merge with West Texas operator Victory Energy and will be seeking capital to drill in the Eagle Ford Shale. On Friday, Lucas Energy said in a statement that it defaulted on a ...

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Houston energy company defaults on debt payment

As the old saying goes, “just when you thought things couldn’t get any worse.” Well, for Houston-based Lucas Energy, things have gone from bad to worse. The company said Friday that it has defaulted on a debt payment dating back to December 13 of last year, which means it will now be paying a defaulted interest of 18 percent per ...

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