Value being recognized in Lucas Energy, Inc. (LEI). MRO has stepped upped as a JV for a 50% interest.
Lucas Energy, Inc. Announces Wilson County Joint Venture With Subsidiary of Marathon Oil Corporation
finance.yahoo.com
From the article:"...Lucas has entered into a Joint Venture agreement with Marathon Oil (East Texas) LP, a subsidiary of Marathon Oil Corporation (NYSE:MRO - News), for the development of the Eagle Ford and Buda formations in Wilson County, Texas. The Marathon affiliate has acquired 50% of the leasehold interest rights, representing approximately 1,000 net acres (below the base of the Austin Chalk formation) held by Lucas in a majority of Lucas' leases in Wilson County, Texas,,,.
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Stock up more than 28% on today's news.
EKS |
