By OGJ editors
HOUSTON, June 3 -- The Griffin Oil Unit-2 well in Gonzales County, Tex., has produced more than 33,000 bbl of oil from Cretaceous Austin chalk since being restored to production in July 2006, said Lucas Energy Inc., Houston.
Lucas Energy purchased the well for $15,000 and spent $120,000 on a pumping unit, tubing and rods, and a workover. The well had yielded 280,000 bbl before being shut-in in 2000.
Production tax is abated due to a shut-in tax exemption the company received from the state. Lucas Energy holds 100% of the working interest.