Lucas Energy, Inc. LEI 8.49% shares had a huge finish to last week — up more than 300 percent on Thursday — after the company unveiled a purchase agreement to acquire underdeveloped land from 21 different entities, including two large blocks in the “liquids-rich” Mid-Continent region.
Investors cheered the development as a sign the company has gained more stable footing in a volatile energy environment. The stock, which traded 30,000 shares for the first three days of last week, traded more than 7 million shares on Thursday.
CEO Discusses Move And What’s Next
In an exclusive interview with Benzinga, Lucas Energy CEO Anthony Schnur said he was “somewhat surprised” by the stock’s heavy trading volume, but added that he’s “learned not to have expectations in the price.”