ATLANTA, April 30, 2026 (GLOBE NEWSWIRE) -- Lucasys Inc, a leading provider of cloud tax software for North American utilities and energy companies, today announced that multiple oil & gas companies have subscribed to the Lucasys Income Tax Suite. The new customers represent a significant expansion of Lucasys’ customer base beyond its core regulated utility market, marking a strategic milestone as the company extends its industry-leading tax platform into the broader energy sector.
The new customers collectively manage more than $200 billion in property, plant, and equipment across North America, with operations spanning more than 30 U.S. states and Canada. Like the regulated utilities that have long relied on Lucasys, these organizations operate extensive fixed asset bases and face complex tax depreciation and deferred income tax requirements. Lucasys Tax delivers the automation, traceability, and regulatory depth these companies need, extending the platform’s proven approach into the broader asset-intensive energy sector including oil & gas.
“Expanding into oil & gas is a natural evolution for Lucasys. Midstream energy companies manage some of the largest asset bases in North America. The fact that leading oil & gas organizations are choosing Lucasys validates what we have always believed: our platform is built for any asset-intensive business that demands accuracy, auditability, and efficiency from its tax operations.”
-Vadim Lantukh, Co-Founder and CEO of Lucasys
Oil & gas companies operate some of the most capital-intensive asset portfolios in the world, with spanning pipelines, processing facilities, storage infrastructure, and upstream assets across multiple jurisdictions. Managing tax depreciation and deferred income taxes across these portfolios requires a platform that can handle scale, complexity, and multi-jurisdictional compliance without compromise. Lucasys Tax meets that bar, and these new customers have recognized it.
“Implementing Lucasys for oil & gas customers has reinforced just how transferable our methodology is across asset-intensive industries. The complexity differs from regulated utilities, but the core requirements - accurate tax fixed asset records, reliable deferred tax calculations, and a process that holds up under audit - are the same. Our team is built for this, and we are now delivering the same results for oil & gas that our utility customers have come to expect.”
-Daniel Chang, Co-Founder and COO of Lucasys
Lucasys’ commitment to excellence is further demonstrated by its responsive support and continuous improvement efforts. The company works closely with its customers, incorporating feedback into product development to ensure that solutions remain aligned with evolving industry needs. With a growing customer base now spanning regulated utilities, oil & gas companies, and other asset-intensive organizations across North America, Lucasys is well-positioned to continue expanding its platform and customer base through the remainder of 2026.
About Lucasys
Lucasys delivers software and technology-enabled services to empower finance, accounting, and tax professionals in asset-intensive industries to optimize the financial performance of their fixed assets and proactively meet changing regulatory and compliance requirements. With a core focus on rate-regulated utilities, Lucasys provides the industry and domain expertise utilities require to meet their business objectives. To learn more about Lucasys, visit https://www.lucasys.com or follow us on LinkedIn.
Contact: Tommy Ferguson, CMO, Lucasys
1-844-582-2797
contact@lucasys.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2c782e21-4748-4754-af2d-15cbe4d7783b
