Lilis Energy Inc. , an exploration and development company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced the closing of the sale of substantially all of the assets of the Company and its filing subsidiaries to Ameredev Texas, LLC pursuant to a previously disclosed Bankruptcy Court-approved purchase and sale agreement . As a result, the Company expects that the Effective Date of [...]
Lilis Energy Inc. , an exploration and development company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced that the United States Bankruptcy Court for the Southern District of Texas, Houston Division entered an order on November 17, 2020, among other things, confirming the Modified Debtors’ First Amended Joint Liquidating Chapter 11 Plan which received the overwhelming support of [...]
This press release corrects the prior press release dated November 8, 2020 solely with respect to the time and date of the Bankruptcy Court hearing to approve the proposed sale of assets. Lilis Energy Inc. , an exploration and development company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced that, following a comprehensive sale process and a competitive auction as part of its [...]
Lilis Energy Inc. , an exploration and development company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced that, following a comprehensive sale process and a competitive auction as part of its Chapter 11 process, Ameredev Texas LLC has been named as the winning bidder to acquire substantially all of the Company’s assets for a $46.6 million cash payment at closing. In accordance [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that certain investment funds and entities affiliated with V?rde Partners, Inc. have declined to pursue a new money investment in the Company to sponsor a chapter 11 plan of reorganization. Therefore, in accordance with the terms of the Restructuring Support Agreement entered [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that it has received notification dated June 29, 2020 from the NYSE American LLC that the Company’s common stock has been suspended from trading on the NYSE American and that the NYSE American has determined to commence proceedings to delist the Company’s common stock. The [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that it has filed petitions under Chapter 11 of the United States Bankruptcy Code to initiate voluntary cases in the United States Bankruptcy Court for the Southern District of Texas, Houston Division . The Chapter 11 petitions were filed in accordance with a Restructuring [...]
Lilis Energy Inc. , an exploration and development company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced its 2019 fourth-quarter and full-year results. Joseph C. Daches, Chief Executive Officer and President, commented, “While 2019 delivered certain key operational advances and highlights, we were significantly impacted by lower commodity prices, which created liquidity issues [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that the Company’s bank lending group has agreed to amend the existing revolving credit agreement to, among other things, extend the due date for the final installment payment of $7.75 million on the previously announced borrowing base deficiency from April 21, 2020 to June 5 [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that the Company is taking measures to reduce costs given current market conditions. In response to unprecedented challenges faced across the industry, the Company has reduced G&A expense by approximately 50%, G&A headcount by approximately 44% and operating costs by [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that the Company’s bank lending group has agreed to amend the existing revolving credit agreement to extend the due date for the final installment payment of $7.75 million on the previously announced borrowing base deficiency from April 14, 2020 to April 21, 2020. As [...]
Lilis Energy Inc. announced today that the Company’s bank lending group has agreed to amend the existing revolving credit agreement to, among other things, extend the due date for the third installment payment of $1.5 million on the previously announced borrowing base deficiency from March 30, 2020 to April 14, 2020. As previously reported, the first two borrowing base deficiency installment payments under the amended [...]
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