Current LLEX Stock Info

Tiger #1H reached 1,803 BOEPD, 72% liquids on 4,108 foot lateral

Lilis Energy, Inc. (ticker: LLEX) said that its Tiger #1H well has reached a 24-hour initial production rate of 1,803 BOEPD on a three-stream basis, at 439 BOEPD per 1,000 ft. or 242 BOPD per 1,000 ft. of lateral. The well is currently producing at 72% liquids on a three-stream basis.

Lilis Energy Announces Tiger #1H IP in the Wolfcamp

LLEX Well Benchmarking

The Tiger #1H is the company’s seventh successful operating horizontal Wolfcamp B well in the Permian’s Delaware Basin.

The Tiger #1H’s 4,108 ft. lateral was completed with 21 stages of 200 ft. plug-to-plug spacing with approximately 2,060 lbs. of sand per ft. The Tiger #1H has one of our highest IP rates based on an IP per 1,000 ft.

The company has begun selling gas in Texas and commenced full production operations in New Mexico in Dec. under its Lucid midstream agreement, which we expect to be fully operational by mid-February. Complete implementation of the Lucid midstream system should alleviate the company’s recent production curtailment issues and provide capacity for currently planned future development, Lilis said.

“This well is our seventh successful horizontal well, one of the top wells in the Delaware basin on an IP per 1,000 ft. We are encouraged with the progress on the Lucid midstream system, including the initial sales of gas in Texas and look forward to full implementation in the near term,” said Lilis Executive Chairman Ron Ormand said.

“We also intend to increase focus on delineating our acreage both geographically and geologically through testing of additional benches in 2018.”

“In the first quarter, we expect to complete one well and commence drilling another well on our eastern acreage,” Ormand added. “We also intend to commence drilling wells in the Wolfcamp A, the Wolfcamp XY and the 2nd Bone Springs.”

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