Current LLEX Stock Info

Lilis Energy (ticker: LLEX) is exclusively involved in exploration and development in the Permian basin. As of June, 2017, the company currently holds over 10,000 net acres in the Delaware basin and estimates that its acreage holds over 500 potential horizontal net drilling locations.

Lilis merged with Brushy Resources in 2016, which—at the time—expanded the company’s acreage by 185%.

The company plans to drill 11 gross (9 net) wells during 2017, comprised of both vertical re-entries and new projects, into the Wolfcamp B formation. As of June, 2017 the company had completed and begun producing from three horizontal Wolfcamp B wells, with fracturing operations finishing on a fourth well, and a fifth well being drilled.

Lilis Energy: Seeking Opportunity in Pure Play Delaware

Source: Lilis Energy

Following the execution of Lilis’ drilling and completions plan, the company anticipates that it will average approximately 5,000 to 5,300 BOEPD at the end of 2017.

In total, the company currently has 15 vertical wells, four producing horizontal wells, one horizontal well being drilled, and one horizontal well being completed. Avi Mirman, the CEO of Lilis Energy, reported that he expected that Lilis’ “total 2017 drilling and completion capital spending will remain within [its] anticipated target of approximately $50 million.”

Offsets indicate potential

Last October, in 2016, RSP Permian (ticker: RSPP) acquired 41,000 acres in the Delaware basin immediately offset to Lilis’ existing acreage. The RSP acreage was producing 15,000 BOEPD at the time.

Lilis Energy: Seeking Opportunity in Pure Play Delaware

Source: Lilis Energy

Lilis Energy is presenting at EnerCom’s The Oil & Gas Conference® 22

Lilis will be a presenting company at the upcoming EnerCom conference in Denver, Colorado—The Oil & Gas Conference® 22.

The conference is EnerCom’s 22nd Denver-based oil and gas focused investor conference, bringing together publicly traded E&Ps and oilfield service and technology companies with institutional investors.  The conference will be at the Denver Downtown Westin Hotel, August 13-17, 2017. To register for The Oil & Gas Conference® 22 please visit the conference website.

Lilis Energy: Seeking Opportunity in Pure Play Delaware

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