Houston-based Lilis Energy (ticker: LLEX), an independent oil and gas E&P company in the Delaware Basin (west Texas and southwestern New Mexico), announced yesterday it closed a new five-year senior credit revolving loan facility. The maximum borrowing amount is $500 million, with an initial borrowing base of $95 million. The initial borrowing base can be expanded in the future. According
Lilis Energy Announces Strategic Transaction in the Texas Delaware Basin Through Exchange of Acreage
Permian E&P Lilis Energy, Inc. (ticker: LLEX) has appointed Ronald D. Ormand to CEO, in addition to his position as chairman of the board. James W. Denny III has been appointed EVP of production and operations, and the board of directors has also appointed Michael G. Long as a new member of the board. “I am very honored and excited about
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
