Lilis Energy Inc. announced today that the Company’s bank lending group has agreed to extend the due date for the third installment payment of $1.5 million on the previously announced borrowing base deficiency under its revolving credit agreement from March 16, 2020 to March 30, 2020. As previously reported, the first two borrowing base deficiency installment payments under the amended revolving credit agreement [...]
Lilis Energy Inc. announced today that David M. Wood has resigned as Chairman of the Board and a director of the Company. The resignation of Mr. Wood was for personal reasons and not as a result of a disagreement with the Company, its directors or any of its stockholders. The board of directors of the Company today appointed current director Michael G. Long as Chairman of the Board. Mr. Long stated: “On behalf of [...]
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 closed the previously announced sale of approximately 1,146 undeveloped net acres in the Company’s northernmost acreage in Lea County, New Mexico. The net cash proceeds of approximately $24.1 million will be used to fund the first two borrowing base [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced that Värde Partners, Inc., on behalf of certain of its affiliated private funds and investment vehicles , has extended the expiration date for its previously announced non-binding offer proposing to acquire all of the outstanding shares of common stock of the Company not [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced that the Company’s bank lending group has agreed to extend the due date for the first two installment payments on the borrowing base deficiency under its revolving credit agreement that resulted from the recently announced borrowing base redetermination. The amendment to [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced that on February 7, 2020 the NYSE American LLC notified the Company that it has accepted the Company’s plan to regain compliance with the NYSE American’s continued listing standards. As previously disclosed, on November 21, 2019, the Company received a letter from the [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced that the Company’s bank lending group has agreed to extend the due date for the first two installment payments on the borrowing base deficiency under its revolving credit agreement that resulted from the recently announced borrowing base redetermination. The amendment to [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced that the Company’s bank lending group has agreed to extend from January 24, 2020 to February 7, 2020 the due date for the initial installment payment on the borrowing base deficiency under its revolving credit agreement that resulted from the recently announced borrowing [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced that its lenders have completed the scheduled redetermination of the Company’s borrowing base under the revolving credit agreement. As a result of the redetermination, the borrowing base has been set at $90 million. As previously disclosed, the Company is currently fully [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced that it has received a non-binding offer from Värde Partners, Inc., on behalf of various entities affiliated with Värde Partners , proposing to acquire all of the outstanding shares of common stock of the Company not owned by Värde in a cash merger transaction [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced that on December 3, 2019, Lilis Energy Inc. received a deficiency letter from the NYSE American LLC stating that the Company is below compliance with the continued listing standards as set forth in Section 1003 of the NYSE American Company Guide because the Company’s common [...]
Lilis Energy Inc. , an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced that on November 21, 2019 it received a deficiency letter from the NYSE American LLC , indicating that the Company did not meet certain of the NYSE American continued listing standards as set forth in the NYSE American Company Guide . The Letter states that the Company is below [...]
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