Lilis Energy Inc
NASDAQ:LLEX (6/26/2020, 7:04:02 PM)
Premarket: 0.2243 -0.03 (-13.4%)0.259
-0.02 (-7.83%)
Lilis Energy, Inc. is an independent oil and gas exploration and production company. It is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects within the DJ Basin. Lilis Energy, Inc., formerly known as Recovery Energy, Inc., is based in Denver.
Lilis Energy Inc
201 MAIN STREET SUITE 700
FORT WORTH TX 76102
P: 817-585-9001
CEO: Joseph C. Daches
Lilis Energy (NYSEMKT:LLEX) said that Värde Partners has declined to pursue a new money investment in the company to sponsor a chapter 11 plan of reorganization, hence the company will immediately begin pursuing a process to sell substantially all of its assets through the chapter 11 process.“While the company is disappointed that the Värde Funds declined to pursue the new money investment contemplated by the restructuring agreement, we are confident there will be significant interest in the company’s highly contiguous block of ~16,000 net acres located in the deep and over- pressured portion of the Delaware Basin, including Winkler and Loving Counties in Texas and Lea County in New Mexico,” CEO Joseph Daches said
More U.S. retail companies sought bankruptcy protection in the first half of 2020 than in any other comparable period. Energy filings piled up at the fastest pace since oil prices plunged in 2016, data compiled by Bloomberg show.
Lilis Energy (NYSEMKT:LLEX) says it has filed for Chapter 11 bankruptcy protection.The restructuring support agreement is contingent upon the Värde Funds' election to provide by Aug. 17 an agreed equi
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