Lilis Energy Announces Initial Results From Recent 3rd Bone Spring Well and Announces an Increase in Liquidity
LILIS ENERGY (LLEX)
Last lilis energy earnings: 11/7 05:24 pm
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Source: GlobeNewswire
HOUSTON, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Lilis Energy, Inc. (NYSE American: LLEX), an exploration and development company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that the Tiger #3H has reached the 24-hour initial production rate. The Company has also obtained a Borrowing Base increase to $108MM effective December 7, 2018 as a result of its regularly scheduled fall redetermination process. Tiger #3H – 3rd Bone Spring Highlights: IP 24 rate of 1,821 Boepd, including 801 Bopd (63% liquids, 44% oil), on a three-stream basis, equivalent to 239 Boepd per 1,000 ft. The Tiger #3H was completed as a 7,634 ft. lateral with 38 stages using 200 ft. plug-to-plug spacing and approximately 1,847 lbs. of sand per ft. Lilis’ second 3rd Bone Spring well highlights another economic zone within Lilis’ core acreage and represents the latest encouraging data point in the Company’s continued strategic delineation program. Decreased D&C cost for Bone Sp
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