Lilis Energy Receives Additional Extension on Final Borrowing Base Deficiency Payment
LILIS ENERGY (LLEX)
Last lilis energy earnings: 11/7 05:24 pm
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Source: GlobeNewswire
FORT WORTH, Texas, April 14, 2020 (GLOBE NEWSWIRE) -- Lilis Energy, Inc. (NYSE American: LLEX) (the “Company”), an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that the Company’s bank lending group has agreed to amend the existing revolving credit agreement to extend the due date for the final installment payment of $7.75 million on the previously announced borrowing base deficiency from April 14, 2020 to April 21, 2020. As previously reported, the first two borrowing base deficiency installment payments under the amended revolving credit agreement aggregating $17.25 million were funded on February 28, 2020. The due date for the final $7.75 million installment payment is April 21, 2020. The Company is continuing to consider transactions to fund the repayment of the borrowing base deficiency on a timely basis. There is no assurance, however, that such transactions will be completed or that the bank gr
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