Lilis Energy Receives Additional Extension on Final Borrowing Base Deficiency Payment and Deferral on Borrowing Base Redetermination
LILIS ENERGY (LLEX)
Last lilis energy earnings: 11/7 05:24 pm
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Source: GlobeNewswire
FORT WORTH, Texas, April 21, 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, among other things, extend the due date for the final installment payment of $7.75 million on the previously announced borrowing base deficiency from April 21, 2020 to June 5, 2020 as well as defer the timing of the scheduled spring borrowing base redetermination from on or about May 1, 2020 to on or about June 5, 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 June 5, 2020. The Company is continuing to consider transactions to fund th
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