Lilis Energy says Delaware Basin acreage deal advances production target [Seeking Alpha]
LILIS ENERGY (LLEX)
Last lilis energy earnings: 11/7 05:24 pm
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Source: Seeking Alpha
Lilis Energy says Delaware Basin acreage deal advances production targetLilis Energy (LLEX+3.5%) opens higher after announcing anacre-for-acre trade of ~1,500 net acres in Winkler and Loving counties, Texas.LLEX says the deal increases its gross working interest in its Texas Delaware Basin asset by as much as 35% and further concentrates its acreage in the company's main areas of operational activity.LLEX says the production and working interests added from the deal and additional wells in completion move the company closer to its year-end target of 7,500 net boe/day, which it now expects to exceed well before year-end.See all stocks on the move »Now read:Legacy Reserves: Examining Its Asset Value »
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