Investors need to pay close attention to Lilis Energy (LLEX) stock based on the movements in the options market lately.
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.
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 it has closed the previously announced sale of approximately 1,146 undeveloped net acres in the Company’s northernmost acreage in Lea County, New Mexico. The net cash proceeds of approximately $24.1 million will be used to fund the first two borrowing base deficiency installment payments under the amended revolving credit agreement aggregating $17.25 million, with the balance to be used for general corporate purposes. The Company continues to consider additional transactions to fund required repayments of the borrowing base deficiency on a timely basis.
FORT WORTH, Texas, Feb. 17, 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, today announced that Värde Partners, Inc., on behalf of certain of its affiliated private funds and investment vehicles (collectively, “Värde”), has extended the expiration date for its previously announced non-binding offer proposing to acquire all of the outstanding shares of common stock of the Company not owned by Värde for $0.25 per common share from February 17, 2020 to February 27, 2020. The special committee of the board of directors of the Company will further evaluate the Värde offer as the special committee continues its process of evaluating the potential for other strategic alternatives with the assistance of its financial advisor, Barclays Capital Inc.
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, today announced that the Company’s bank lending group has agreed to extend from January 24, 2020 to February 7, 2020 the due date for the initial installment payment on the borrowing base deficiency under its revolving credit agreement that resulted from the recently announced borrowing base redetermination. Under the revised payment schedule, the revolving credit agreement requires the Company to repay the $25 million borrowing base deficiency in four equal installments of $6.25 million beginning February 7, 2020 and ending April 14, 2020.
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.
FORT WORTH, Texas, April 30, 2020 -- Lilis Energy, Inc. (NYSE American: LLEX) (the “Company"), an exploration and development company operating in the Permian Basin of West.
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 extend the due date for the third installment payment of $1.5 million on the previously announced borrowing base deficiency under its revolving credit agreement from March 16, 2020 to March 30, 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.
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 third installment payment of $1.5 million on the previously announced borrowing base deficiency from March 30, 2020 to April 14, 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.
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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 that on February 7, 2020 the NYSE American LLC (“NYSE American”) notified the Company that it has accepted the Company’s plan to regain compliance with the NYSE American’s continued listing standards.
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, today announced that its lenders have completed the scheduled redetermination of the Company’s borrowing base under the revolving credit agreement. As a result of the redetermination, the borrowing base has been set at $90 million.
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, today announced that the Company’s bank lending group has agreed to extend the due date for the first two installment payments on the borrowing base deficiency under its revolving credit agreement that resulted from the recently announced borrowing base redetermination. The amendment to the revolving credit agreement provides for an extension of the first and second installment payments from February 18, 2020 to February 28, 2020.
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, today announced that the Company’s bank lending group has agreed to extend the due date for the first two installment payments on the borrowing base deficiency under its revolving credit agreement that resulted from the recently announced borrowing base redetermination. The amendment to the revolving credit agreement provides for an extension of the first and second installment payments from February 7, 2020 to February 18, 2020, and from February 14, 2020 to February 18, 2020 respectively.
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, today announced that it has received a non-binding offer from Värde Partners, Inc., on behalf of various entities affiliated with Värde Partners (collectively, “Värde”), proposing to acquire all of the outstanding shares of common stock of the Company not owned by Värde in a cash merger transaction for $0.25 per common share. The Värde offer is subject to obtaining customary financing, the recommendation of the Company’s special committee, approval by the Company’s board of directors and Värde's investment committee and entering into a definitive merger agreement with the Company.
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 David M. Wood has resigned as Chairman of the Board and a director of the Company. The resignation of Mr. Wood was for personal reasons and not as a result of a disagreement with the Company, its directors or any of its stockholders. The board of directors of the Company today appointed current director Michael G. Long as Chairman of the Board.
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 is taking measures to reduce costs given current market conditions. In response to unprecedented challenges faced across the industry, the Company has reduced G&A expense by approximately 50%, G&A headcount by approximately 44% and operating costs by approximately 50%. The Company has implemented salary reductions, a reduction in board size and compensation, furloughs and layoffs to achieve these reductions.
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 that on December 3, 2019, Lilis Energy, Inc. (the “Company”) received a deficiency letter (the “Deficiency Letter”) from the NYSE American LLC (“NYSE American”) stating that the Company is below compliance with the continued listing standards as set forth in Section 1003(f)(v) of the NYSE American Company Guide (the “Company Guide”) because the Company’s common stock has been selling for a low price per share for a substantial period of time. The Letter states that the Company must effect a reverse stock split of its common stock or otherwise demonstrate sustained price improvement no later than June 3, 2020.
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