Lilis Energy Inc. — once based in Denver; now headquartered in San Antonio — has sold all of its assets in the Denver-Julesberg Basin of Colorado, Wyoming and Nebraska as the exploration and production company shifts its focus to the Permian Basin of West Texas.
In a filing with the U.S. Securities and Exchange Commission, Lilis (Nasdaq: LLEX) Chief Financial Officer Joseph Daches confirmed that the company completed the $2 million sale on Friday.
Lilis has not disclosed the buyer. But prior to the sale, the company reported holding 14,254 net acres of leases in Weld County; Laramie County, Wyoming; and other parts of Colorado and Nebraska.
"This divestiture completes Lilis’ transformation to a pure play Permian Basin company," Daches wrote in his filing.
Read more at the Denver Business Journal: http://bizj.us/1p4eil
(© 2017 American City Business Journals. All rights reserved.)