Ex-Denver oil and gas company sells off Colorado assets

DENVER BUSINESS JOURNAL - 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.)


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment