ProfitQuotes.com
symbol lookup  commodity list
Bookmark This Page
Advertise on ProfitQuotes.com
Daily Dividend Report: ORCL, LMT, KR, NRZ, SRE, MAS, PNW, AIT

Thu, 22 Jun 17:36:32 GMT
Tuesday's ETF Movers: XBI, IXC

Tue, 20 Jun 17:12:41 GMT
Portfolio Channel
Free Energy Dividend Stock Report
Free Dividend Report - Top Ranked Stocks
Free Dividend Paying Gold/Metals Stocks Report
Get a quote box (like the one below) for your site!
ProfitQuotes.com Commodities Quotes
commodity quotes list
energy quotes  gold quotes
uranium stocks  
solar power stocks

wind power stocks

Industry focus:

advertising stocks,
space stocks,
aerospace stock,
aerospace sector,
list of aerospace companies,
largest chemical companies,
chemical stock,
chemical news,
best agriculture stocks,
ag stocks,
chinese agriculture stocks,
top agriculture companies,
agriculture stocks,
agricultural stocks,
agricultural stock,
stocks agriculture,
agriculture markets,
agriculture index,
agriculture industries,
agricultural investment,
agriculture investment,
agricultural industry,
farm stock,
airline stock symbols,
airline stock prices,
airline stock,
airlines stock,
clothing stock,
fashion stocks,
publicly traded fashion companies,
clothing company stocks,
apparel stock,
apparel companies,
application software stocks,
asset management stocks,
auto stocks,
auto industry stocks,
chinese auto stocks,
auto stock prices,
automotive stock,
auto parts stocks,
community bank stocks,
regional bank stocks,
canadian bank stocks,
banking stock,
national bank stocks,
commercial bank stock,
banks stock,
bank stock quote,
bank stocks,
banking industry,
alcohol stocks,
beverage stock,
global wine stocks,
wine stocks,
liquor stock,
biotech stocks list,
biotechnology investing,
public biotech companies,
top biotech stocks,
nanotechnology stock,
largest biotech companies,
biotechnology stock,
biotech investing,
investing in biotech,
best biotech companies,
bio stocks,
biotech sector,
biotechnology investment,
biopharma companies,
new biotech companies,
biotech investment,
biotechnology industries,
nanotech stocks,
biotech stocks,
biotechnology articles,
biotechnology news,
business stocks,
service stocks,
chemical companies,
chemical industries,
chemical industry,
chemical company,
chemicals company,
cigarette stock,
cigarette company stocks,
cigarette stock symbols,
tobacco company stocks,
tobacco stock,
cigar stocks,
communications stocks,
communication stock,
computer peripherals companies,
computer peripherals,
computers stocks,
computer stock,
computer web,
internet stocks,
construction stocks,
machinery stocks,
builders stocks,
building stocks,
consumer goods stocks,
consumer services stocks,
consumer services companies,
lending stocks,
mortgage banking,
lending companies,
mortgage bankers,
loan services,
mortgage services,
mortgage bank,
loan bank,
defense stocks,
defensive stock,
department store stocks,
diagnostic company,
diagnostic companies,
pharmaceuticals stocks,
drug stocks,
drug company stocks,
pharma stock,
education stocks,
college stock,
electric utility stocks,
electric company stocks,
electric utilities stocks,
utility stocks,
utilities stocks,
power equipment companies,
electrical supply companies,
electronic stocks,
entertainment stock,
movie stocks,
movies companies,
movie company,
cefs,
open ended and closed ended mutual funds,
closed ended investment,
closed ended fund,
bonds fund,
closed end,
food stock,
game stock,
gambling stocks,
casino stocks,
gaming stocks list,
gaming stocks,
gas utility companies,
gas company stocks,
construction industries,
builders contractors,
construction services,
construction industry,
grocery store stocks,
supermarket stock,
drug store stocks,
home stocks,
furniture stock,
home improvement stocks,
medical company stocks,
top medical stocks,
medical stock,
hospital stock,
medical supply stocks,
medical technology stocks,
medical device stocks,
medical equipment stocks,
copper mining,
palladium mining stocks,
mining metals,
mining,
mining news,
gold exploration,
mining share price,
lithium mines,
mining industries,
international mining companies,
mining information,
molybdenum mining companies,
nickel mining companies,
metals and mining stocks,
gold and silver mining stocks,
copper mining companies,
rare earth mining companies,
rare metals stocks,
rare earth stocks,
metals stocks,
welding stock,
nonprecious metals,
non metallic mining,
office supplies companies,
office supply companies,
oil services stocks,
oil pipeline stocks,
gas pipeline stocks,
gas pipeline companies,
pipeline companies,
natural gas pipeline companies,
oil services companies,
oil field services,
oil service stocks,
natural gas pipelines,
oilfield service companies,
oil and gas pipeline companies,
oil gas pipeline,
oil exploration stocks,
oil exploration sector,
oil exploration companies,
oil drilling stocks,
oil drilling companies,
oil production companies,
china oil companies,
brazil oil companies,
china oil stocks,
brazil oil stocks,
oil companies,
oil stocks,
oil drilling,
oil exploration,
offshore oil drilling companies,
list of oil drilling companies,
oil and gas exploration,
oil and gas drilling,
oil and gas stocks,
oil and gas drilling companies,
oil refining companies,
oil marketing companies,
oil refining stocks,
oil refining sector,
oil refinery companies,
oil refinery stocks,
major oil companies,
oil sector,
oil refinery,
oil refinery company,
oil company,
oil marketing company,
oil refining company,
oil refining industry,
major oil companies list,
oil and gas companies,
crude oil stocks,
packaging companies,
container companies,
packaging stocks,
packaging sector,
container sector,
pulp stocks,
paper stocks,
timber stocks,
pulp companies,
paper companies,
timber companies,
timber trusts,
cardboard companies,
paper sector,
timber sector,
paper companies list,
silver mining companies,
gold mining companies,
gold mining sector,
precious metal stocks,
mining companies,
exploration sector,
mining sector,
exploration stocks,
mining stocks,
silver stocks,
gold stocks,
gold mining stocks,
silver mining stocks,
silver mining company,
canadian mining companies,
gold mining,
gold mining company,
mining company,
list of mining companies,
gold stocks list,
largest gold mining companies,
silver mining,
printing companies,
printing stocks,
printing sector,
newspaper stocks,
newspaper sector,
newspaper companies,
publishing stocks,
publishing sector,
publishing companies,
digital media companies,
digital media stocks,
digital media sector,
book publishing companies,
digital media company,
publishing company,
railroad stocks,
railroad sector,
railroad companies,
railroad company,
railroad investment,
major railroad companies,
real estate companies,
real estate stock,
real estate public companies,
real estate investing,
real estate investments,
real estate sector,
commercial real estate investing,
real estate investment firms,
real estate investing guide,
REITs,
real estate investment trust,
REIT sector,
REIT stocks,
REITs sector,
REITs stock,
public REITs,
real estate investment trusts,
real estate investment trust companies,
real estate investment trusts REITs,
real estate investment companies,
real estate investment company,
real estate investment trust REIT,
rubber stocks,
plastic stocks,
rubber companies,
plastic companies,
rubber sector,
plastic sector,
plastic manufacturing companies,
rubber company,
plastic company,
semiconductor stocks,
semiconductor investments,
semi stocks,
semiconductor companies,
semiconductor sector,
shipping stocks,
dry bulk stocks,
container stocks,
dry bulk shipping,
dry bulk shipping companies,
tanker stocks,
shipping companies,
shipping sector,
specialty retail,
retail stocks,
retail investing,
retail store stocks,
consumer stocks,
consumer investment,
retail companies,
retail sector,
sports stocks,
sports investing,
sporting goods stocks,
sports investments,
sporting goods companies,
sporting goods sector,
stock message boards,
television stocks,
television investment,
radio stocks,
radio invest,
media stocks,
media invest,
media investment,
media investing,
television companies,
television sector,
radio sector,
radio companies,
media companies,
media sector,
textile stocks,
apparel stocks,
textile investment,
textile companies,
textile sector,
apparel sector,
freight investment,
transportation investment,
truck investment ,
freight stocks,
transportation stocks,
trucking stocks,
trucking companies,
trucking sector,
waste management stocks,
waste stocks,
recycling stocks,
waste investment,
waste companies,
waste sector,
water stocks,
water utilities,
water investing,
water investment,
water companies,
water sector

Home Oil & Gas Electricity Metals Treasuries Stocks Coal My Portfolios Forex
News - Full Story
 Related Quotes
 Lilis Energy INC.COMMON Stock  4.77   0.14  2.85%
 Enter Symbols: 
Lilis Energy Announces Industry Leading Flow Rates Per 1,000' Lateral Feet, Operational And Leasehold Acquisition Updates And Sets 2017 Preliminary Drilling And Completion Capital Budget
THE BISON #1H RECENT 24-HR RATE OF 2,375 BOEPD, 6,987 ft LATERALTHE GRIZZLY #1H RECENT 24-HR RATE OF 1,666 BOEPD, 4,103 ft LATERAL

ADVERTISEMENT [ how to become an advertiser ]
SAN ANTONIO, March 15, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NASDAQ: LLEX) ("Lilis" or "Company") announces the following highlights:

  • The Company's first two operated horizontal wells, the Bison #1H and the Grizzly #1H, are producing industry leading flow rates with each over 340 boepd per 1,000' lateral feet
  • The Company's current Delaware Basin leasehold exceeds 7,000 net acres, an increase of over 100% since initially entering the Delaware Basin
  • Sets preliminary 2017 drilling and completion budget of approximately $45 million to drill 10 gross 8 net wells
  • Bison and Grizzly well results exceed type curve estimates
  • Recently uplisted and began trading on the NASDAQ on March 14, 2017

Industry Leading Well Results and Operational Highlights:

Lilis recently drilled and completed its first two operated horizontal Wolfcamp B wells with IP rates significantly exceeding the expected type curve. The Company recently spudded a third operated horizontal well. The highlights of Lilis's recent well results are as follows:

Currently on Production:

  • The Bison #1H was turned to sales on January 19, 2017 and had a recent 24-hr rate of 2,128 Boepd (2,375 Boepd on a three-stream basis) (75% liquids) or 344 Boepd per 1,000' lateral feet. The well has been online for 55 days and is currently producing on a restricted choke with more than 1,800 lbs of flowing tubing pressure. The Bison's 6,897-foot lateral was completed with 35 stages (200-foot plug to plug spacing) with approximately 2,200 lbs of sand per foot. The Bison #1H is currently performing above the 923 Mboe corporate type curve for a mile and a half lateral and has not yet reached a peak 30-day initial production rate.
  • The Grizzly #1H well was turned to sales on February 9, 2017 and had a recent 24-hr rate of 1,392 Boepd (1,666 Boepd on a three-stream basis) Boepd (65% liquids) or 406 Boepd per 1,000' lateral feet. The well has been online for 34 days and is currently producing on a restricted choke with more than 1,850 lbs of flowing tubing pressure. The Grizzly's 4,103-foot lateral was completed with 20 stages (200-foot plug to plug spacing) with approximately 2,200 lbs of sand per foot. The Grizzly #1H is currently performing above the 738 Mboe corporate type curve for a one mile lateral and has not yet reached a peak 30-day initial production rate.

Currently Drilling:

  • The Hippo #1H well is currently at a total depth of 16,580 feet measured depth ("MD") and is scheduled for hydraulic fracturing next week. The well is anticipated to have a 4,000-foot treatable lateral completed with 20 stages (200-foot plug to plug spacing) with 2,200 lbs of sand per foot.

Planned Drilling:

  • The Lion #1H well is scheduling to begin drilling March 21, 2017. The well is anticipated to have a 4,000-foot treatable lateral completed with 20 stages.

Lease Acquisition Update

Lilis continues to aggressively seek opportunities to enhance its position in the Delaware Basin, and has increased its leasehold position from the initial acquisition footprint of approximately 3,500 net acres to over 7,000 net acres, an increase of over 100%. Lilis expects to continue to build on its position throughout the Delaware Basin to effectively meet its development goals.

2017 Full Year Preliminary Drilling & Completion Capital Budget ("CAPEX")

The Company also announced today a preliminary 2017 drilling and completion capital budget of approximately $45 million to drill 10 gross (8 net) wells, primarily targeting the Wolfcamp B. Based on recent offset operator activity that continues to derisk and delineate multiple benches prospective across its acreage position Lilis may elect to drill additional zones in the second half of 2017. The Company plans to continue upgrading its existing infrastructure which could include the drilling of additional water wells and salt water disposal wells in support of the Company's ongoing expansion and development of its horizontal drilling program.

Funding for the drilling and completion budget through December 2017 is expected to come from cash on hand, cash flow from operations and availability under the Company's $50 million term facility.

The 2017 capital program is subject to changes based upon market conditions, commodity prices, rig availability, drilling results, possible acquisition opportunities and general operational results. The Company continues to look for acquisition opportunities but has not included a provision for those opportunities in its preliminary capital budget.

Lilis' Chief Executive Officer, Mr. Avi Mirman, remarked, "It has been an active last nine months for Lilis, including completing the acquisition of Brushy Resources in a tumultuous commodity environment back in June 2016; closing on two above-market equity financings and a term loan facility; hiring a high-performing and motivated team across key departments; over 100% increase in our contiguous net acreage position; listing on the NASDAQ; and now production results that exceed our expectations. To drill two successful Wolfcamp B wells on our first operated efforts is a real testament to the technical talents possessed by our operational team, led by our Chief Operating Officer, Brennan Short, and Senior Geologist, Mary Hughes. The initial results from both the Bison #1H and the Grizzly #1H demonstrate performance well ahead of our internal type curves. We expect 30-day peak rates will be achieved over the next several weeks. Onward"

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin and in the Denver-Julesburg (DJ) Basin, considered amongst the leading resource plays in North America. Lilis Energy's primary business objective is to increase its Delaware Basin leasehold position, reserves, production and cash flows at attractive rates of return on invested capital in order to enhance shareholder value. For more information, please contact CORE IR: (516) 222-2560 or visit www.lilisenergy.com.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to our ability to replicate the results described in this release for future wells; the ability to finance our continued exploration, drilling operations and working capital needs, all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the "SEC"). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that meet the SEC's definitions for such terms, and price and cost sensitivities for such reserves, and prohibits disclosure of resources that do not constitute such reserves. This press release contains certain terms, such as recoverable resource, risk and unrisked locations and other similar terms. These estimates are by their nature more speculative than estimates of proved, probable and possible reserves and accordingly are subject to substantially greater risk of being actually realized. Investors are urged to consider closely the disclosure in our Annual Report on Form 10-K and other SEC filings.

Readers are cautioned that initial production rates are subject to decline over time and should not be regarded as reflective of sustained production levels. In particular, production from horizontal drilling in shale oil and natural gas resource plays and tight natural gas plays that are stimulated with extensive pressure fracturing are typically characterized by significant early declines in production rates.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lilis-energy-announces-industry-leading-flow-rates-per-1000-lateral-feet-operational-and-leasehold-acquisition-updates-and-sets-2017-preliminary-drilling-and-completion-capital-budget-300424024.html

SOURCE Lilis Energy, Inc.

<  back


TickerTech.com Private-label branded pages powered by TickerTech.com. Copyright © 2017 Ticker Technologies, All Rights Reserved. Quote data is at least 20 minutes delayed. NYMEX/COMEX data is at least 30 minutes delayed. Please read other important disclaimer information.

"There's no such thing as business ethics; there's just ethics. And ethics makes no concessions for the real or imagined necessities of making a profit." - Michael Josephson
Google
 

© Ticker Technologies, all rights reserved. Profitquotes.com is wholly owned by Ticker Technologies and serves to demonstrate the company's products to prospective clients. All quotes are in US Eastern Time (EST) and delayed at least 15 minutes. NYMEX/COMEX data delayed at least 30 minutes. Data is presented for informational purposes only and not intended for investment purposes. Nothing on this site should be considered advice, opinions, recommendations, or endorsements from ProfitQuotes.com or Ticker Technologies, Inc. Full Disclaimer.