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Lilis Touts Delaware Basin IPs; Proved Reserves Jump Over 750% from 2016
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Lilis has reported its Q2 2017 results. Highlights include:
- Significant Increase in Proved Reserves: Up to 10.4 MMBOE, a 767% increase since year-end 2016
Latest Delaware Basin IPs up to 2,375 BOEPDAll well completions exceeded Lilis' projections:
Jim Linville, Lilis's CEO, commented: "Our first three wells exceeded internal projections and we are confident that our fourth well, the Lion, is on track to repeat similar results."
The Bison #1H was turned to sales on January 19, 2017 and had a 24-hour rate of 2,375 BOE/D (75% liquids) or 344 BOE/D per 1,000 lateral ft. The Grizzly #1H was turned to sales on February 9, 2017 and had a 24-hour rate of 1,666 BOE/D (65% liquids) or 406 BOE/D per 1,000 lateral ft. The Hippo #1H was turned to sales on April 14, 2017 and had a 24-hour rate…- ✓ Full news archive — U.S., Canada & international coverage
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