Quarterly / Earnings Reports | First Quarter (1Q) Update | Production Rates
Wolfcamp B Wells Drive Lilis Energy Production up 270%
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Lilis Energy reported its Q1 2018 results.
Highlights:- Lilis' production during the quarter ended March 31, 2018 increased from 84,334 BOE in 2017 to 311,882 BOE in 2018, an increase of 270%. This increase in production was primarily attributable to wells placed on production in the Delaware Basin after March 31, 2017.
"We are currently negotiating a new crude gathering and transportation agreement which we expect to finalize in the near future. The new agreement will allow the Company to have gathering and transportation access to Gulf Coastspan> markets."
Moving into the second half of the year, the Company will focus its drilling efforts on longer laterals, including 1 ½ mile wells yielding higher EUR’s and higher internal rates of return.
Well ActivityLilis drilled five and compl…
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