One-Page Deal Sheet
Lilis Sells Permian Basin Royalty for $56 Million
Not Disclosed Lilis Energy Inc.
Announced Date
July 31,2019
Effective Date
July 01,2019
Close Date
July 31,2019
Transaction Type
Royalty
Enterprise Value (EV)($MM)
56
Transaction Details: Subscribe to see
On July 31, 2019, Lilis Energy successfully completed an overriding royalty and working interest transaction (the “ORRI and WI Transaction”) and an asset sale of the “New Mexico P” acreage, a parcel of 513 net undeveloped acres noncontiguous to the Company’s core operational area.
The ORRI and WI Transaction includes a buyback option that gives the Company the right to repurchase the properties at a 1.50x multiple on invested capital within two years and a 1.75x multiple on invested capital after two years but before three years.
The New Mexico P acreage transaction equated to approximately…
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