Bracewell acted as corporate and securities counsel to Lilis on its agreement to acquire from OneEnergy Partners, LLC (OEP) approximately 2,798 net acres located in the Delaware Basin in Lea County, New Mexico.
The $70 million purchase price for the transaction consists of $40 million cash and $30 million of Lilis’ common stock. The transaction is expected to close in March 2018, subject to customary closing conditions.
Lilis Energy, Inc. is focused on the acquisition and development of undercapitalized and neglected oil and gas fields located onshore in the United States. The Company, led by Ronald D Ormand, James Linville and Brennan Short, intends to focus on acquisitions in the states of Wyoming, Colorado, Kansas, Oklahoma and Texas.
Bracewell advised with a team including Charles H. Still, Jr. (Picture), Rebecca Keep, Michele J. Alexander, Anna K. Miller, William H. Ebert, Emily A. Banse, Kathy Witty Medford, Tyler C. Lohse and Ryan Davis.
Law Firms: Bracewell;
Clients: Lilis Energy Inc.;