No small feat for a company previously teetering on the edge of bankruptcy, Lilis’ surge came when they met requirements for NASDAQ re-listing of its common stock … — In a global collapse of oil prices five years ago, scores of American oil companies went bankrupt. It would have been unthinkable a few years ago, but here I explain why the Permian Basin may soon push Saudi Arabia’s Ghawar oilfield as the most prolific in the world. The company currently owns roughly 190,000 net … Shifting its portfolio from Colorado's Piceance Basin to Permian's Delaware basin, the company owns around 135,000 net acres in the oil-rich area. The Permian Basin success story of his company, Lilis Energy, is yet to be written, but Lilis is off to a promising start with a 6,900-acre toehold in the Delaware Basin (as of March 2017) and plans to expand the contiguous acreage to 10,000.

MIDLAND, Tex. Founded in 2008, the company focuses on growth through a combination of acquisitions and active drilling in the lucrative Permian Basin. Unlike other "hot" oil plays such as the Bakken, the Permian contains greater geologic complexity, consisting of several unique sub-basins, each with its own unique characteristics. The problem with the Permian Basin isn't a lack of resources or pipeline capacity or low prices. According to an assessment by the U.S. Geological Survey (USGS) in 1995, the … “The Permian Basin has now become the crown jewel of the world’s oil and gas industry,” said Scott Sheffield, the executive chairman of Pioneer Natural Resources, a large producer in the area.

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