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Lilis Energy Announces Grizzly #2H And Lion #3H IP24 Rate
March 27, 2018
The Grizzly #2H reached an IP 24 rate of 1,576 Boepd (73% liquids), on a three-stream basis, equivalent to 333 Boepd per 1,000 ft. The Grizzly #2H was completed as a 4,734 ft. lateral with 24 stages using 197 ft. plug-to-plug spacing and approximately 1,956 lbs. of sand per ft.
The Lion #3H reached an IP24 rate of 1,756 Boepd (65% liquids), on a three-stream basis, equivalent to 373 Boepd per 1,000 ft. The Lion #3H was completed as a 4,701 ft. lateral with 22 stages using 213 ft. plug-to-plug spacing and approximately 1,966 lbs. of sand per ft.
The Grizzly #2H and the Lion #3H both continue the trend of Lilis producing some of the highest IP rates based on an IP per 1,000 ft. in the basin.
As recently discussed, the drilling program in 2018 will focus on the delineation of our acreage, both geographically and geologically. Lilis is also currently in various stages of completing / flowing back five wells, including:
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to our ability to replicate the results described in this release for future wells; the ability to finance our continued exploration, drilling operations and working capital needs; our anticipated future cash flows and ability to access other sources of liquidity; all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the
Wobbe Ploegsma, V.P. Finance & Capital Markets, 210-999-5400, ext. 31