Lilis Energy, Inc. is an upstream independent oil and gas company. The Company is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects. The Company drills for, operates and produces oil and natural gas wells through its land holdings located in Wyoming, Colorado, and Nebraska. Its total net acreage in the Denver-Julesburg (DJ) Basin is approximately 14,000 acres. In addition to its DJ Basin holdings, it focuses on the Permian's Delaware Basin in Winkler and Loving Counties, Texas and Lea County, New Mexico, with approximately 3,460 net acres and over 500 potential drilling locations, including over 320 in the Wolfcamp formation. Its daily production at Permian's Delaware Basin is approximately 470 Barrels of oil equivalent per day (BOE/D). It holds interests in approximately 16,000 net leasehold acres, of which over 8,000 net acres are classified as undeveloped acreage and all of which are located in Colorado, Wyoming and Nebraska.