Lilis Energy gets extension of milestones under DIP credit agreement

By Sarah Lizee

Olympia, Wash., Oct. 30 – Lilis Energy, Inc. amended its debtor-in-possession credit agreement with BMO Harris Bank, NA as administrative agent on Thursday to amend the covenant relating to certain Chapter 11 milestones, according to an 8-K filing with the Securities and Exchange Commission.

Specifically, the amendment extends the date by which an auction must have occurred if the debtors have received more than one qualifying bid and the date by which an approved sale is required to close.

The new deadlines were not specified in the 8-K.

Lilis is a Fort Worth-based independent oil and gas exploration and production company that operates in the Permian’s Delaware Basin. The company filed bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas on June 28 under Chapter 11 case number 20-33274.

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