Lilis Energy Inc. entered bankruptcy in June 2020 with a prepackaged restructuring plan that would have provided it with options that included a path to operating as a private company. 

Instead, the oil and gas company will exit into the ether after funding fell through leading it to initiate a court-supervised sales process.

In November, Ameredev Texas LLC was named as the winning bidder to acquire substantially all company assets for $46.6 million. Lilis Energy said on Dec. 2 that it had closed the sale of its Permian Basin assets in West Texas and southeastern New Mexico.

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