Lilis Energy Inc. filed for Chapter 11 bankruptcy on June 29, succumbing to bankruptcy following months of struggling with its debt payments.

The filing follows a string of U.S. oil and gas companies that have gone bankrupt since the market collapse related to COVID-19. However, Lilis’ troubles precede the current downturn.

Lilis Energy is a Fort Worth-based independent E&P with a roughly 20,000-acre position in the Permian’s Delaware Basin. 

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