Lilis Energy Inc. (NASDAQ: LLEX) has entered into an agreement to merge with Brushy Resources Inc., the Denver company said in a Dec. 29 filing with the Securities and Exchange Commission (SEC).
Pursuant to the agreement, each outstanding share of Brushy common stock will be exchanged for about 4.3257 shares of Lilis common stock.
Brushy, formerly known as Starboard Resources LLC, is based in San Antonio. The company has operations in South Texas' Eagle Ford Shale and Oklahoma.
Brushy will continue as the surviving corporation and a direct wholly owned subsidiary of Lilis, according to the SEC filing.
Recommended Reading
For Sale, Again: Oily Northern Midland’s HighPeak Energy
2024-03-08 - The E&P is looking to hitch a ride on heated, renewed Permian Basin M&A.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
Gibson, SOGDC to Develop Oil, Gas Facilities at Industrial Park in Malaysia
2024-02-14 - Sabah Oil & Gas Development Corp. says its collaboration with Gibson Shipbrokers will unlock energy availability for domestic and international markets.
E&P Highlights: Feb. 16, 2024
2024-02-19 - From the mobile offshore production unit arriving at the Nong Yao Field offshore Thailand to approval for the Castorone vessel to resume operations, below is a compilation of the latest headlines in the E&P space.
TotalEnergies Acquires Eagle Ford Interest, Ups Texas NatGas Production
2024-04-08 - TotalEnergies’ 20% interest in the Eagle Ford’s Dorado Field will increase its natural gas production in Texas by 50 MMcf/d in 2024.