Lilis Energy Inc. agreed to buy more than 4,000 net acres in the core of the Delaware Basin from an undisclosed private seller for about $45.6 million, boosting its position in the basin to over 15,000 net acres.
The acreage is contiguous or overlapping with multiple stacked pay zones, according to an Oct. 4 news release. The acquisition added more than 150 net potential locations to Lilis' inventory.
The deal is scheduled to close in November. Lilis Energy is an exploration and development company with operations in the Permian Basin of west Texas.