Ameredev Texas LLC completed the acquisition of Substantially All Assets of Lilis Energy, Inc.

Ameredev Texas LLC entered into letter of intent to acquire Substantially All Assets of Lilis Energy, Inc. for $46.6 million on November 8, 2020. As of November 16, 2020, Ameredev Texas LLC entered into definitive agreement to acquire Substantially all assets of Lilis Energy, Inc. for $46.6 million. As a part of agreement, Ameredev Texas will deposit $5 million with the Lilis Energy prior to the closing date. The deposit to be held by Lilis Energy in accordance with the terms of this agreement. The transaction will be subject to approval by the Bankruptcy Court and certain other closing conditions. The transaction is expected to close on or around December 1, 2020. Harry A. Perrin, David S. Meyer and George R. Howard of Vinson & Elkins LLP acted as legal advisors to Lilis Energy. Austin T. Lee, Jason G. Cohen, Matt Paulson and Steven J. Lorch of Bracewell LLP served as legal advisor to Ameredev. Barclays Capital Inc. acted as investment banker and Opportune LLP acted as restructuring advisor to Lilis Energy, Inc. Ameredev Texas LLC completed the acquisition of Substantially All Assets of Lilis Energy, Inc. on December 2, 2020.