Lilis Energy, Inc. reported operating and sales results for the full year ended December 31, 2019. Production during the year ended December 31, 2019, increased from 1,812 MBoe in 2018 to 1,862 MBoe in 2019, an increase of 3%. This increase in production was primarily attributable to 7 additional gross wells being completed and placed on production. The Company ended the year with two 2019 drilled uncompleted wells. The company increased net sales production by 3% to 5,102 Boe/d for 2019 as compared to 2018. This increase was achieved despite planned shut-ins during the second and third quarters of 2019 and the suspension of drilling and completions program during the fourth quarter of 2019. The company's average net sales production for 2019 of 5,102 Boe/d was consistent with guidance for the year.

The company reported impairment charges for the fourth quarter ended December 31, 2019. For the quarter, the company reported impairment of oil and gas properties of $210,016,000.