Lilis Energy, Inc. engages in the exploration, acquisition, drilling and production of oil and gas properties. Its property portfolio includes the Delaware and DJ basins. The firm operates a contiguous acreage block in Loving and Winkler Counties, with additional acreage in Lea County, New Mexico. It focuses on delineating the productive horizons within the Delaware Basin, focusing primarily on the Wolfcamp, Bone Springs, and Avalon. The company was founded in August 2007 and is headquartered in San Antonio, TX.