Lilis Energy, Inc., an exploration and development company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that the Prizehog #2H, Wildhog #2H, Howell #1H and Antelope #1H have reached 24-hour initial production rates. Lilis also announced that it is raising its year-end exit rate production guidance to 8,000 net Boepd from 7,500 net Boepd and will continue evaluating further potential increases as additional well data is received.

Lilis Energy's Chairman and CEO, Ronald D. Ormand, commented:
"We are pleased to report additional strong well results, which further validate our Delaware Basin acreage in the Permian. We have completed successful wells in the eastern part of our acreage, in New Mexico and in additional benches including the Wolfcamp A, XY and 3rd Bone Spring. We are extremely pleased with all of these results which continue our strategy to delineate our acreage geographically and geologically with additional data points on newly drilled benches in 2018. The Prizehog #2H, our first Wolfcamp A well, registered the highest IP 24 we've completed in New Mexico to date; and the Wildhog #2H further validates the Wolfcamp XY in our eastern New Mexico acreage. In our eastern Texas acreage, we've completed our easternmost well, the Howell #1H, in the Wolfcamp XY, and completed our first Bone Spring well, the Antelope #1H in the 3rd Bone Spring. We are at the beginning of our delineation program with initial well results from several benches and we are continually learning from our drilling and technical work. We expect to continue improving the overall efficiency and productivity of our wells as we further evaluate and develop these additional benches.

"Our drilling program in the second half of 2018 will almost exclusively target 1.5-mile laterals. With more wells drilling and in completion and based on the success of our drilling program to date in 2018, we are on track to meet and exceed our previously stated year-end exit rate of 7,500 net Boepd. Therefore, we are raising our exit rate production guidance target to 8,000 net Boepd. We will continue to monitor our exit rate guidance throughout 2018 as we are confident of meeting and exceeding our revised target."