Lilis Energy, Inc. (AMEX:LLEX) entered into a lease acquisition agreement to acquire 4,000 net contiguous/overlapping acres from KEW Drilling for $45.6 million on October 3, 2017. The consideration will be paid in cash and is subject to customary closing adjustments. The consideration will be funded in cash through the $45 million second lien term loan with Varde Partners. The transaction is expected to close in November 2017. As of November 9, 2017, Lilis Energy closed on the initial settlement of approximately 3,200 net acres in Winkler County, Texas for approximately $35.8 million and expects to complete the close of the remaining net acreage in early December 2017. Lilis Energy, Inc. (AMEX:LLEX) completed the acquisition of 4,000 net contiguous/overlapping acres from KEW Drilling on January 4, 2018.