Brushy’s assets include 3500 acres in Winkler County on the Delaware side of the Permian basin where Lilis hopes to tap stacked tight oil plays including the Wolfcamp Shale that are currently producing about 460 barrels of oil equivalent (47% oil).
Prior to the deal, Brushy will divest its interests in South Texas in the Giddings field to one of its lenders to retire a little more than $20 million debt.
