James Linville has been appointed chief executive officer of Lilis Energy Inc., San Antonio, following the resignation of Abraham Mirman as CEO and director of the company.
Linville joined Lilis in June as president (OGJ Online, June 26, 2017). During his 30-year career, he has led oil and gas development projects in the majority of the major unconventional US basins, including in the Permian’s Delaware and Midland basins, for companies including US Energy Development Corp., American Energy Partners LP, and Devon Energy Corp.
“We are well capitalized and our assets in the core of the Delaware basin are consistently delivering strong well results,” commented Linville. “We are also actively reviewing acreage opportunities to continue to grow our leasehold.”
Lilis has 10,000 net acres in the Permian.
Mirman was named as a defendant in a lawsuit from the US Securities and Exchange Commission alleging he participated in a penny stock scheme in 2012, a year before he joined Lilis. He served as Lilis CEO beginning in April 2014.
As part of a separation and consulting agreement, Mirman will receive a lump-sum cash payment of $1 million, premium payments for continuing COBRA coverage for 18 months or until he obtains alternative coverage, and $41,660.67/month to serve as a consultant to the firm until Aug. 5, 2018.