Recovery Energy Inc. (Nasdaq:RECV) is changing its corporate name to Lilis Energy Inc. The new corporate CUSIP number is 532403 102. The company's new ticker symbol will be LLEX, trading on NASDAQ, and is scheduled to take effect on Dec. 2.
Recovery Energy is an oil and gas exploration and production company focused on development in the Wattenberg field and surrounding areas of the Denver-Julesburg (DJ) Basin, where it holds 112,000 net acres.
"We have narrowed and refocused our E&P efforts to unconventional development of our primary de-risked Wattenberg prospects in the DJ Basin, and wanted to change our name to reflect a shift in corporate countenance," said Avi Mirman, Recovery Energy's president.