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January 22, 2013
19:26 EDTLGCYLegacy Reserves increases quarterly distribution to 57c per unit
Legacy Reserves announced that the board of its general partner has approved a cash distribution attributable to 4Q12 of 57c per unit, payable on February 14 to unitholders of record at the close of business on February 1. This quarterly distribution is a 0.5c increase from the prior quarter and represents an annualized distribution of $2.28 per unit. On a year-over-year basis, Legacy's quarterly distribution has increased 3.6%.
News For LGCY From The Last 14 Days
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July 6, 2015
19:01 EDTLGCYOn The Fly: After Hours Movers
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17:01 EDTLGCYLegacy Reserves resumes trading, shares up 3.7% after asset acquisition
16:32 EDTLGCYLegacy Reserves to resume trading at 4:40 pm ET
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16:18 EDTLGCYLegacy Reserves announces $440M acquisition of assets in East Teaxas
Legacy Reserves (LGCY) announced it has entered into separate agreements with affiliates of Anadarko Petroleum (APC) and Western Gas Partners (WES) to purchase natural gas properties and gathering and processing assets in East Texas for a combined $440M. These properties represent Legacy's entry into a new basin in East Texas and into meaningful gathering and processing operations supporting the natural gas properties. The closings of these transactions are expected to occur in the third quarter, and the purchase prices remain subject to customary adjustments. Legacy anticipates funding these transactions with borrowings under its revolver. Highlights of this acquisition are as follows: Estimated proved reserves of approximately 420 Bcfe of which 100% are natural gas, 95% are classified as proved developed producing, and 95% are operated. Estimated Q3 production of approximately 70 Mmcfe/d, yielding a proved reserves-to-production ratio of 16.4 years. Multi-year development plan centered on recompletions and workovers to further flatten production declines and extend the productive life of the fields Significant additional drilling inventory in a higher gas price environment. 567 miles of high-pressure pipeline and low-pressure gathering lines and a 502 Mmcfe/d processing plant with access to 5 major gas markets. Expected NTM cash flow of approximately $60M.
16:01 EDTLGCYLegacy Reserves trading halted, pending news
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