Legacy Reserves LP, Midland, (Nasdaq: LGCY) plans to acquire certain producing properties in Texas and New Mexico from two undisclosed private companies for a total of $20.8 million in cash. The assets include 34 operated and 24 nonoperated producing wells in Midland, Upton and Reagan counties of West Texas and Lea and Eddy counties of southeastern New Mexico. Net production is 284 barrels of oil equivalent per day. Proved reserves are approximately 1.44 million barrels equivalent (77% proved developed producing).
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