2010-09-15-2010-09-15-2010-09-15

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
15MM
Description

Bought three properties in Permian Basin and WY, gaining 220 BOE/d, 1 MMBOE proved.

Legacy Reserves LP, Midland, Texas, (Nasdaq: LGCY) has acquired three oil and gas properties in the Permian Basin and Wyoming and plans to purchase additional Permian Basin properties for a total $14.9 million.

The majority of the assets are in the Permian. Production is approximately 220 barrels of oil equivalent per day (79% oil and natural gas liquids). Proved reserves are approximately 1 million barrels equivalent (76% Permian, 93% proved developed producing).

After closing, Legacy will have acquired approximately $173 million of oil and gas properties during 2010.

Legacy has funded the closed deals and will fund the remaining acquisitions with cash on hand and borrowings from its revolving credit facility.