Legacy Reserves LP Announces Closing of Public Offering of Units and Full Exercise of Green Shoe

• Press Release
• Source: Legacy Reserves LP
• On 12:41 pm EDT, Friday September 18, 2009

MIDLAND, Texas, Sept. 18, 2009 (GLOBE NEWSWIRE) -- Legacy Reserves LP (Nasdaq:LGCY - News) today announced it has closed a public offering of an aggregate of 3,795,000 units representing limited partner interests at $15.85 per unit ($15.18 per unit, net of underwriting discount and commissions), including 495,000 units sold to the underwriters pursuant to their option to purchase additional units, which the underwriters exercised in full on September 15, 2009. The partnership intends to use the total net proceeds from the offering, excluding offering expenses, of approximately $57.6 million for general partnership purposes, including potential future acquisitions. Pending the use of the proceeds for other purposes, the partnership intends to apply the net proceeds to reduce outstanding borrowings under the partnership's revolving credit facility.

Related Quotes

Symbol	Price	Change
LGCY	17.53	0.00

{"s" : "lgcy","k" : "c10,l10,p20,t10","o" : "","j" : ""}

Wells Fargo Securities, LLC, Raymond James & Associates, Inc. and RBC Capital Markets Corporation acted as joint book-running managers of the offering. Oppenheimer & Co. Inc., Stifel Nicolaus & Company, Incorporated and Wunderlich Securities, Inc. acted as co-managers of the offering. A copy of the final prospectus supplement and accompanying base prospectus relating to the offering may be obtained from:

 Wells Fargo Securities, LLC
 Attn: Equity Syndicate Dept.
 375 Park Avenue
 New York, New York 10152
 Email: equity.syndicate@wachovia.com
 Telephone: 800-326-5897

 Raymond James & Associates, Inc.
 800 Carillon Parkway
 St. Petersburg, Florida  33716
 Telephone:  (800) 248-8863

 RBC Capital Markets Corporation
 Three World Financial Center
 200 Vesey Street, 8th Floor
 New York, NY 10281-8098
 Attention: Equity Syndicate
 Phone: (212) 428-6670

You may also obtain these documents for free when they are available by visiting the Securities and Exchange Commission's Web site at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there by any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Legacy Reserves LP is an independent oil and natural gas limited partnership headquartered in Midland, Texas, focused on the acquisition and exploitation of oil and natural gas properties primarily located in the Permian Basin of West Texas and southeast New Mexico.

Legacy Reserves LP
Steven H. Pruett, President and Chief Financial Officer
432-689-5200