Legacy Reserves LP Announces Public Offering of Units Representing Limited Partner Interests

• Press Release
• Source: Legacy Reserves LP
• On 4:07 pm EDT, Monday September 14, 2009

MIDLAND, Texas, Sept. 14, 2009 (GLOBE NEWSWIRE) -- Legacy Reserves LP (Nasdaq:LGCY - News) today announced that it plans to sell 3,300,000 units in an underwritten public offering pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. The underwriters have been granted a 30-day option to purchase up to 495,000 additional units. Legacy Reserves LP intends to use the net proceeds of this offering, including the net proceeds from any exercise of the underwriters' option to purchase additional units, for general partnership purposes, including potential future acquisitions. Pending the use of the proceeds for other purposes, Legacy Reserves LP intends to apply the net proceeds to reduce outstanding borrowings under its revolving credit facility.

Related Quotes

Symbol	Price	Change
LGCY	17.45	-0.08

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Wells Fargo Securities, LLC, Raymond James & Associates, Inc. and RBC Capital Markets Corporation will act as joint book-running managers of the offering. A copy of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from any of the underwriters, including:

 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 be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to 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 development of oil and natural gas properties primarily located in the Permian Basin and Mid-continent regions of the United States.

The Legacy Reserves logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3201

Statements about the offering may be forward-looking statements as defined under federal law. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of Legacy Reserves LP, and a variety of risks that could cause results to differ materially from those expected by the management of Legacy Reserves LP. Legacy Reserves LP undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

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