{ "market" : {"NAME" : "U.S.", "ID" : "us_market", "TZ" : "ET", "TZOFFSET" : "-18000", "open" : "1259159441", "close" : "1259182841", "flags" : {}} , "STREAMER_SERVER" : "http://streamerapi.finance.yahoo.com","arrowAsChangeSign" : false,"throttleInterval": "1000"}
globenewswire

Legacy Reserves LP Announces Affirmation of Borrowing Base

  • Press Release
  • Source: Legacy Reserves LP
  • On 7:26 pm EDT, Monday September 28, 2009

MIDLAND, Texas, Sept. 28, 2009 (GLOBE NEWSWIRE) -- Legacy Reserves LP ("Legacy") (Nasdaq:LGCY - News) today announced that its bank group has completed its semi-annual redetermination of the borrowing base applicable to Legacy's revolving credit facility. BNP Paribas, Legacy's Agent Bank, has notified Legacy that it has received approval from the lenders under the credit facility to maintain the borrowing base at the existing $340 million level. The next borrowing base review is scheduled for April 1, 2010. Legacy's borrowing capacity under its credit facility is currently $110 million.

About Legacy Reserves LP

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.

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

Contact:

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

Related Headlines

Top Stories

Related Message Boards

Sponsored Links

Copyright © 2009 GlobeNewswire. All rights reserved. Redistribution of this content is expressly prohibited without prior written consent. GlobeNewswire makes no claims concerning the accuracy or validity of the information, and shall not be held liable for any errors, delays, omissions or use thereof.