|Bid||0.0000 x 1000|
|Ask||0.0000 x 1100|
|Day's Range||0.4215 - 0.4468|
|52 Week Range||0.3800 - 10.5400|
|Beta (3Y Monthly)||-0.01|
|PE Ratio (TTM)||1.05|
|Earnings Date||Oct 30, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.00|
MIDLAND, Texas, April 9, 2019 /PRNewswire/ -- Legacy Reserves Inc. ("Legacy" or the "Company") (LGCY) today disclosed that Baines Creek Partners, L.P.'s ("Baines Creek") notice of director nominations for the Company's 2019 Annual Meeting is invalid for failure to comply with the requirements set forth in Legacy's bylaws. Legacy's bylaws were established for the protection of the Company and all of its stockholders.
U.S. shale producers last year again spent more money than they collected, extending a years-long streak of putting oil output above cash flow and investor returns, according to a Reuters analysis of top independent producers. Total overspending by the group was $6.69 billion in 2018, according to Morningstar data provided to Reuters by the Sightline Institute and the Institute for Energy Economics and Financial Analysis. While total overspending was down slightly from a year earlier, stock prices in the sector have slid at a time when U.S. share prices in general have posted strong gains.
WILMINGTON, Del., March 26, 2019 /PRNewswire/ -- Aedes LLC, a Delaware limited liability company, announced today that it has retained outside counsel in relation to its investment in the unsecured bonds of Legacy Reserves (LGCY) ("Legacy"). On March 13, 2019, Legacy issued a press release stating "Legacy Reserves Inc. Announces Review of Strategic Alternatives." The press release explained that Legacy has retained legal and financial advisors to explore its strategic alternatives and invited proposals from interested stakeholders as well as interested outside parties. As such proposals have a high probability of impacting the holders of Legacy's unsecured bonds, Aedes retained counsel with a high degree of expertise in restructuring matters to guide it during this period. Aedes hopes for a transparent process that takes into account the legitimate interests of all holders of Legacy's unsecured bonds. Other proposals in the E&P space have occasionally contained plan elements that prevent the full participation by all bond holders. Such limitations can stem from preferential plan elements, exclusive financings or technical specifications of new instruments which limit participation.
Legacy Reserves LP is an upstream limited partnership which acquires and exploits oil and natural gas properties located in the Permian Basin, Mid-continent, East Texas and Rocky Mountain regions of the United States. Warning! GuruFocus has detected 6 Warning Signs with LGCY. For the last quarter Legacy Reserves Inc reported a revenue of $132.9 million, compared with the revenue of $137.1 million during the same period a year ago.
Investors need to pay close attention to Legacy Reserves (LGCY) stock based on the movements in the options market lately.
MIDLAND, Texas , March 18, 2019 /PRNewswire/ -- Legacy Reserves Inc. ("Legacy") (NASDAQ: LGCY) today announced the 2018 fourth quarter and year-end results. These results are subject to the completion ...
MIDLAND, Texas, March 13, 2019 /PRNewswire/ -- Legacy Reserves Inc. ("Legacy") (LGCY) today announced that it is evaluating and exploring potential strategic alternatives. Legacy continues to work with the administrative agent and the other lenders under its Revolving Credit Facility to extend the maturity of the Facility. Legacy has engaged Tudor Pickering & Holt L.P. and Perella Weinberg Partners L.P. as financial advisors, and Sidley Austin LLP as outside legal counsel.
Mr. Norris has over 15 years of experience in the energy industry. Prior to joining Legacy, Mr. Norris served as a Principal at The Catalyst Group, an Austin-based private equity fund, where he was responsible for sourcing and evaluating potential investment opportunities, structuring and negotiating transactions, leading due diligence and managing portfolio investments including several in the oil and gas industry. Previously, Mr. Norris served in various senior strategy and corporate development roles at Oil States International, Inc. and its spin-off, Civeo Corporation. He earned an MBA and a B.A. in economics from The University of Texas at Austin.
Concurrently, Moody's affirmed Legacy's SGL-4 Speculative Grade Liquidity Rating. The downgrade of Legacy's ratings to Caa3 reflects the company's weak liquidity, high leverage and significant debt refinancing risk. Legacy has cumulatively repurchased or exchanged a significant amount of its senior notes since 2015, but the company's debt balances remain high and now have a significant amount of secured debt in the capital structure.
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MIDLAND, Texas , Nov. 28, 2018 /PRNewswire/ -- Legacy Reserves Inc. ("Legacy") (NASDAQ:LGCY) announced today that Dan Westcott , President and Chief Financial Officer, and Kyle Hammond , Executive ...
MIDLAND, Texas , Oct. 31, 2018 /PRNewswire/ -- Legacy Reserves Inc. ("Legacy") (NASDAQ:LGCY) today announced 2018 third quarter results including the following highlights: Completed our corporate ...
MIDLAND, Texas , Oct. 31, 2018 /PRNewswire/ -- Legacy Reserves, Inc. ("Legacy" or the "Company") (NASDAQ:LGCY) today announced several changes to its senior management. Paul T. Horne ...
HOUSTON , Oct. 23, 2018 /PRNewswire/ -- H2O Midstream today announced the execution of a long-term water services agreement with a subsidiary of Legacy Reserves Inc. ("Legacy") (NASDAQ: LGCY). ...
MIDLAND, Texas , Oct. 17, 2018 /PRNewswire/ -- Legacy Reserves Inc. ("Legacy") (Nasdaq:LGCY) today announced it will provide details of its third quarter 2018 operating and financial performance ...
MIDLAND, Texas, Oct. 8, 2018 /PRNewswire/ -- Legacy Reserves Inc. ("Legacy") (LGCY) announced today that Dwight Scott, Senior Managing Director of The Blackstone Group L.P. and President of GSO Capital Partners LP ("GSO"), has resigned from Legacy's Board of Directors effective immediately, and, in conjunction, GSO has relinquished its Board nomination right. The Company also announced that Doug York has been appointed to Legacy's Board. Paul T. Horne, the Chairman of the Board and Chief Executive Officer of Legacy, commented, "We thank Dwight for his keen insight and thoughtful approach on our Board and look forward to his continued support of the company. GSO has been a committed investor and, through their capital investment and idea generation, has assisted us in our transition out of the MLP and into the C-Corp sector.
MIDLAND, Texas, Sept. 20, 2018 /PRNewswire/ -- Legacy Reserves Inc. ("Legacy") and Legacy Reserves LP (the "Partnership") (LGCY) announced today the completion of the previously announced corporate reorganization of the Partnership, pursuant to which the unitholders and holders of preferred units of the Partnership became stockholders of Legacy, which will be a publicly-traded corporation (the "Transaction"). At the Partnership's special meeting held on September 19, 2018, unitholders approved the merger agreement with approximately 99% of the votes cast.
MIDLAND, Texas , Sept. 14, 2018 /PRNewswire/ -- Legacy Reserves LP ("Legacy") (NASDAQ:LGCY) today announces that Legacy, Legacy Reserves Finance Corporation (together with Legacy, the "Issuers") ...
DALLAS , Sept. 14, 2018 /PRNewswire/ -- Alerian announced the results of the September quarterly review for the Alerian Index Series. All changes will be implemented as of the close of business on Friday, ...
MIDLAND, Texas, Sept. 12, 2018 /PRNewswire/ -- Legacy Reserves LP ("Legacy") (LGCY) today announced that the Delaware Chancery Court (the "Court") has granted final approval of the previously-announced merger litigation settlement agreement. Under the agreement, holders of outstanding 8% Series A Preferred Units and 8% Series B Preferred Units will receive in the Transaction (as defined below) approximately 10,730,000 shares of common stock in Legacy Reserves Inc. ("New Legacy") in addition to the approximately 16,913,592 shares those holders would collectively have received pursuant to the exchange ratios that were included in the merger agreement initially entered into in connection with the Transaction.
Legacy Reserves LP is a master limited partnership headquartered in Midland, Texas, focused on the development of oil and natural gas properties primarily located in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions of the United States. Additional information is available at www.LegacyLP.com. This press release relates to the proposed corporate reorganization between Legacy and Legacy Reserves Inc. ("New Legacy") (the "Transaction").