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The past week or so has been a wild and negative ride for investors of Legacy Reserves (LGCY). The oil and gas E&P firm took a beating after news broke that the business was exploring ‘strategic alternatives.’ Not only have common shares plummeted, bond prices have as well, with some market watchers prognosticating that the business’s days are limited. What is undeniable right now is that we are in an uncharted territory for Legacy and while the fundamentals suggest management has a slew of options at its disposal, risks for the business do