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home / news releases / LGCY - Legacy Reserves: Realistic Options Include Bankruptcy Or Major Asset Sales

LGCY - Legacy Reserves: Realistic Options Include Bankruptcy Or Major Asset Sales

Legacy Reserves

I don't believe that reducing Legacy Reserves's (LGCY) unsecured debt will help it to extend its credit facility maturity further. The best chance for Legacy to avoid a bankruptcy filing is probably selling assets to pay down its credit facility. However, while the environment for Permian asset sales is improving, Legacy's scattered acreage and heavy development of its largest contiguous parcels will prevent Legacy from achieving the high end values cited for some Permian acreage.

Credit Facility Issues

I remain fairly skeptical that Legacy has a way out of its credit facility issues

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Stock Information
Company Name: Legacy Reserves
Stock Symbol: LGCY
Market: NASDAQ
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