LGCY News and Press, Legacy Reserves

John Goff is the Chairman and has invested considerable sums in the company. The company is acquiring distressed properties in a buyers market. The proposed merger appears to be "bolt-on" which reduces merger risks considerably. This management has experience in building compa...

Legacy Reserves ( LGCY ) received confirmation of its reorganization plan in mid-November and expects to exit from Chapter 11 by mid-December. Despite shedding a considerable amount of debt via restructuring, Legacy may still face some challenges going forward due to weak natural gas price...

Picture yourself on vacation. You’ve gone backpacking with your buddies in Alaska – a beautiful place but also deep in grizzly bear country. It’s 2 AM, cold and freezing. Suddenly, you hear a rustling outside of your tent followed by some guttural grunting. There is no que...

Legacy Reserves ( LGCY ) is planning on shedding most of its existing debt through its restructuring plan and cancelling its current stock in the process. The post-restructuring Legacy appears to be generally competitive, with net debt under 1.5x EBITDAX and a low-$50s WTI breakeven point. A...

MIDLAND, Texas , June 18, 2019 /PRNewswire/ -- Legacy Reserves Inc. (NASDAQ: LGCY) ("Legacy") announced today that it has, together with its subsidiaries (collectively, the "Company"), commenced voluntary cases under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Cour...

On June 14, the management team at Legacy Reserves ( LGCY ) revealed details of its restructuring activities, ranging from what precisely should happen to various stakeholders to how the firm will finance operations and what the next few years for the oil and gas E&P (exploration and p...

MLPs finished just above flat for the week, while non-MLP midstream stocks were negative, in a pretty quiet market for equities. The Plains All American Pipeline (PAA) investor day and pipeline announcements seemed to move a few stocks this week, but broader midstream focus seems to have retur...

MIDLAND, Texas , June 14, 2019 /PRNewswire/ -- Legacy Reserves Inc. (NASDAQ: LGCY) ("Legacy", and collectively with its subsidiaries, the "Company") announced today that its board of directors has approved, and the Company has executed, a global restructuring support agreement (the "...

Legacy Reserves ( LGCY ) is planning on filing for bankruptcy, having negotiated a restructuring support agreement with its credit facility and second-lien (GSO Capital Partners) lenders. This comes as no surprise, given Legacy's high debt levels and its inability to gain a lengthy extension...

June 11 was a disappointing day for shareholders and perhaps some bondholders in Legacy Reserves ( LGCY ). This is due to the fact that management elected to make a voluntary filing under the US Bankruptcy Code (Chapter 11 for a restructuring), wherein the company has agreed to work with i...