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Press release from GlobeNewswire (a Nasdaq OMX company)

Legacy Reserves LP Announces Pricing of Public Offering of Units Representing Limited Partner Interests

Thursday, November 08, 2012

Legacy Reserves LP Announces Pricing of Public Offering of Units Representing Limited Partner Interests15:21 EST Thursday, November 08, 2012MIDLAND, Texas, Nov. 8, 2012 (GLOBE NEWSWIRE) -- Legacy Reserves LP (Nasdaq:LGCY) today announced that it has priced 8,700,000 units at an offering price to the public of $24.80 per unit in an underwritten public offering pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. The underwriters have been granted a 30-day option to purchase up to 1,305,000 additional units if the underwriters sell more than 8,700,000 units in the offering. We intend to use the net proceeds of this offering, including the net proceeds from any exercise of the underwriters' option to purchase additional units, to fund a portion of the $520 million purchase price of our pending acquisition of oil and natural gas properties in the Permian Basin from Concho Resources, Inc. Prior to funding the pending acquisition described above, we may use some or all of the net proceeds for general partnership purposes, which may include repayment of outstanding borrowings under our revolving credit facility. The unit offering is scheduled to close on November 15, 2012. Wells Fargo Securities, Barclays, BofA Merrill Lynch, Citigroup, J.P. Morgan, Raymond James, RBC Capital Markets and UBS Investment Bank are acting as joint book-running managers of this offering. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. A copy of the preliminary prospectus supplement and accompanying base prospectus meeting such requirements relating to this offering may be obtained from any of the underwriters, including the offices of: Wells Fargo Securities Attn: Equity Syndicate Dept. 375 Park Avenue New York, New York 10152 Email: Telephone: (800) 326-5897   Barclays c/o Broadridge Financial Solutions 1155 Long Island Avenue, Edgewood, NY 11717 Email: Telephone: (888) 603-5847    BofA Merrill Lynch 222 Broadway, New York, NY 10038 Email:   Citigroup c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (800) 831-9146   J.P. Morgan c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (866) 803-9204    Raymond James Attn: Equity Syndicate 880 Carillon Parkway St. Petersburg, Florida 33716 Telephone: (800) 248-8863   RBC Capital Markets Attn: Equity Syndicate Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281 Telephone: (877) 822-4089   UBS Investment Bank Attn: Prospectus Department 299 Park Avenue, New York, NY 10171 Telephone: (888) 827-7275  You may also obtain these documents for free when they are available by visiting the Securities and Exchange Commission's Web site at This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. 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 development of oil and natural gas properties primarily located in the Permian Basin, Mid-Continent and Rocky Mountain regions of the United States. The Legacy Reserves logo is available at This press release includes forward-looking statements regarding future events. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of Legacy Reserves LP, and a variety of risks that could cause results to differ materially from those expected by the management of Legacy Reserves LP. Legacy Reserves LP undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.CONTACT: Legacy Reserves LP Dan Westcott, Executive Vice President and Chief Financial Officer 432-689-5200