MIDLAND, Texas, March 13, 2019 /PRNewswire/ — Legacy Reserves Inc. (“Legacy”) (NASDAQ:LGCY) today announced that it is evaluating and exploring potential strategic alternatives. These alternatives include, among others, a sale or other business combination transaction, sales of assets, financing transactions, or some combination of these. Legacy is encouraging proposals from existing stakeholders and interested third parties. 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.
About Legacy Reserves Inc.
Legacy Reserves Inc. is an independent energy company engaged in the development, production and acquisition of oil and natural gas properties in the United States. Its current operations are focused on the horizontal development of unconventional plays in the Permian Basin and the cost-efficient management of shallow-decline oil and natural gas wells in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions.
The principal executive offices of Legacy are located at 303 W. Wall St., Suite 1800, Midland, Texas 79701. Additional information is available at www.LegacyReserves.com.