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

MIDLAND, Texas, Nov. 18, 2010 (GLOBE NEWSWIRE) -- Legacy Reserves LP (Nasdaq:LGCY) today announced that it has priced an underwritten public offering pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission of 3,000,000 units at an offering price to the public of $25.36 per unit. The underwriters have been granted a 30-day option to purchase up to 450,000 additional units if the underwriters sell more than 3,000,000 units in the offering. Legacy Reserves LP intends 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 purchase price of an acquisition of working interests in properties in the Permian Basin.  The closing of the acquisition, which is expected to occur on December 22, 2010, is not contingent upon the closing of this offering and this offering is not conditioned upon the closing of the acquisition. Pending the use of the proceeds for such purpose, Legacy Reserves LP intends to use the net proceeds for general partnership purposes, including reducing outstanding borrowings under its revolving credit facility. The offering is scheduled to close on November 23, 2010.

Wells Fargo Securities, LLC, Raymond James & Associates, Inc. and Citigroup Global Markets Inc. are acting as joint book-running managers of the offering.  RBC Capital Markets, LLC is acting as senior co-manager and Robert W. Baird & Co. Incorporated and Stifel Nicolaus & Company, Incorporated are acting as co-managers of the 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: