updated 9/15/2010 9:18:32 AM ET 2010-09-15T13:18:32

MIDLAND, Texas, Sept. 14, 2010 (GLOBE NEWSWIRE) -- Legacy Reserves LP (Nasdaq:LGCY) today announced that it has closed three acquisitions of oil and natural gas properties located in the Permian Basin and Wyoming during August 2010, and has recently entered into an agreement to purchase additional Permian Basin oil and natural gas properties, for a total of $14.9 million. Legacy has funded or will fund these acquisitions with cash on hand and borrowings from its revolving credit facility. 

These properties produce approximately 220 Boe per day, of which 79% is oil and natural gas liquids. Legacy estimates that these properties contain approximately 1.0 MMBoe of proved reserves, of which an estimated 76% are located in the Permian Basin and 93% are classified as proved developed producing. Upon the closing of all of the aforementioned acquisitions, Legacy will have acquired approximately $173 million of oil and natural gas properties during 2010.      

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. Additional information is available at www.LegacyLP.com .

The Legacy Reserves logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3201

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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