Legacy Reserves LP Announces Public Offering of Series A Preferred Units

Legacy Reserves LP

("Legacy") today announced that it has commenced a public offering of Series A Preferred Units pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the "SEC"). Legacy will grant the underwriters a 30-day option to purchase additional Series A Preferred Units. It is anticipated that the preferred rate will be fixed for 10 years from the date of original issuance of the Series A Preferred Units and thereafter will be adjusted on a monthly basis based on a spread to three-month LIBOR. Legacy intends to use the net proceeds of this offering to fund a portion of pending acquisitions of certain oil-weighted properties located in Chaves County, New Mexico and Sheridan County, Montana and for general partnership purposes, which may include temporary repayment of outstanding borrowings under its revolving credit facility. Stifel, Barclays and MLV & Co. will act as joint book-running managers of the offering. Janney Montgomery Scott and Ladenburg Thalmann & Co. Inc. will act 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: Stifel Attn: Syndicate Department One South Street, 15th Floor Baltimore, MD 21202 Phone: (855) 300-7136 Barclays c/o Broadridge Financial Solutions 1155 Long Island Avenue, Edgewood, NY 11717 Email: barclaysprospectus@broadridge.com Telephone: (888) 603-5847 MLV & Co. Attn: Randy Billhardt 1251 Avenue of the Americas, 41st Floor New York, NY 10020 Phone: (212) 542-5882 Janney Montgomery Scott Attn: Peter Reinhart 1717 Arch Street Philadelphia, PA 19103 Phone: (215) 665-6170 Ladenburg Thalmann & Co. Inc. 570 Lexington Ave., 11th Floor New York, NY 10022 Email: prospectus@ladenburg.com You may also obtain these documents for free when they are available by visiting the Securities and Exchange Commission's Web site at www.sec.gov. The shelf registration statement relating to these securities has previously been filed with the SEC and automatically deemed effective. 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. 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, and a variety of risks that could cause results to differ materially from those expected by the management of Legacy. Legacy 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 company logo Source: Legacy Reserves LP