MLP: Legacy Reserves

[dan_s]

LGCY is one of the upstream MLP's on our Watch List. I like (a) most of its production is in Texas, so it does not have the multi-state income tax filing issue and (b) it has more oil production than most of the other upstream MLPs. - Dan

MIDLAND, Texas, April 19, 2012 (GlobeNewswire) -- Legacy Reserves LP (“Legacy”) (NASDAQ: LGCY) today announced that the Board of Directors of its general partner has approved a cash distribution attributable to the first quarter of 2012 of $0.555 per unit, payable on May 11, 2012, to unitholders of record at the close of business on April 30, 2012. This quarterly distribution is a $0.005 increase from the prior quarter and represents an annualized distribution of $2.22 per unit. On a year-over-year basis, Legacy’s quarterly distribution has increased 4.7%.

Legacy will provide the details of its first quarter 2012 operating and financial performance with its earnings report which is scheduled to be released on Wednesday, May 2, 2012, following the close of NASDAQ trading.

Earnings Conference Call

A teleconference and web cast will be held on Thursday, May 3, 2012, beginning at 9:00 a.m. (Central Time). Those wishing to participate in the conference call should dial 877-266-0479. A replay of the call will be available through Monday, May 7, 2012, by dialing 855-859-2056 or 404-537-3406 and entering replay code 73296738.

Those wishing to listen to the live or archived web cast via the Internet should go to the Investor Relations tab of our website at www.LegacyLP.com.

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.