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LGCY - Legacy Reserves LP

Legacy Reserves LP logo Legacy Reserves LP (LGCY) is a publicly-traded master limited partnership (MLP) focused on the development, production, and acquisition of oil and natural gas properties in the United States. The company was founded in 2005 and is headquartered in Midland, Texas.

Legacy Reserves' operations are focused primarily on unconventional shale plays, including the Permian Basin, East Texas, and the Rocky Mountains. The company operates approximately 1,300 wells and has an estimated 145 million barrels of oil equivalent (BOE) in proved reserves.

As with most MLPs, Legacy Reserves operates as a pass-through entity, with the majority of its earnings paid out to shareholders in the form of distributions. The company's distribution yield has fluctuated over the years and was suspended in 2019 due to its bankruptcy proceedings. However, the company emerged from bankruptcy in 2020 with a plan to restructure its operations and improve its financial position.

Legacy Reserves faces a number of challenges, including volatile commodity prices, regulatory risks, and the high level of debt carried on its balance sheet. However, the company has taken steps to address these challenges, including reducing its debt load and increasing its focus on cost-efficient operations.

Investors in Legacy Reserves should be aware of the risks associated with investing in MLPs, including exposure to commodity price fluctuations, tax considerations, and potential liquidity issues. However, for those willing to accept these risks, Legacy Reserves may offer an opportunity for income-seeking investors looking to gain exposure to the ene




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