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

MIDLAND, Texas, Oct. 3, 2014 (GLOBE NEWSWIRE) -- Legacy Reserves LP (Nasdaq:LGCY) today announced that it has priced 10,000,000 units at an offering price to the public of $27.38 per unit in an underwritten public offering pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the "SEC"). The underwriters have been granted a 30-day option to purchase up to 1,500,000 additional units. We intend to use the net proceeds of this offering, including any net proceeds from the underwriters' exercise of their option to purchase additional units, for general partnership purposes, including funding future acquisitions or repaying a portion of the borrowings outstanding under our revolving credit facility. The unit offering is scheduled to close on October 8, 2014.

UBS Investment Bank, BofA Merrill Lynch, RBC Capital Markets, Wells Fargo Securities, Barclays, Citigroup, J.P. Morgan and Raymond James will act as joint book-running 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:

UBS Investment Bank
Attn: Prospectus Department
299 Park Avenue
New York, NY 10171
Telephone: (888) 827-7275
BofA Merrill Lynch
Attn: Prospectus Department
222 Broadway
New York, NY 10038
Email: dg.prospectus_requests@baml.com
RBC Capital Markets
Attn: Equity Syndicate
Three World Financial Center
200 Vesey Street, 8th Floor
New York, NY 10281
Telephone: (877) 822-4089
Email: equityprospectus@rbccm.com
Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, NY 10152
Email: cmclientsupport@wellsfargo.com
Telephone: (800) 326-5897
Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Email: barclaysprospectus@broadridge.com
Telephone: (888) 603-5847
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (800) 831-9146
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (866) 803-9204
Raymond James
Attn: Equity Syndicate
880 Carillon Parkway
St. Petersburg, FL 33716
Telephone: (800) 248-8863

You may also obtain these documents for free when they are available by visiting the SEC's website at www.sec.gov.

The shelf registration statement relating to these securities has previously been filed with the SEC and was 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.

About Legacy Reserves LP

Legacy Reserves LP is a master 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.

Cautionary Statement Relevant to Forward-Looking Information

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 Reserves LP, and a variety of risks that could cause results to differ materially from those expected by the management of Legacy Reserves LP. Legacy Reserves LP 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

Source:Legacy Reserves LP