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

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

MIDLAND, Texas, Nov. 7, 2012 (GLOBE NEWSWIRE) -- Legacy Reserves LP
(Nasdaq:LGCY) today announced that it plans to sell 8,700,000 units 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 underwriters have been granted a 30-day option to purchase up
to 1,305,000 additional units. We intend to use the net proceeds of this
offering, including the net proceeds from any exercise of the underwriters'
option to purchase additional units, to fund a portion of the $520 million
purchase price of our pending acquisition of oil and natural gas properties in
the Permian Basin from Concho Resources, Inc. Prior to funding the pending
acquisition described above, we may use some or all of the net proceeds for
general partnership purposes, which may include repayment of outstanding
borrowings under our revolving credit facility. Wells Fargo Securities,
Barclays, BofA Merrill Lynch, Citigroup, J.P. Morgan, Raymond James, RBC
Capital Markets and UBS Investment Bank 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

Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, New York 10152
Email: cmclientsupport@wellsfargo.com
Telephone: (800) 326-5897

c/o Broadridge Financial Solutions
1155 Long Island Avenue, Edgewood, NY 11717
Email: barclaysprospectus@broadridge.com
Telephone: (888) 603-5847

BofA Merrill Lynch
222 Broadway, New York, NY 10038
Email: dg.prospectus_requests@baml.com

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, Florida 33716
Telephone: (800) 248-8863

RBC Capital Markets
Attn: Equity Syndicate
Three World Financial Center, 200 Vesey Street, 8^th Floor, New York, NY 10281
Telephone: (877) 822-4089

UBS Investment Bank
Attn: Prospectus Department
299 Park Avenue, New York, NY 10171
Telephone: (888) 827-7275

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.

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 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.

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.

The Legacy Reserves logo is available at

CONTACT:  Legacy Reserves LP
          Dan Westcott, Executive Vice President
           and Chief Financial Officer

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