Last $11.00 USD
Change Today -0.50 / -4.35%
Volume 594.6K
LGCY On Other Exchanges
Symbol
Exchange
NASDAQ GS
Berlin
As of 8:10 PM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

legacy reserves lp (LGCY) Snapshot

Open
$11.41
Previous Close
$11.50
Day High
$11.58
Day Low
$11.00
52 Week High
07/24/14 - $32.61
52 Week Low
01/20/15 - $8.06
Market Cap
761.3M
Average Volume 10 Days
510.9K
EPS TTM
$-1.39
Shares Outstanding
69.2M
EX-Date
01/29/15
P/E TM
--
Dividend
$2.44
Dividend Yield
22.03%
Current Stock Chart for LEGACY RESERVES LP (LGCY)

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legacy reserves lp (LGCY) Details

Legacy Reserves LP owns and operates oil and natural gas properties in the United States. As of December 31, 2013, the company owned interests in producing oil and natural gas properties in 664 fields comprising 8,071 gross productive wells, including 3,734 operated and 4,337 non-operated wells located in the Permian Basin, Texas Panhandle, Wyoming, North Dakota, Montana, Oklahoma, and other states. It had proved reserves of approximately 87.6 million barrels of crude oil equivalent. The company has a strategic alliance with WPX Energy, Inc. Legacy Reserves GP, LLC serves as the general partner of the company. Legacy Reserves LP was founded in 2005 and is headquartered in Midland, Texas.

Founded in 2005

legacy reserves lp (LGCY) Top Compensated Officers

Chief Executive Officer of Legacy Reserves Gp...
Total Annual Compensation: $603.6K
Executive Chairman of Legacy Reserves Gp Llc ...
Total Annual Compensation: $1.0M
Chief Financial Officer of Legacy Reserves GP...
Total Annual Compensation: $580.4K
Chief Development Officer of Legacy Reserves ...
Total Annual Compensation: $582.6K
Vice President of Legacy Reserves Gp Llc, Gen...
Total Annual Compensation: $335.2K
Compensation as of Fiscal Year 2013.

legacy reserves lp (LGCY) Key Developments

Legacy Reserves Mulls Acquisitions

Legacy Reserves LP (NasdaqGS:LGCY) is seeking acquisitions. Paul Horne, Chief Operating Officer of Legacy Reserves, said in Legacy Reserves LP earnings call on being asked about potential acquisitions, “We'd like to make a much bigger acquisition than that. As Dan mentioned earlier we have roughly $600 million of availability, and an acquisition would increase that. We'd love to make $0.5 billion of acquisitions in 2015.”

Legacy Reserves LP Appoints Kyle M. Hammond as Executive Vice President and Chief Operating Officer, Effective March 1, 2015

Legacy Reserves LP has appointed Kyle M. Hammond as executive vice president and chief operating officer of the company effective March 1, 2015. He will be replacing Paul T. Horne, who has been recently promoted as chief executive officer.

Legacy Reserves LP Reports Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Production and Capital Expenditures Guidance for the Year 2015; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2014

Legacy Reserves LP reported unaudited consolidated earnings and production results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenues of $119,606,000 compared to $122,041,000 a year ago. Operating loss was $445,124,000 compared to $37,880,000 a year ago. Loss before income taxes was $333,228,000 compared to $46,858,000 a year ago. Net loss attributable to unitholders was $336,249,000 or $4.94 basic and diluted per share compared to $46,899,000 or $0.82 basic and diluted per share a year ago. Adjusted EBITDA was $64,718,000 compared to $64,231,000 a year ago. Total development capital expenditures were $42.0 million. For the year, the company reported total revenues of $532,299,000 compared to $485,489,000 a year ago. Operating loss was $356,937,000 compared to operating income of $27,644,000 a year ago. Loss before income taxes was $284,504,000 compared to $34,623,000 a year ago. Net loss attributable to unitholders was $295,339,000 or $4.92 basic and diluted per share compared to $35,272,000 or $0.62 basic and diluted per share a year ago. Adjusted EBITDA was $278,187,000 compared to $273,447,000 a year ago. Total development capital expenditures increased to $133.4 million in 2014 from $94.0 million in 2013. For the quarter, the company reported total production of 3,016,000 MBoe compared to 1,785,000 MBoe a year ago. Average daily production was 32,783,000 Boe/d compared to 19,402,000 Boe/d a year ago. For the year, the company reported total production of 9,841,000 MBoe compared to 7,179,000 MBoe a year ago. Average daily production was 26,962,000 Boe/d compared to 19,668,000 Boe/d a year ago. Production increased 37% primarily due to $536.3 million of acquisitions in 2014 including $360.0 million acquisition of non-operated interest in oil and natural gas properties located in the Piceance Basin in Garfield County, Colorado from WPX Energy. Additionally, production was positively impacted by $133.4 million of development capital expenditures during 2014 The company provided production and capital expenditures guidance for the year 2015. For the year, the company expects total production of 11,834,000 MBoe to 12,130,000 MBoe, average daily production of 32,422,000 Boe/d to 33,233,000 Boe/d and total development capital expenditures of $30,000,000. For the fourth quarter ended December 31, 2014, the company reported impairment of long-lived assets of $440,130,000 compared to $62,405,000 a year ago.

 

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