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Rating: LGCY
Hold

Legacy Reserves Lp (NASDAQ: LGCY) rated to Hold by Stifel

Monday,  Dec 7, 2015  8:25 AM ET by Dave Ficere

Stifel rated Legacy
Reserves Lp (NASDAQ: LGCY) to Hold.

Legacy Reserves LP (Legacy) is an independent oil and natural gas company focused on the acquisition and exploitation of oil and natural gas properties primarily located in the Permian Basin and Mid-continent regions of the United States. The Company has two activities: the acquisition of producing oil and natural gas properties, and the development of producing properties. As of December 31, 2008, the Company had proved reserves of approximately 30.8 million barrels of oil equivalent (MMBoe), of which 68% were oil and natural gas liquids and 89% were classified as proved developed producing, 2% were proved developed non-producing, and 9% were proved undeveloped. On October 1, 2008, the Company completed the acquisition of 100% membership interests of Pantwist, LLC from Cano Petroleum, Inc.

Stifel



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