Legacy Reserves purchases oil-weighted properties for $112M

|About: Legacy Reserves LP (LGCY)|By:, SA News Editor

Legacy Reserves (LGCY) enters into separate agreements to purchase oil-weighted properties in New Mexico and Montana for a combined $112M.

The properties produce ~890 boe/day, contain estimated proved reserves of ~9M boe, and are 95% oil.

LGCY anticipates funding the transactions with borrowings under its revolver.