Legacy Reserves (LGCY) Reports Q1 EPS of $1.47
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Legacy Reserves LP Announces First Quarter 2016 Results and Provides Operational and Financial Update
May 4, 2016 4:10 PM EDTMIDLAND, Texas, May 04, 2016 (GLOBE NEWSWIRE) -- Legacy Reserves LP ("Legacy") (NASDAQ: LGCY) today announced first quarter results for 2016 including the following Q1 highlights:
Increased production to 45,527 Boe/dReduced lease operating expenses, excluding ad valorem taxes, of $46.7 million representing a nearly 4% decrease compared to Q4 2015Closed $68.5 million of asset sales, above our previously-announced target of $50 millionReduced debt outstanding by $191.8 million including a $38.0 million reduction in borrowings under our credit facility and $153.8 million of senior notesReported net income of $105.3 million, representing earnings per unit of $1.47 driven by a gain on... More