Legacy Reserves (LGCY) Posts Q2 Loss of $0.81/Share
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Legacy Reserves LP Announces Second Quarter 2016 Results and Provides Operational and Financial Update
August 3, 2016 4:56 PM EDTMIDLAND, Texas, Aug. 03, 2016 (GLOBE NEWSWIRE) -- Legacy Reserves LP ("Legacy") (NASDAQ: LGCY) today announced second quarter results for 2016 including the following Q2 highlights:
Reduced lease operating expenses, excluding ad valorem taxes, to $41.5 million representing an 11% decrease compared to Q1 2016 and a 14% decrease compared to Q4 2015Maintained production of 44,615 Boe/d, a 2% reduction compared to both Q1 2016 and Q4 2015 (without adjusting prior periods for recent asset sales)Closed an additional $19.0 million of asset salesFurther reduced debt outstanding by $67.6 million including a $37.0 million reduction in borrowings under our credit... More