Deals - Acquisition, Mergers, Divestitures
Legacy Reserves LP Announces Acquisitions of Rockies Oil Properties for $70.8 Million
Print
|
Legacy Reserves LP ("Legacy") (Nasdaq:LGCY) today announced it has entered into an agreement to purchase oil properties in North Dakota and Montana for $70.8 million in cash. These properties have current net production of approximately 776 barrels of oil equivalent ("Boe") per day. Legacy estimates that these properties contain 3.2 MMBoe of proved reserves, of which 95% are oil, 2% are natural gas liquids and 3% are natural gas. In addition, 100% of these reserves are considered proved developed producing ("PDP") and 95% are operated. The North Dakota properties contain approximately 75% of the proved reserves, are primarily located in Billings County as well as Golden Valley and McKenzie Counties, and produce mainly from the Madison, Bakken and Birdbear formations. The Montana…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations