MIDLAND, Texas, July 23, 2009 (GLOBE NEWSWIRE) -- Legacy Reserves LP (Nasdaq:LGCY) today announced that the Board of Directors of its general partner has approved a cash distribution attributable to the second quarter of 2009 of $0.52 per unit, payable on August 14, 2009, to unitholders of record at the close of business on August 3, 2009. This quarterly distribution represents an annualized distribution of $2.08 per unit and maintains the distribution amount paid with respect to the prior four quarters.
Our distribution is more than covered by our cash flow from production of oil and natural gas and our favorable commodity swap settlements received in the second quarter of 2009. We will provide details on our second quarter 2009 operating and financial performance with our earnings press release in early August.
About Legacy Reserves LP
Legacy Reserves LP is an independent oil and natural gas limited partnership headquartered in Midland, Texas, focused on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin and Mid-continent regions of the United States. Additional information is available at www.LegacyLP.com.
The Legacy Reserves logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3201
Withholding Information
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Legacy's distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Legacy's distributions to foreign investors are subject to federal income tax withholding at the highest applicable rate.