Legacy Reserves LP on Quarterly Cash Distributionadmin
Legacy Reserves LP is reported to have announced to the public that the board of directors of its general partner has approved a cash distribution attributable to the second quarter of 2008 of $0.52 per unit, payable on August 14, 2008 to unitholders of record at the close of business on August 1, 2008. This increased quarterly distribution represents an annualized distribution of $2.08 per unit. This quarterly distribution of $0.52 per unit represents a $0.03, or a 6.1%, increase over the quarterly distribution paid with respect to the previous quarter and is the fifth consecutive increase in quarterly distribution since Legacy’s IPO in January of 2007.
We are an independent oil and natural gas limited partnership headquartered in Midland, Texas, and are focused on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin and Mid-continent regions.
Legacy Reserves LP Steven H. Pruett, President and Chief Financial Officer
Source: Legacy Reserves LP