MIDLAND, Texas, March 31, 2010 (GLOBE NEWSWIRE) -- Legacy Reserves LP ("Legacy") (Nasdaq:LGCY) today announced that its bank group has completed its semi-annual redetermination of the borrowing base applicable to Legacy's revolving credit facility. BNP Paribas, Legacy's Agent Bank, has notified Legacy that it has received approval from the lenders under the credit facility to increase the borrowing base to $410 million from the previous level of $340 million. In addition to increasing the borrowing base, Crédit Agricole Corporate and Investment Bank and UBS joined Legacy's lending group, increasing the number of participating banks to eleven. The next borrowing base review is scheduled for October 1, 2010. Legacy's availability under its credit facility is currently $145 million.
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, Mid-continent and Rocky Mountain regions of the United States. Additional information is available at www.LegacyLP.com.
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