MIDLAND, Texas, April 9, 2009 (GLOBE NEWSWIRE) -- The following press release corrects a typographical error in the prior press release. The following correctly states that the proposal by Apollo Management VII, LP was announced on April 3, 2009 rather than April 3, 2008.
Legacy Reserves LP (Nasdaq:LGCY) announced today that the Conflicts Committee of the Board of Directors of its general partner has selected Tudor, Pickering, Holt & Co. Securities, Inc., an energy investment banking firm, as its financial advisor to help it evaluate the proposal by Apollo Management VII, LP as previously announced on April 3, 2009, and consider other potential alternatives to enhance unitholder value. The Board of Directors has ratified and approved the Conflicts Committee's selection.
The Conflicts Committee previously retained the law firm of Richards, Layton & Finger, P.A. as its legal advisor. The Board of Directors cautions unitholders and others considering trading in Legacy's securities that it has only received the proposal and that no decisions have been made by the Conflicts Committee or the Board of Directors with respect to Legacy's response to the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.
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