Under the first agreement, the company will buy properties in the Permian Basin from a private seller for $20m in cash and 278,396 Legacy units.
These assets, located in Lea, Eddy and Chaves Counties, New Mexico, have net daily production of about 1.26mmcf of natural gas and 110 barrels of oil, and are 100% operated.
In addition, the company has entered into an agreement to buy natural gas properties located in Freemont County, Wyoming, for $45m in cash.
The Wyoming properties have net daily production of about 12.9mmcf of natural gas and 15 barrels of oil, and are 100% operated.
This acquisition includes a natural gas gathering system, gas processing plant, and related compression facilities gathering gas from the wells to be acquired.
Legacy Reserves is focused on the acquisition and development of oil and natural gas assets primarily in the Permian Basin, Mid-Continent and Rocky Mountain regions of the US.
