Legacy Reserves Increases Borrowing Base of $600 Million, Shares Flat Late

By
A A A

Oil and gas company Legacy Reserves ( LGCY ) has secured commitments from its bank group to expand its borrowing base to $600 million from the previous $565 million under its $1 billion secured revolving credit agreement. LGCY shares are flat at $28.79 in after-hours trading.

After closing an acquisition of Permian Basin properties for $11.8 million on Oct. 1, 2012, LGCY had $462 million of debt outstanding under its credit agreement, leaving $138 million available. The borrowing base is next scheduled to be redetermined on or about April 1, 2013.

Shares of LGCY are trading within a 52-week range of $23.16 - $30.85.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: LGCY

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

48,099,947
  • $16.09 ▲ 0.50%
40,277,806
  • $102.50 ▲ 0.24%
40,236,499
  • $19.57 ▲ 2.35%
31,092,510
  • $49.75 ▲ 0.65%
30,795,218
  • $34.92 ▲ 0.78%
29,910,855
  • $3.63 ▲ 0.83%
24,019,154
  • $13.06 ▼ 0.38%
23,753,906
  • $74.82 ▲ 1.31%
As of 8/29/2014, 04:04 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com