The Company intends to operate in the ordinary course of business during the chapter 11 cases, and has filed a number of customary "first day" motions to enable the Company's operations to continue as usual. Specifically, the Company requested authority, among other things, to pay in full on a normal-course basis employee wages and honor existing employee benefit programs, vendors and other operating expenses, joint interest billings for non-operated properties, and royalties to mineral interest owners under terms of applicable agreements. As previously announced, the Company has received a commitment for $350 million in debtor-in-possession ("DIP") financing that, subject to court approval, will refinance portions of the Company's existing reserve-based credit facility and, when combined with cash from operations, will provide ample liquidity to support the Company's continuing business operations during the chapter 11 cases.
MIDLAND, Texas , June 7, 2019 /PRNewswire/ -- Legacy Reserves Inc. (NASDAQ: LGCY) ("Legacy", and collectively with its subsidiaries, the "Company") announced today that the Company ...
This most-searched list is a feature included in Benzinga Pro's Newsfeed tool. It highlights stocks frequently searched by Benzinga Pro users on the platform. ArQule, Inc. (NASDAQ: ARQL ) shares were up ...
Disappointed by the Board's Apparent Disregard for Stockholder Democracy Concerned by the Status Quo of Continued Value Destruction AUSTIN , May 31, 2019 /PRNewswire/ -- Baines Creek Capital, LLC, an Austin ...
MIDLAND, Texas , June 13, 2019 /PRNewswire/ -- Legacy Reserves Inc. (NASDAQ: LGCY) ("Legacy", and collectively with its subsidiaries, the "Company") announced today that the Company ...
MIDLAND, Texas , June 1, 2019 /PRNewswire/ -- Legacy Reserves Inc. (NASDAQ: LGCY) ("Legacy", and collectively with its subsidiaries, the "Company") announced today that the Company ...
MIDLAND, Texas , June 11, 2019 /PRNewswire/ -- Legacy Reserves Inc. (NASDAQ: LGCY) ("Legacy", and collectively with its subsidiaries, the "Company") announced today that its board of ...
Legacy Reserves Inc (NASDAQ: LGCY) has made a Chapter 11 filing in the U.S. Bankruptcy Court for the Southern District of Texas. Legacy Reserves has received $350 million in debtor-in-possession financing that, subject to court approval, will refinance portions of its existing credit facility.
Rating Action: Moody's downgrades Legacy's PDR to D-PD on bankruptcy filing. Global Credit Research- 19 Jun 2019. New York, June 19, 2019-- Moody's Investors Service downgraded Legacy Reserves LP's Probability ...
MIDLAND, Texas , June 14, 2019 /PRNewswire/ -- Legacy Reserves Inc. (NASDAQ: LGCY) ("Legacy", and collectively with its subsidiaries, the "Company") announced today that its board of ...