Company Overview

Company Background
Legacy Reserves LP (NASDAQ – LGCY) is an independent oil and natural gas limited partnership headquartered in Midland, Texas. Our focus is 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.

We were formed in October 2005 to own and operate the oil and natural gas properties that we acquired from the Moriah Group, the Brothers Group, H2K Holdings, Ltd. and MBN Properties LP. Since this time, we have grown primarily through two activities: the acquisition of producing oil and natural gas properties and the exploitation of proved properties, as opposed to the higher risk exploration of unproved properties.

Key Statistics
Our oil and natural gas production and reserve data as of December 31, 2007, as are follows:

• we had proved reserves of approximately 32.1 MMBoe, of which 74% were oil and natural gas liquids and 87% were classified as proved developed producing, 3% were proved developed non-producing, and 10% were proved undeveloped;
• our proved reserves had a standardized measure of $690.5 million; and
• our proved reserves to production ratio was approximately 14 years based on the average daily net production of 6,453 Boe/d for the three months ended December 31, 2007.