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Legacy Reserves' Oil Output Up +31% YOY; Commences Delaware Wolfcamp Drilling

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   |    Monday,November 05,2018

 Legacy Reserves reported its Q3 2018 results.

Production Highlights: Oil Output Up +31% YOY

- Q3 production of 49.1 MBOEPD - up +7% YOY and up +3% from 2Q18
  • Generated record quarterly oil production of 18,902 Bbls/d, a 5.6% increase relative to Q2'18, and 31% relative to Q3'17
  • The increase is due to additional oil production from our Permian Basin horizontal drilling operations and production attributable to the additional working interests under our amended and restated joint development agreement with TPG Sixth Street Partners

Commenced Wolfcamp Drilling; Mobilizing Midland Rig

- Brought 7 Permian horizontal wells online during the quarter, totaling 36 of such wells year-to-date

  • Commenced Wolfcamp drilling in the Delaware Basin in Lea County, NM
  • Company is preparing to mobilize Midland Basin horizontal rig from Martin to Midland County, TX

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