Legacy Reserves results show $3.06 million operating loss for October

By Caroline Salls

Pittsburgh, Nov. 27 – Legacy Reserves, Inc. reported a $3.06 million operating loss for October on $30.89 million in total revenue, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

In comparison, Legacy posted a $102.27 million operating loss for September on $30.85 million in total revenue.

The September operating loss reflected $133.12 million of total expenses, compared with just $33.95 million in October.

The net loss for October was $19.68 million, narrowing significantly from a $112.03 million September net loss.

The company listed $1.61 million in cash and cash equivalents as of Oct. 31, down from $13.12 million at the end of September.

Legacy Reserves is a Midland, Tex.-based company focused on the acquisition and development of oil and natural gas properties. The company filed bankruptcy on June 18 under Chapter 11 case number 19-33395.

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