Legacy Reserves results show $2.72 million operating loss for August

By Caroline Salls

Pittsburgh, Sept. 30 – Legacy Reserves, Inc. reported a $2.72 million operating loss for August on $32.19 million in total revenue, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of Texas.

In comparison, Legacy posted $281,000 of operating income for July on $34.46 million in total revenue.

The net loss for August was $8.38 million, narrowing from a $15.83 million July net loss.

The company listed $8.93 million in cash and cash equivalents as of Aug. 31, up from $8.24 million at the end of July.

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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