Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Instagram Outage Disrupts Thousands of U.S. Users 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
MIDLAND, Texas, March 07, 2017 -- Legacy Reserves LP ("Legacy") (NASDAQ:LGCY) announced today that it has completed the 2016 tax packages for unitholders of LGCY, LGCYP and LGCYO including Schedules K-1. Schedules K-1 for LGCYP and LGCYO each reflect $0.166667 of income for each month such security was owned in 2016 ($2.00 in total assuming a full year of ownership) irrespective of the fact that (i) no 2016 distributions were paid and (ii) the Partnership generated a net loss in 2016. Each holder of LGCY, LGCYO and LGCYP is encouraged to consult with its tax advisor with respect to the Schedule K-1 information and individual tax circumstances.
The tax packages are currently available online and may be accessed via Legacy's website at www.LegacyLP.com by clicking on the "Tax Information" link on the website. Legacy will begin mailing the Schedules K-1 to unitholders on Thursday, March 9, 2017. For additional information, unitholders may also contact Legacy's K-1 Partner Data Link call center toll free at (877) 504-5606 between 8:00 a.m. and 5:00 p.m. CST Monday through Friday.
Although Legacy has suspended distributions to both LGCYP and LGCYO (the "Preferred Units"), such distributions continue to accrue. Pursuant to the terms of Legacy's partnership agreement, Legacy is required to pay or set aside for payment all accrued but unpaid distributions with respect to the Preferred Units prior to or contemporaneously with making any distribution with respect to Legacy's units. Accruals of distributions on the Preferred Units are treated for tax purposes as guaranteed payments for the use of capital that will generally be taxable to the holders of such Preferred Units as ordinary income even in the absence of contemporaneous distributions. In addition, Legacy has also suspended distributions to LGCY, but such holders, just like unitholders of other master limited partnerships, are allocated taxable income irrespective of cash distributions paid.
CONTACT: Legacy Reserves LP Dan Westcott Executive Vice President and Chief Financial Officer 432-689-5200
