On June 4, Legacy Reserves LP (NASDAQ: LGCY) said it closed an agreement with WPX Energy Inc. (NYSE: WPX) to purchase a working interest in WPX’s Piceance Basin acreage.
In the agreement, the working interest, which will move to 37% in 2015 from its current 29%, covered more than 2,680 natural gas wells in the basin, Legacy said. It will increase to 41% in 2016, the company noted.
Legacy purchased it for $355 million in cash and some of its new incentive distribution units, the company said.
"Closing this transaction ...