Equity Field Notes from temporal sources

[DanWebzster]

LGCY is a battleground unit/stock

Management has made clear their intentions to convert to a C-Corp from a pass-through entity

If they are successful, the market value of LGCY assuming an EBITDA multiple of just 6 would mean a pps of ~7.50.

The bear case is that its hedges significantly reduce realized oil prices. $1 change in the price of a barrel of oil has only brought $.25 to their bottom line. And, upcoming debt maturities reduce the chances of re-structuring.