Legacy Reserves Inc fka LGCYQ

[tchalla]

here is your reality:

https://seekingalpha.com/article/4275015-legacy-reserves-looking-new-company-restructuring

Summary
Legacy is planning on getting rid of most of its debt during restructuring and cancelling its current common stock in the process.

The new Legacy is projected to have net debt of around 1.3x its 2020 EBITDAX and a breakeven point of low $50s WTI oil.

Unsecured bond prices are around 6 cents on the dollar, which appears to fairly value Legacy at around 4.0x its 2020 EBITDAX based on the restructuring plan.

The rights offering for noteholders appears to use a valuation for Legacy that is around 3.9x its 2020 EBITDAX.