Legacy Reserves Announces New CFO

Midlands, Texas-based Legacy Reserves has appointed Dan Westcott as Executive VP and CFO, effective later this month. Westcott was previously a principal at GSO Capital Partners, a division of the Blackstone Group. Legacy Reserves is an independent oil and natural gas limited partnership that is focused on the acquisition and development of oil and natural gas properties primarily n the Permian Basin, Mid-Continent and Rocky Mountain regions of the U.S.


Legacy Reserves LP (“Legacy”) LGCY -0.16% today announced the appointment of James “Dan” Westcott as Executive Vice President and Chief Financial Officer of Legacy Reserves GP, LLC, the general partner of Legacy, effective on or about September 24, 2012. James R. Lawrence, who has been serving as Interim Chief Financial Officer, Vice President – Finance and Treasurer of Legacy Reserves GP, LLC since February 2012, will continue in that capacity until such date and continue thereafter as Vice President – Finance and Treasurer.

Prior to joining Legacy, Mr. Westcott served as a Principal at GSO Capital Partners LP, a division of The Blackstone Group L.P. BX +1.86% , where he was involved in the sourcing, structuring, evaluation and management of debt and equity investments for public and private companies in the energy and power industries. Mr. Westcott is currently a Director of each of Bear Tracker Energy LLC, a private midstream company, Compass Well Services LLC, a private pressure pumping company, Energy Alloys LLC, a private global provider of oilfield metals solutions to the energy industry, and Peace Gospel International, a non-profit organization with charitable programs in Asia and Africa. Prior to his time at GSO Capital Partners LP, Mr. Westcott worked as an investment banker at J.P. Morgan’s Global Energy Group. Mr. Westcott received a Bachelor of Arts degree in Science Technology & Society and a Master of Science degree in Management Science, both from Stanford University.

Cary D. Brown, Chairman of the Board of Directors, President and Chief Executive Officer of Legacy Reserves GP, LLC, stated, “We are extremely pleased to announce the addition of Dan Westcott to Legacy’s senior management team. Dan’s leadership skills and experience in energy private equity, capital markets and mergers and acquisitions make him ideally suited to lead our finance and accounting groups and to assist Legacy as we expand the scope of our business in the years ahead. I would also like to thank Jim Lawrence for his outstanding performance as interim CFO during this transition period. Jim is a valuable member of the team and we appreciate his dedication to Legacy.”

DHR International acted as advisor to Legacy in this executive search.

About Legacy Reserves LP

Legacy Reserves LP is an independent oil and natural gas limited partnership headquartered in Midland, Texas, focused on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin, Mid-Continent and Rocky Mountain regions of the United States. Additional information is available at www.legacylp.com .

Cautionary Statement Relevant to Forward-Looking Information

This press release contains forward-looking statements relating to our operations that are based on management’s current expectations, estimates and projections about its operations. Words such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “projects,” “believes,” “seeks,” “schedules,” “estimated,” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: realized oil and natural gas prices; production volumes, lease operating expenses, general and administrative costs and finding and development costs; future operating results and the factors set forth under the heading “Risk Factors” in our annual and quarterly reports filed with the SEC. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Legacy undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE: Legacy Reserves LP