Description of Recent Developments. The statements regarding the acquisition by the Partnership of the Cardinal Subsidiaries and their related assets pursuant to the Cardinal Purchase Agreement, contained in the Registration Statement, the General Disclosure Package and the Prospectus under the caption “Summary—The Partnership—Recent Developments—Pending Cardinal Acquisition” were prepared in good faith and, in the informed judgment of management of the General Partner, on a reasonable basis reflecting the best currently available estimates of management of the General Partner and are true and accurate in all material respects, and are within the coverage of Rule 175 under the 1933 Act to the extent such statements constitute forward looking statements as defined in Rule 175. As of the date hereof, management of the General Partner is not aware of any facts with respect to historical or anticipated financial or operational performance of the Cardinal Subsidiaries and the assets to be acquired pursuant to the Cardinal Purchase Agreement or of the Partnership that would result in a significant variance from such estimates included in the Registration Statement, the General Disclosure Package and the Prospectus under the caption “Summary—The Partnership—Recent Developments—Pending Cardinal Acquisition.”
Description of Recent Developments. The statements regarding the estimates of proved reserves related to the properties to be acquired by the Partnership pursuant to the Rocky Mountain Purchase Agreement to be added to the Partnership from such properties and the underlying assumptions, contained in the Offering Memorandum under the caption “Summary—Legacy Reserves LP—Recent Developments—Pending Piceance Basin Acquisition” were prepared in good faith and, in the informed judgment of the management of the Partnership, on a reasonable basis reflecting the best currently available estimates of management of the Partnership. As of the date hereof, the management of the Partnership is not aware of any facts with respect to historical or anticipated financial or operational performance of the properties to be acquired pursuant to the Rocky Mountain Acquisition Agreement that would result in a material variance from such estimates of proved reserves, included in the Offering Memorandum under the caption “Summary—Legacy Reserves LP—Recent Developments—Pending Piceance Basin Acquisition.”
Description of Recent Developments. The statements regarding the estimates of proved reserves and the assumptions underlying such estimates contained in the Pricing Disclosure Package and the Prospectus under the caption “Prospectus Supplement Summary—Other Recent Developments—Proved Reserves and Operational Update” were prepared in good faith and, in the informed judgment of the management of the Company, on a reasonable basis reflecting the best currently available estimates of management of the Company. As of the date hereof, the management of the Company is not aware of any facts with respect to historical or anticipated performance of the Company that would result in a material variance from such estimates of proved reserves included in the Pricing Disclosure Package and the Prospectus under the caption “Prospectus Supplement Summary—Other Recent Developments—Proved Reserves and Operational Update.” (yy) Reserve Report. Netherland Xxxxxx & Associates, Inc., whose summary reserve report dated January 17, 2014 (the “Reserve Report Letter”) from which the oil and natural gas reserve estimates of the Xxx Entities as of December 31, 2013 contained or incorporated by reference in each of the Pricing Disclosure Package and the Prospectus were derived, was, as of the date of the Reserve Report Letter, and is, as of the date hereof, an independent petroleum engineer with respect to the Xxx Entities. The information underlying the estimates of reserves of the Xxx Entities used in the preparation of the Reserve Report Letter and other estimates, including the oil and natural gas reserve estimates of the Company as of June 30, 2014 (the “Company Reserve Estimates”) contained or incorporated by reference in each of the Pricing Disclosure Package and the Prospectus, including, without limitation, production, costs of operation and development, current prices for production, agreements relating to current and future operations and sales of production, was true and correct in all material respects on the dates such estimates were made and such information was supplied and was prepared in accordance with customary industry practices; other than normal production of the reserves, intervening market commodity price fluctuations, fluctuations in demand for such products, adverse weather conditions, unavailability or increased costs of rigs, equipment, supplies or personnel, the timing of third party operations and other factors described in each of the Pricing Disclosure Package and the Prospectus, the Com...
Description of Recent Developments. The statements regarding the estimates of proved reserves and forecasts of production related to the properties to be acquired by the Partnership pursuant to the Permian Purchase Agreement and estimate of cash flow from operations to be added to the Partnership from such properties and the underlying assumptions and forecasts thereto, contained in the Registration Statement, Disclosure Package and the Prospectus under the caption “Summary—Legacy Reserves LP—Recent Developments—Pending Acquisition of Oil and Natural Gas Properties in the Permian Basin” were prepared in good faith and, in the informed judgment of the management of the Partnership, on a reasonable basis reflecting the best currently available estimates of management of the Partnership and are true and accurate in all material respects, and are within the coverage of Rule 175 under the Securities Act to the extent such statements constitute forward looking statements as defined in Rule 175. As of the date hereof, the management of the Partnership is not aware of any facts with respect to historical or anticipated financial or operational performance of the properties to be acquired pursuant to the Permian Acquisition Agreement or of the Partnership that would result in a significant variance from such estimates of proved reserves, forecasts of production and estimated added cash flow from operations included in the Registration Statement, Disclosure Package and the Prospectus under the caption “Summary—Legacy Reserves LP—Recent Developments—Pending Acquisition of Oil and Natural Gas Properties in the Permian Basin.”
Description of Recent Developments. The statements regarding the acquisition by the Company of the Cana-Woodford Assets pursuant to the Cana-Woodford Purchase Agreement, contained in the Registration Statement, the Time of Sale Information and the Prospectus under the caption “Summary—Recent Developments—Acquisition of Cana-Woodford acreage” were prepared in good faith and, in the informed judgment of management of the Company, on a reasonable basis reflecting the best currently available estimates of management of the Company and are true and accurate in all material respects, and are within the coverage of Rule 175 under the Securities Act to the extent such statements constitute forward looking statements as defined in Rule 175. As of the date hereof, management of the Company is not aware of any facts with respect to historical or anticipated financial or operational performance of the Cana-Woodford Assets or of the Company that would result in a material variance from such estimates included in the Registration Statement, the Time of Sale Information and the Prospectus under the caption “Summary—Recent Developments—Acquisition of Cana-Woodford acreage.”
Description of Recent Developments. The statements regarding the estimates of proved reserves and forecasts of production related to the properties to be acquired by the Partnership pursuant to the Permian Purchase Agreement and estimate of cash flow from operations to be added to the Partnership from such properties and the underlying assumptions and forecasts thereto, contained in the Offering Memorandum under the caption “Offering Memorandum Summary — Legacy Reserves LP — Recent Developments—Pending Acquisition of Oil and Natural Gas Properties in the Permian Basin” were prepared in good faith and, in the informed judgment of the management of the Partnership, on a reasonable basis reflecting the best currently available estimates of management of the Partnership and are true and accurate in all material respects, and are within the coverage of Rule 175 under the Securities Act to the extent such statements constitute forward looking statements as defined in Rule 175. As of the date hereof, the management of the Partnership is not aware of any facts with respect to historical or anticipated financial or operational performance of the properties to be acquired pursuant to the Permian Purchase Agreement or of the Partnership that would result in a significant variance from such estimates of proved reserves, forecasts of production and estimated added cash flow from operations included in the Offering Memorandum under the caption “Summary — Legacy Reserves LP — Recent Developments — Pending Acquisition of Oil and Natural Gas Properties in the Permian Basin.”
Description of Recent Developments. The statements regarding the estimates of proved reserves related to the properties acquired by the Partnership and the assumptions underlying such estimates contained in the Disclosure Package and the Prospectus Supplement under the caption “Summary—Legacy Reserves LP—Recent Developments—Piceance Basin Acquisition” were prepared in good faith and, in the informed judgment of the management of the Partnership, on a reasonable basis reflecting the best currently available estimates of management of the Partnership. As of the date hereof, the management of the Partnership is not aware of any facts with respect to historical or anticipated financial or operational performance of the acquired properties that would result in a material variance from such estimates of proved reserves, included in the Disclosure Package and the Prospectus Supplement under the caption “Summary—Legacy Reserves LP—Recent Developments—Piceance Basin Acquisition.”
