Legacy Reserves 10-Q 12 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Nov. 08, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-38668
Entity Registrant Name	LEGACY RESERVES INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-4919553
Entity Address, Address Line One	303 W. Wall, Suite 1800
Entity Address, City or Town	Midland
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	79701
City Area Code	432
Local Phone Number	689-5200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		114,810,671
Entity Central Index Key	0001735828
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash	$ 13,121	$ 1,098
Accounts receivable, net:
Oil and natural gas	49,173	56,615
Joint interest owners	13,243	15,370
Other	2	0
Fair value of derivatives (Notes 6 and 7)	3,543	66,662
Prepaid expenses and other current assets (Note 1)	14,784	11,347
Total current assets	93,866	151,092
Oil and natural gas properties at cost:
Proved properties using the successful efforts method of accounting	3,554,169	3,471,456
Unproved properties	20,071	19,863
Accumulated depletion, depreciation, amortization and impairment	(2,394,774)	(2,177,006)
Total oil and natural gas properties, net	1,179,466	1,314,313
Other property and equipment, net of accumulated depreciation and amortization of $12,749 and $11,971, respectively (Note 12)	6,447	2,456
Fair value of derivatives (Notes 6 and 7)	0	3,135
Other assets	1,418	3,935
Total assets	1,281,197	1,474,931
Current liabilities:
Current debt, net (Notes 2 and 3)	563,000	856,646
Accounts payable	8,921	11,227
Accrued oil and natural gas liabilities (Note 1)	74,240	98,886
Fair value of derivatives (Notes 6 and 7)	236	0
Asset retirement obligation (Note 8)	3,938	3,938
Other (Note 12)	36,397	13,953
Total current liabilities	686,732	984,650
Long-term liabilities:
Long-term debt (Notes 2 and 3)	0	432,923
Asset retirement obligation (Note 8)	255,729	248,796
Fair value of derivatives (Notes 6 and 7)	0	550
Other long-term liabilities (Note 12)	2,250	643
Total long-term liabilities	257,979	682,912
Liabilities subject to compromise	790,096	0
Total liabilities	1,734,807	1,667,562
Commitments and contingencies (Notes 5 and 12)
Stockholders' equity (deficit):
Common stock, $0.01 par value; 945,000,000 shares authorized, 114,819,671 and 109,442,278 shares outstanding at September 30, 2019 and December 31, 2018, respectively	1,148	1,094
Additional paid-in capital	40,842	24,752
Accumulated deficit	(495,600)	(218,477)
Total stockholders' deficit	(453,610)
Total partners' deficit		(192,631)
Total liabilities and stockholders' deficit	$ 1,281,197	$ 1,474,931

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Other property and equipment, net of accumulated depreciation and amortization	$ 12,749	$ 11,971
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	945,000,000	945,000,000
Common stock, shares, outstanding (in shares)	114,819,671	109,442,278

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Revenue	$ 97,503	$ 145,207	$ 333,779	$ 421,967
Expenses:
Oil and natural gas production	45,155	51,304	138,711	148,702
Production and other taxes	5,422	7,721	17,952	22,705
General and administrative	13,486	17,778	67,789	64,364
Depletion, depreciation, amortization and accretion	40,109	39,588	124,526	114,274
Impairment of long-lived assets	96,701	18,994	105,533	54,375
(Gains) Losses on disposal of assets	1,338	7,368	327	(14,172)
Total expenses	202,211	142,753	454,838	390,248
Operating (loss) income	(104,708)	2,454	(121,059)	31,719
Other income (expense):
Interest income	17	16	37	31
Interest expense (Notes 2, 3, 5 and 6)	(15,154)	(29,383)	(105,206)	(85,340)
Gain on extinguishment of debt (Note 3)	0	12,107	13,105	63,800
Equity in income (loss) of equity method investees	(3)	(30)	1	(10)
Net gains (losses) on commodity derivatives (Notes 6 and 7)	4,643	(30,867)	(41,104)	(41,886)
Reorganization items, net (Note 2)	(21,201)	0	(23,161)	0
Other	177	350	10	623
Loss before income taxes	(136,229)	(45,353)	(277,377)	(31,063)
Income tax expense	(1)	(2,499)	(1)	(3,116)
Net Loss	$ (136,230)	$ (47,852)	$ (277,378)	$ (34,179)
Loss per share - basic & diluted (in dollars per share)	$ (1.19)	$ (0.46)	$ (2.44)	$ (0.33)
Weighted average number of shares / units used in computing net loss per share / unit
Basic (in shares)	114,811	104,637	113,628	104,336
Diluted (in shares)	114,811	104,637	113,628	104,336
Oil Sales
Revenues:
Revenue	$ 72,902	$ 98,779	$ 239,038	$ 291,989
Natural Gas Liquids Sales
Revenues:
Revenue	2,926	7,771	11,435	20,902
Natural Gas Sales
Revenues:
Revenue	$ 21,675	$ 38,657	$ 83,306	$ 109,076

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Deficit/Partners' Deficit - USD ($) $ in Thousands	Total	Preferred EquitySeries A Preferred Equity	Preferred EquitySeries B Preferred Equity	Incentive Distribution Equity	Partners' DeficitLimited Partner	Partners' DeficitGeneral Partner	Non-employee directors	Non-employee directorsPartners' DeficitLimited Partner	Common Stock	Common StockNon-employee directors	Additional Paid-in Capital	Additional Paid-in CapitalNon-employee directors	Accumulated Deficit
Shareholders' equity, beginning balance (in shares) at Dec. 31, 2017									0
Shareholders equity, beginning balance at Dec. 31, 2017	$ 0								$ 0		$ 0		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	0				$ 64,367	$ 15							0
Shareholders' equity, ending balance (in shares) at Mar. 31, 2018									0
Shareholders' equity, ending balance at Mar. 31, 2018	0								$ 0		0		0
Partners' equity, beginning balance (in units) at Dec. 31, 2017		2,300,000	7,200,000	100,000	72,595,000
Partners' equity, beginning balance at Dec. 31, 2017		$ 55,192	$ 174,261	$ 30,814	$ (531,794)	(160)
Increase (Decrease) in Partners' Capital [Roll Forward]
Unit-based compensation	0				$ 263
Vesting of restricted and phantom units (in units)					264,000
Vesting of restricted and phantom units	0
Units issued in exchange for Standstill Agreement (in units)					3,800,000
Units issued in exchange for Standstill Agreement	0				$ 5,928
Net loss	0				$ 64,367	15							0
Partners' equity, ending balance (in units) at Mar. 31, 2018		2,300,000	7,200,000	100,000	76,659,000
Partners' equity, ending balance at Mar. 31, 2018		$ 55,192	$ 174,261	$ 30,814	$ (461,236)	(145)
Shareholders' equity, beginning balance (in shares) at Dec. 31, 2017									0
Shareholders equity, beginning balance at Dec. 31, 2017	0								$ 0		0		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(34,179)
Shareholders' equity, ending balance (in shares) at Sep. 30, 2018									106,113,000
Shareholders' equity, ending balance at Sep. 30, 2018	(281,957)								$ 1,061		13,471		(296,489)
Partners' equity, beginning balance (in units) at Dec. 31, 2017		2,300,000	7,200,000	100,000	72,595,000
Partners' equity, beginning balance at Dec. 31, 2017		$ 55,192	$ 174,261	$ 30,814	$ (531,794)	(160)
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss	(34,179)
Partners' equity, ending balance (in units) at Sep. 30, 2018		0	0	0	0
Partners' equity, ending balance at Sep. 30, 2018		$ 0	$ 0	$ 0	$ 0	0
Shareholders' equity, beginning balance (in shares) at Mar. 31, 2018									0
Shareholders equity, beginning balance at Mar. 31, 2018	0								$ 0		0		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	0				$ (50,698)	(12)							0
Shareholders' equity, ending balance (in shares) at Jun. 30, 2018									0
Shareholders' equity, ending balance at Jun. 30, 2018	0								$ 0		0		0
Partners' equity, beginning balance (in units) at Mar. 31, 2018		2,300,000	7,200,000	100,000	76,659,000
Partners' equity, beginning balance at Mar. 31, 2018		$ 55,192	$ 174,261	$ 30,814	$ (461,236)	(145)
Increase (Decrease) in Partners' Capital [Roll Forward]
Unit-based compensation (in units)								60,000
Unit-based compensation	0				$ 315			$ 522
Vesting of restricted and phantom units (in units)					75,000
Vesting of restricted and phantom units	0
Units issued in exchange for Standstill Agreement (in units)					0
Units issued in exchange for Standstill Agreement	0				$ 0
Net loss	0				$ (50,698)	(12)							0
Partners' equity, ending balance (in units) at Jun. 30, 2018		2,300,000	7,200,000	100,000	76,794,000
Partners' equity, ending balance at Jun. 30, 2018		$ 55,192	$ 174,261	$ 30,814	$ (511,097)	(157)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Debt exchange (in shares)									105,000
Debt exchange	16,560								$ 16		16,544
Net loss	(47,852)				0	0							(47,852)
Units issued to Legacy Board of Directors for Services (in shares)										20,000
Units issued to Legacy Board of Directors for Services							$ 100					$ 100
Vesting of restricted and phantom units (in shares)									1,550,000
Corporate Reorganization (in shares)									104,438,000
Corporate Reorganization	(250,765)								$ 1,045		(3,173)		(248,637)
Shareholders' equity, ending balance (in shares) at Sep. 30, 2018									106,113,000
Shareholders' equity, ending balance at Sep. 30, 2018	(281,957)								$ 1,061		13,471		(296,489)
Increase (Decrease) in Partners' Capital [Roll Forward]
Unit-based compensation (in units)								0
Unit-based compensation	0				$ 3,357			$ 0
Vesting of restricted and phantom units (in units)					0
Vesting of restricted and phantom units	0
Units issued in exchange for Standstill Agreement (in units)					0
Units issued in exchange for Standstill Agreement	0				$ 0
Corporate reorganization (in units)		2,300,000	7,200,000	100,000	76,794,000
Corporate reorganization		$ (55,192)	$ (174,261)	$ (30,814)	$ 507,740	157
Net loss	(47,852)				$ 0	0							(47,852)
Partners' equity, ending balance (in units) at Sep. 30, 2018		0	0	0	0
Partners' equity, ending balance at Sep. 30, 2018		$ 0	$ 0	$ 0	$ 0	$ 0
Shareholders' equity, beginning balance (in shares) at Dec. 31, 2018									109,442,000
Shareholders equity, beginning balance at Dec. 31, 2018	(192,631)								$ 1,094		24,752		(218,477)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	4,156										4,156
Debt exchange (in shares)									5,368,000
Debt exchange	3,717								$ 54		3,663
Net loss	(78,378)												(78,378)
Shareholders' equity, ending balance (in shares) at Mar. 31, 2019									114,810,000
Shareholders' equity, ending balance at Mar. 31, 2019	(262,881)								$ 1,148		32,571		(296,600)
Partners' equity, beginning balance at Dec. 31, 2018	(192,631)
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss	(78,378)												(78,378)
Shareholders' equity, beginning balance (in shares) at Dec. 31, 2018									109,442,000
Shareholders equity, beginning balance at Dec. 31, 2018	(192,631)								$ 1,094		24,752		(218,477)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(277,378)
Shareholders' equity, ending balance (in shares) at Sep. 30, 2019									114,810,000
Shareholders' equity, ending balance at Sep. 30, 2019	(453,610)								$ 1,148		40,842		(495,600)
Partners' equity, beginning balance at Dec. 31, 2018	(192,631)
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss	(277,378)
Shareholders' equity, beginning balance (in shares) at Mar. 31, 2019									114,810,000
Shareholders equity, beginning balance at Mar. 31, 2019	(262,881)								$ 1,148		32,571		(296,600)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	4,118										4,118
Net loss	(62,770)												(62,770)
Shareholders' equity, ending balance (in shares) at Jun. 30, 2019									114,810,000
Shareholders' equity, ending balance at Jun. 30, 2019	(321,533)								$ 1,148		36,689		(359,370)
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss	(62,770)												(62,770)
Stock-based compensation	4,153										4,153
Net loss	(136,230)												(136,230)
Shareholders' equity, ending balance (in shares) at Sep. 30, 2019									114,810,000
Shareholders' equity, ending balance at Sep. 30, 2019	(453,610)								$ 1,148		$ 40,842		(495,600)
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss	$ (136,230)												$ (136,230)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net loss		$ (277,378)	$ (34,179)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depletion, depreciation, amortization and accretion		124,526	114,274
Amortization of debt discount and issuance costs		28,775	16,449
Gain on extinguishment of debt		(13,105)	(63,800)
Impairment of long-lived assets		105,533	54,375
Loss on derivatives		43,147	41,203
Equity loss of equity method investees		(1)	10
Stock/unit-based compensation		12,427	16,430
Gains on disposal of assets		327	(14,172)
Changes in assets and liabilities:
Decrease in accounts receivable, oil and natural gas		7,442	1,646
Decrease in accounts receivable, joint interest owners		2,137	12,904
Increase in accounts receivable, other		(12)	0
(Increase) decrease in other assets		(3,924)	2,666
Decrease in accounts payable		(2,305)	(5,255)
(Decrease) increase in accrued oil and natural gas liabilities		(5,316)	11,801
Increase in reorganization items		3,170	0
Increase in other liabilities		53,777	4,862
Total adjustments		356,598	193,393
Net cash provided by operating activities		79,220	159,214
Cash flows from investing activities:
Investment in oil and natural gas properties		(105,716)	(185,302)
Proceeds associated with sale of assets		1,519	35,231
Investment in other equipment		(4,416)	(270)
Corporate Reorganization		0	(3,120)
Distributions from equity method investee		660	0
Net cash settlements (paid) received on commodity derivatives		22,795	(3,992)
Net cash used in investing activities		(85,158)	(157,453)
Cash flows from financing activities:
Proceeds from long-term debt		156,758	524,626
Payments of long-term debt		(134,758)	(496,384)
Payments of debt issuance costs		(3,070)	(27,941)
Net cash provided by (used in) financing activities		18,930	301
Net increase in cash and cash equivalents		12,992	2,062
Cash, beginning of period	[1]	4,361	4,454
Cash, end of period	[1]	17,353	6,516
Non-cash investing and financing activities:
Asset retirement obligation costs and liabilities		30	45
Asset retirement obligations associated with properties sold		(243)	(18,251)
Asset retirement obligations associate with property acquisitions		0	157
Units issued in exchange for Standstill Agreement		0	5,928
Change in accrued capital expenditures		(19,330)	(9,902)
Debt exchange		3,717	16,544
Restricted cash		$ 4,200	$ 3,200
[1]	Inclusive of $4.2 million and $3.2 million of restricted cash as of September 30, 2019 and 2018. See "—Footnote 1—Summary of Significant Accounting Policies" for further discussion

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies (a) Organization, Basis of Presentation and Description of Business Unless the context requires otherwise or unless otherwise noted, all references to “Legacy Reserves,” “Legacy Inc.,” “Legacy,” the “Company,” “we,” “us,” “our” or like terms are to Legacy Reserves Inc. and its subsidiaries for the periods after September 19, 2018, the date the Corporate Reorganization was consummated (as defined below). For the periods prior to September 20, 2018, unless the context requires otherwise or unless otherwise noted, all references to “Legacy Reserves,” “Legacy LP,” “Legacy,” the “Company,” “we,” “us,” “our” or like terms are to Legacy Reserves LP and its subsidiaries. Legacy is an independent energy company engaged in the development, production and acquisition of oil and natural gas properties in the United States. Its current operations are focused on the horizontal development of unconventional plays in the Permian Basin and the cost-efficient management of shallow-decline oil and natural gas wells in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions. The accompanying financial statements have been prepared on the accrual basis of accounting whereby revenues are recognized when earned, and expenses are recognized when incurred. These condensed consolidated financial statements as of September 30, 2019 and for the three and nine months ended September 30, 2019 and 2018 are unaudited. In the opinion of management, such financial statements include the adjustments and accruals, all of which are of a normal recurring nature, that are necessary for a fair presentation of the results for the interim periods. These interim results are not necessarily indicative of results for a full year. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted in this Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in Legacy's Annual Report on Form 10-K for the year ended December 31, 2018. (b) Voluntary Reorganization Under Chapter 11 As discussed further in Note 2, on June 18, 2019 (the “Petition Date”), the Company and certain of its subsidiaries (collectively with the Company, the “Debtors”), filed voluntary petitions (the “Bankruptcy Petitions”) for relief under Chapter 11 of the U.S. Bankruptcy Code (the “Bankruptcy Code”) in the U.S. Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). During the pendency of the Chapter 11 proceedings, the Debtors will operate their businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code. The condensed consolidated financial statements have been prepared as if the Company is a going concern and reflect the application of Accounting Standards Codification 852 “Reorganizations” (“ASC 852”). ASC 852 requires that the financial statements, for periods subsequent to the Chapter 11 filing, distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Accordingly, certain expenses, gains and losses that are realized or incurred in the bankruptcy proceedings are recorded in “reorganization items, net” on the Company’s condensed consolidated statements of operations. In addition, prepetition unsecured and under-secured obligations that may be impacted by the bankruptcy reorganization process have been classified as “liabilities subject to compromise” on the Company’s condensed consolidated balance sheet at September 30, 2019. These liabilities are reported at the amounts expected to be allowed as claims by the Bankruptcy Court, although they may be settled for less. The accompanying condensed consolidated financial statements do not purport to reflect or provide for the consequences of the Chapter 11 proceedings. In particular, the condensed consolidated financial statements do not purport to show: (i) the realizable value of assets on a liquidation basis or their availability to satisfy liabilities; (ii) the amount of prepetition liabilities that may be allowed for claims or contingencies, or the status and priority thereof; (iii) the effect on stockholders' deficit/partners’ deficit accounts of any changes that may be made to the Company’s capitalization; or (iv) the effect on operations of any changes that may be made to the Company’s business. While operating as debtor-in-possession under Chapter 11 of the Bankruptcy Code, the Company may sell or otherwise dispose of or liquidate assets or settle liabilities in amounts other than those reflected on its condensed consolidated financial statements, subject to the approval of the Bankruptcy Court or otherwise as permitted in the ordinary course of business. Further, a plan of reorganization, if confirmed and made effective, could materially change the amounts and classifications on the Company’s historical condensed consolidated financial statements. (c) Accrued Oil and Natural Gas Liabilities Below are the components of accrued oil and natural gas liabilities as of September 30, 2019 and December 31, 2018: September 30, 2019 December 31, 2018 (In thousands) Accrued capital expenditures $ 21,897 $ 41,227 Accrued lease operating expense 19,849 22,750 Revenue payable to joint interest owners 18,836 24,690 Accrued ad valorem tax 9,557 5,255 Other 4,101 4,964 $ 74,240 $ 98,886 (d) Restricted Cash Restricted cash on our Consolidated Balance Sheet as of September 30, 2019 and December 31, 2018 is $4.2 million and $3.3 million respectively, and is included in the "Prepaid expenses and other current assets" line. The restricted cash amounts represent various deposits to secure the performance of contracts, surety bonds and other obligations incurred in the ordinary course of business. Legacy adopted Accounting Standards Update ("ASU") No. 2016-18, "Restricted Cash" as of January 1, 2018. (e) Recent Accounting Pronouncements None. (f) Income Taxes Legacy’s provision for income taxes for the three and nine months ended September 30, 2019 and 2018 is based on the estimated annual effective tax rate plus discrete items. The effective income tax rates were 0.00% and 0.26% for the three months ended September 30, 2019 and 2018, respectively. The effective income tax rates were 0.00% and 4.30% for the nine months ended September 30, 2019 and 2018, respectively. Effective September 20, 2018, pursuant to the Merger Agreement, Legacy Inc. became subject to federal and state income taxes. Prior to consummation of the Corporate Reorganization, Legacy LP was treated as a partnership for federal and state income tax purposes, in which the taxable income or loss was passed through to its unitholders. With the exception of the state of Texas and certain subsidiaries, Legacy LP did not directly pay federal and state income taxes and recognition was not given to federal and state income taxes for its operations. On December 22, 2017, Public Law No. 115-97, commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”) was enacted into law. The provisions of the Tax Act that impact Legacy include, but are not limited to, (1) reducing the U.S. federal corporate income tax rate from 35% to 21%, (2) full expensing of certain qualified property acquired after September 27, 2017, (3) limitations on the maximum deduction for net operating loss (NOL) as well as indefinite life carryforwards for tax years beginning after December 31, 2017 and (4) limitations on the maximum deduction for net business interest expense in tax years beginning after December 31, 2017. Legacy has previously recorded all amounts for the income effects of the Tax Act as of December 31, 2017. All of Legacy's income is sourced within the United States. (g) Leases The new standard was effective for us in the first quarter of 2019, and we adopted the new standard using a modified retrospective approach, with the date of initial application on January 1, 2019. Consequently, upon transition, we recognized an ROU asset and a lease liability, with the cumulative-effect of adoption in retained earnings as of January 1, 2019. We further utilized the package of practical expedients at transition to not reassess the following: • Whether any expired or existing contracts were or contained leases; • The lease classification for any expired or existing leases; and • Initial direct costs for any existing leases. In addition, we elected the practical expedient to not assess whether existing or expired land easements that were not previously accounted for as leases under superseded guidance are or contain a lease under the new leases guidance. We determine if an arrangement is a lease at inception of the arrangement. To the extent that we determine an arrangement represents a lease, we classify that lease as an operating lease or a finance lease. We capitalize operating and finance leases on our consolidated balance sheets through a right-of-use (“ROU”) asset and a corresponding lease liability. ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating leases are included in other property and equipment, other current liabilities, and other long-term liabilities in our consolidated balance sheets. Operating lease ROU assets and liabilities are recognized at the commencement date of an arrangement based on the present value of lease payments over the lease term. The operating lease ROU asset also includes any lease payments made to the lessor prior to lease commencement, less any lease incentives, and initial direct costs incurred. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Finance leases are included in other property and equipment, other current liabilities, and other long-term liabilities in our consolidated balance sheets. Finance lease ROU assets (that is, amounts capitalized in other property and equipment) and liabilities are recognized at the commencement date of an arrangement based on the present value of lease payments over the lease term. The finance lease ROU asset also includes any lease payments made to the lessor prior to lease commencement, less any lease incentives, and initial direct costs incurred. We generally amortize that ROU asset on a straight-line basis, while interest on the lease liability is calculated using the effective interest method. Lease expense recognized under our finance leases is, therefore, comprised of amortization on the finance lease ROU asset and interest on the finance lease liability. Nature of Leases In support of our operations, we lease certain corporate office space, field offices, compressors, drilling rigs, other production equipment, fleet vehicles and storage space under cancelable and non-cancelable contracts. A more detailed description of our material lease types is included below. Corporate and Field Offices We enter into long-term contracts to lease corporate and field office space in support of company operations. These contracts are generally structured with an initial non-cancelable term of two ten Compressors We rent compressors from third parties in order to facilitate the downstream movement of our production to market. Our compressor arrangements are typically structured with a non-cancelable primary term of one to twenty four months and often continue thereafter on a month-to-month basis subject to termination by either party with thirty days’ notice. We have concluded that our compressor rental agreements represent operating leases with a lease term that equals the primary non-cancelable contract term. Upon completion of the primary term, both parties have substantive rights to terminate the lease without incurring a significant penalty. As a result, enforceable rights and obligations do not exist under the rental agreement subsequent to the primary term. To the extent that our compressor rental arrangements have a primary term of twelve months or less, we have elected to apply the practical expedient for short-term leases. For those short-term compressor contracts, we do not apply the lease recognition requirements, and we recognize lease payments related to these arrangements in profit or loss on a straight-line basis over the lease term. Refer to “Practical Expedients & Accounting Policy Elections” below for additional detail. Drilling Rigs We enter into daywork contracts for drilling rigs with third party service contractors to support the development and exploitation of undeveloped reserves and acreage. Our drilling rig arrangements are typically structured with a term that is in effect until drilling operations are completed on a contractually specified well or well pad. Upon mutual agreement with the contractor, we typically have the option to extend the contract term for additional wells or well pads by providing thirty days’ notice prior to the end of the original contract term. We have concluded that our drilling rig arrangements represent short-term operating leases with a lease term that equals the period of time required to complete drilling operations on the contractually specified well or well pad (that is, generally one to a few months from commencement of drilling). We do not include the option to extend the drilling rig contract in the lease term due to the continuously evolving nature of our drilling schedules, which requires significant flexibility in the structure of the term of these arrangements, and the potential volatility in commodity prices in an annual period. We have further elected to apply the practical expedient for short-term leases to our drilling rig leases. Accordingly, we do not apply the lease recognition requirements to our drilling rig contracts, and we recognize lease payments related to these arrangements in capital expenditures on a straight-line basis over the lease term. Refer to “Practical Expedients & Accounting Policy Elections” below for additional detail. Other Production Equipment We rent other production equipment, primarily electric submersible pumps, from third party vendors to be used in our production operations. These arrangements are typically structured with a non-cancelable term of 1 to 3 months and often continue thereafter on a month-to-month basis subject to termination by either party with thirty days’ notice. We have concluded that we are not reasonably certain of executing the month-to-month renewal options beyond a twelve month period based on the historical term for which we have used other production equipment, and, therefore, our other equipment agreements represent operating leases with a lease term up to twelve months. We have further elected to apply the practical expedient for short-term leases to our other production equipment contracts. Accordingly, we do not apply the lease recognition requirements to these contracts, and we recognize lease payments related to these arrangements in profit or loss on a straight-line basis over the lease term. Refer to “Practical Expedients & Accounting Policy Elections” below for additional detail. Fleet Vehicles We execute fleet vehicle leases with a third party vendor in support of our day-to-day drilling and production operations. Our vehicle leases are typically structured with a term of 18 to 48 months. We have concluded that the majority of our vehicle leases represent operating leases. Significant Judgments Discount Rate Our leases typically do not provide an implicit rate, and thus, we are required to use our incremental borrowing rate in determining the present value of lease payments based on the information available at commencement date. Our incremental borrowing rate reflects the rate of interest that we would pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. In order to determine our incremental borrowing rate, we utilized our current credit rating as well as best available market data, which includes public bond information for publicly traded upstream energy companies with similar credit ratings, to estimate our unsecured borrowing rate and applied adjustments to that rate to account for the effect of collateral. Legacy has determined the discount rate as of January 1, 2019 using end of day December 31, 2018 market data. This discount rate was used in the transition to ASC 842 as well as all new leases executed within 2019. Legacy intends to update the discount rate annually thereafter on January 1 to be used for all new leases within the year (for example, the discount rate will be updated as of January 1, 2020 to be applied to all new leases in 2020). In the event a material lease is executed within a fiscal year or there have been material changes in the market that would impact Legacy’s discount rate, Legacy will evaluate whether an intra-year update of the discount rate is required. Variable Lease Cost Practical Expedients & Accounting Policy Elections Certain of our lease agreements include lease and non-lease components. For all current asset classes with multiple component types, we have utilized the practical expedient that exempts us from separating lease components from non-lease components. Accordingly, we account for the lease and non-lease components in an arrangement as a single lease component.

Chapter 11 Proceedings, Ability

Chapter 11 Proceedings, Ability to Continue as a Going Concern and Covenant Violations	9 Months Ended
	Sep. 30, 2019
Reorganizations [Abstract]
Chapter 11 Proceedings, Ability to Continue as a Going Concern and Covenant Violations	Chapter 11 Proceedings, Ability to Continue as a Going Concern and Covenant Violations Chapter 11 Proceedings On the Petition Date, the Debtors filed Bankruptcy Petitions for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court. The Debtors’ Chapter 11 cases are being administered jointly under the caption In re Legacy Reserves Inc., et al. (the “Chapter 11 cases” or “Chapter 11 proceedings”). The Debtors are operating their businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code. Subject to certain exceptions under the Bankruptcy Code, the filing of the Bankruptcy Petitions automatically enjoined or stayed the continuation of any judicial or administrative proceedings or other actions against the Debtors or their property to recover, collect or secure a claim arising or that could have arisen prior to the filing of the Bankruptcy Petitions. The Bankruptcy Court has granted certain relief requested by the Debtors enabling the Company to conduct its business activities in the ordinary course, including, among other things and subject to the terms and conditions of such orders, authorizing us to pay employee wages and benefits, to pay certain taxes and governmental fees and charges, to continue to operate our cash management system in the ordinary course, to secure debtor-in-possession financing, to remit funds we hold from time to time for the benefit of third parties (such as royalty owners), and to pay the prepetition claims of certain of our vendors that hold liens under applicable non-bankruptcy law. For goods and services provided following the Petition Date, the Company intends to pay vendors in full in the ordinary course of business. In connection with the Chapter 11 cases, Legacy LP entered into a senior secured superpriority debtor-in-possession credit agreement, dated as of June 21, 2019, among itself as debtor, debtor-in-possession and borrower, the other loan parties party thereto, as debtors, debtors-in-possession and guarantors, Wells Fargo Bank, National Association, as administrative agent and collateral agent, and the other lenders party thereto (the “DIP Credit Agreement”). See Note 3 for a discussion of the DIP Credit Agreement. Restructuring Support Agreement On June 10, 2019, the Debtors entered into a restructuring support and lock-up agreement (the “Restructuring Support Agreement”) with (i) the lenders (the “Supporting Term Lenders”) under the Term Loan Credit Agreement dated as of October 25, 2016 among Legacy LP, as borrower, the guarantors party thereto, Cortland Capital Market Services LLC, as administrative agent, and the lenders party thereto (as amended, the “Term Loan Credit Agreement”) and (ii) certain lenders (the “Supporting RBL Lenders” and, together with the Supporting Term Lenders, the “Supporting Lenders”) under the Third Amended and Restated Credit Agreement dated as of April 1, 2014 among Legacy LP, as borrower, the guarantors party thereto, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto (as amended, the “Credit Agreement”). Subsequent to entering into the Restructuring Support Agreement, on June 13, 2019, the Company entered into the First Amended and Restated Restructuring Support and Lock-Up Agreement (together with all exhibits and schedules thereto, including the term sheet attached as Exhibit A thereto, the “Amended Restructuring Support Agreement”) with (i) the Supporting Term Lenders, (ii) the Supporting RBL Lenders and (iii) certain (a) holders of 6.625% Senior Notes due 2021 (the “2021 Note Holders”) issued under the indenture dated as of May 28, 2013, by and among Legacy LP, Legacy Reserves Finance Corporation, the guarantors party thereto and Wilmington Trust, National Association (as successor to Wells Fargo Bank, National Association), as indenture trustee (as supplemented, the “2021 Notes Indenture”), (b) holders of 8% Senior Notes due 2020 (the “2020 Note Holders”) issued under the indenture dated as of December 4, 2012, by and among Legacy LP, Legacy Reserves Finance Corporation, the guarantors party thereto and Wilmington Trust, National Association (as successor to Wells Fargo Bank, National Association), as indenture trustee (as supplemented, the “2020 Notes Indenture”) and (c) holders of 8% Convertible Senior Notes due 2023 (together with the 2021 Note Holders and the 2020 Note Holders, the “Supporting Noteholders,” and the Supporting Lenders and the Supporting Noteholders, collectively, the “Supporting Creditors”) issued under the indenture dated as of September 20, 2018, by and among Legacy LP, Legacy Reserves Finance Corporation, the guarantors party thereto and Wilmington Trust, National Association, as indenture trustee and conversion agent (as supplemented, the “2023 Notes Indenture”). The Amended Restructuring Support Agreement contemplates, among other things, that the Company will: (i) file the Chapter 11 proceedings with the Bankruptcy Court to effect a restructuring transaction through a pre-negotiated Chapter 11 plan of reorganization (the “Plan”); (ii) enter into the DIP Credit Agreement; (iii) consummate certain equity investments through a rights offering and committed equity backstops; and (iv) enter into a new senior-secured revolving asset-based lending credit facility in a maximum amount of $500 million (the “Exit Facility”) funded by certain of the lenders under the Credit Agreement (or an alternative senior secured revolving asset-based credit facility approved by the Debtors and the Supporting Term Lenders, if the Exit Facility is not consummated). The Amended Restructuring Support Agreement contains certain covenants on the part of each of the Company and the Supporting Creditors, including that the Supporting Creditors vote in favor of the Plan and otherwise use good faith efforts to negotiate, execute and implement the restructuring transactions contemplated by the Amended Restructuring Support Agreement and the Plan. Additionally, the Amended Restructuring Support Agreement provides for certain conditions to the obligations of the parties and for termination upon the occurrence of certain events, including without limitation, the failure to achieve certain milestones and certain breaches and/or other actions by the parties under the Amended Restructuring Support Agreement. Plan of Reorganization In accordance with the Amended Restructuring Support Agreement, on September 16, 2019, the Debtors filed the Plan supported by the Supporting Creditors and related disclosure statement with the Bankruptcy Court. On September 16, 2019, the Bankruptcy Court entered an order approving the Disclosure Statement. A hearing before the Bankruptcy Court related to the confirmation of the Plan began on November 6, 2019. If the Plan is confirmed, the Debtors expect that they will emerge from bankruptcy during the fourth quarter of 2019. The Plan provides for the following, among other things: • all holders of claims arising under the DIP Facility (as defined below) will receive, in full satisfaction of their respective claims: (i) if the Exit Facility is consummated, (a) on account of claims not under the Refinancing Facility, including claims under the New Money Facility (as defined below), payment in full in cash, (b) on account of claims under the Refinancing Facility (as defined below), distribution of cash and commitments under the Exit Facility; or (ii) if the Exit Facility is not consummated, payment in full in cash; • all holders of claims arising under the Credit Agreement will receive, in full satisfaction of their respective claims, (i) if the Exit Facility is consummated, distribution of their pro rata share of commitments under the Exit Facility in exchange for the claims arising under the Credit Agreement or (ii) if the Exit Facility is not consummated, payment in full in cash; • all holders of claims arising under the Term Loan Credit Agreement will receive their pro rata share of approximately 51.40%, subject to increase, of the new common stock (the “New Common Stock”) to be issued by Legacy, as reorganized pursuant to and under the Plan (“Reorganized Legacy"); • holders of claims arising under the 2020 Notes Indenture, the 2021 Notes Indenture and the 2023 Notes Indenture (the “Noteholders”) will receive their respective pro rata share of (i) 2.50% of the New Common Stock, subject to decrease, (ii) subscription rights to participate in a $66.50 million rights offering (the “Supporting Creditor Plan Rights Offering”), which can be exercised to the extent that such Noteholders are “accredited investors” as defined under Regulation D promulgated under the Securities Act of 1933, as amended (“Securities Act”), and (iii) a share premium of 1.50% of the New Common Stock, available to accredited investors that participate in the Supporting Creditor Plan Rights Offering and non-accredited investors; • all existing equity interests in the Company will receive no recovery under the Plan and will be extinguished; • a $189.8 million committed equity investment by the Supporting Term Lenders; • at the option of the Supporting Term Lenders, an offering of up to $125.0 million of New Common Stock to third parties, the Supporting Term Lenders or the Noteholders; and • the establishment of a customary management incentive plan at Reorganized Legacy under which 10% of the New Common Stock will be reserved for grants made from time to time to employees of Reorganized Legacy. Magnitude of Potential Claims On July 15, 2019, the Debtors filed with the Bankruptcy Court schedules and statements setting forth, among other things, the assets and liabilities of the Debtors, subject to the assumptions filed in connection therewith. The schedules and statements may be subject to further amendment or modification after filing. Non-governmental holders of prepetition claims were required to file proofs of claims by October 14, 2019, and governmental entity holders of prepetition claims are required to file proofs of claim by December 16, 2019. As of October 18, 2019, approximately 1,800 claims totaling approximately $7.2 billion in the aggregate have been filed with the Bankruptcy Court against the Debtors. Differences between amounts scheduled by the Debtors and claims by creditors will be investigated and resolved in connection with the claims resolution process. Liabilities Subject to Compromise The Company’s condensed consolidated balance sheet includes amounts classified as “liabilities subject to compromise,” which represent prepetition liabilities that have been allowed, or that the Company anticipates will be allowed, as claims in its Chapter 11 cases. The amounts represent the Company’s current estimate of known or potential obligations to be resolved in connection with the Chapter 11 proceedings. The differences between the liabilities the Company has estimated and the claims filed, or to be filed, will be investigated and resolved in connection with the claims resolution process. The Company will continue to evaluate these liabilities throughout the Chapter 11 proceedings and adjust amounts as necessary. Such adjustments may be material. The following table summarizes the components of liabilities subject to compromise included on the condensed consolidated balance sheet: September 30, 2019 (In thousands) Debt, net $ 757,449 Accrued interest payable 29,478 Accounts payable 3,169 Liabilities subject to compromise $ 790,096 The Company has discontinued recording interest on debt classified as liabilities subject to compromise on the Petition Date. Contractual interest on liabilities subject to compromise not reflected in the consolidated statements of operations was approximately $23.3 million, representing interest expense from the Petition Date through September 30, 2019. Reorganization Items, Net The Company has incurred and is expected to continue to incur significant costs associated with the reorganization. These costs, which are expensed as incurred, are expected to significantly affect the Company’s results of operations. Reorganization items represent costs and income directly associated with the Chapter 11 proceedings since the Petition Date, and also include adjustments to reflect the carrying value of certain liabilities subject to compromise at their estimated allowed claim amounts, as such adjustments are determined. The following table summarizes the components of reorganization items included on the condensed consolidated statements of operations: Three Months Ended Nine Months Ended September 30, 2019 2019 (In thousands) Professional advisory fees $ 21,201 $ 23,161 Reorganization, items net $ 21,201 $ 23,161 Unsecured Creditors Committee a. Appointment of Unsecured Creditors Committee On July 3, 2019, the United States Trustee appointed the official committee for unsecured creditors (the “Creditors Committee”). The Creditors Committee and its legal representatives have a right to be heard on all matters affecting unsecured creditors that come before the Bankruptcy Court with respect to the Debtors. b. Unsecured Creditors Committee Standing Motion On September 23, 2019, the Creditors Committee filed a motion seeking derivative standing to pursue certain alleged causes of action relating to liens against assets of the Debtors on behalf of the Debtors against Wells Fargo Bank, National Association, in its capacity as administrative agent under the Credit Agreement and Cortland Capital Market Services LLC, in its capacity as administrative agent under the Term Loan Credit Agreement (the “Standing Motion”). On October 15, 2019, the Debtors objected to the Standing Motion on the grounds that, among other things, the potential value related to the Committee’s alleged causes of action would not be sufficient to provide additional recoveries to the holders of notes claims. The Debtors assert that as result, the Creditors Committee cannot satisfy its burden to demonstrate that the causes of action it seeks to prosecute justify the cost of litigation. If necessary, the Bankruptcy Court is currently scheduled to hold a status conference on the Standing Motion on November 21, 2019. Ability to Continue as a Going Concern The Condensed Consolidated Financial Statements included in this quarterly report on Form 10-Q have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and satisfaction of liabilities and commitments in the normal course of business. The Condensed Consolidated Financial Statements do not reflect any adjustments that might result from the outcome of the Chapter 11 proceedings. We have significant indebtedness and our level of indebtedness has adversely impacted and is continuing to adversely impact our financial condition. Our financial condition including operating results, the defaults under our debt agreements and the risks and uncertainties associated with the Chapter 11 proceedings raise doubt as to the Company’s ability to continue as a going concern.

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt The Company’s filing of the Chapter 11 proceedings resulted in the acceleration of the Debtors’ obligations under the Term Loan Credit Agreement and the indentures governing the Senior Notes (as defined below). Additionally, other events of default under the Company's debt agreements, including cross-defaults, are present, including violations of certain financial ratio covenants, the failure to make principal and interest payments on certain of the Company’s indebtedness, as well as the receipt of a going concern explanatory paragraph from the Company’s independent registered public accounting firm on the Company’s consolidated financial statements for the year ended December 31, 2018. Under the Bankruptcy Code, the creditors under these debt agreements are stayed from taking any action against the Company as a result of an event of default. Debt consists of the following as of September 30, 2019 and December 31, 2018: September 30, December 31, 2019 2018 (In thousands) Current debt Credit Facility due 2019 $ 313,000 $ 541,000 Second Lien Term Loans due 2020 — 338,626 Debtor in Possession (DIP) 250,000 — Unamortized debt issuance costs — (17,332) Unamortized discount on Second Lien Term Loans — (5,648) Total current debt, net $ 563,000 856,646 Second Lien Term Loans due 2020 339,812 — 8% Senior Notes due 2020 208,885 208,885 6.625% Senior Notes due 2021 129,529 131,279 8% Convertible Senior Notes due 2023 107,527 128,103 Unamortized debt issuance costs (24,930) (31,517) Unamortized discount on Senior Notes (3,374) (3,827) Total $ 757,449 $ 432,923 Less liabilities subject to compromise (757,449) — Total long-term debt, net $ — $ 432,923 Total debt $ 563,000 $ 1,289,569 DIP Credit Agreement In connection with the Chapter 11 cases, Legacy LP entered into the DIP Credit Agreement, which provides for, among other things, the following: • senior secured superpriority debtor-in-possession credit agreement in an aggregate principal amount of up to $350.0 million (the “DIP Facility”), consisting of (i) a new money revolving loan facility in an aggregate amount of up to $100.0 million (the “New Money Facility”), which includes a sub-facility of up to $1.0 million for the issuance of letters of credit, and (ii) a refinancing term loan in the amount of $250.0 million (the “Refinancing Facility”); • borrowings under the (i) New Money Facility bear interest, at the option of the Company, at a rate per annum equal to the alternate base rate (the “ABR”) plus 4.25% or LIBOR plus 5.25% and (ii) the Refinancing Facility bear interest at a rate per annum equal to the ABR plus 3.50%; • the Company is required to pay an unused commitment fee equal to 1.00% per annum to the lenders under the New Money Facility in respect of the unused commitments thereunder; • the maturity of the DIP Facility to be the earliest to occur of (i) eight months after the petition date, (ii) upon the Bankruptcy Court’s approval of a plan of reorganization and the Company’s exit from Chapter 11, (iii) upon the sale of substantially all of the equity or assets of the Company and (iv) the termination of the DIP Facility during the continuation of an event of default under the DIP Credit Agreement or otherwise pursuant to the terms of the DIP Credit Agreement or by order of the Bankruptcy Court; • proceeds of the DIP Credit Agreement may be used for (i) transaction costs, fees and expenses, (ii) working capital and general corporate purposes in accordance with a budget approved by the lenders, (iii) bankruptcy-related costs and expenses (including restructuring fees and adequate protection payments) and (iv) in the case of the Refinancing Facility, to refinance amounts existing under the Company’s existing credit agreements; • the obligations under the DIP Credit Agreement are secured by a first priority lien on substantially all of the assets of the Company, subject to limited exceptions provided for in the DIP Motion; • the DIP Credit Agreement provides for certain customary covenants applicable to the Company, including covenants requiring delivery of a rolling 13-week operating budget and cash flow forecast, together with a variance report setting forth material variances from the budget; and • the DIP Credit Agreement provides for certain customary events of default, including the failure to achieve certain milestones set forth in the DIP Credit Agreement. As of November 8, 2019, the Company had $28 million drawn under the New Money Facility leaving $72 million of availability under the New Money Facility and $250 million drawn under the Refinancing Facility at a weighted-average interest rate of 10.50%, leaving no availability under the Refinancing Facility. Credit Facility On April 1, 2014, Legacy LP entered into the Credit Agreement. On March 21, 2019, Legacy entered into the Twelfth Amendment to the Credit Agreement which, among other things, extended the maturity of the Credit Agreement from April 1, 2019 to May 31, 2019. Legacy's obligations under the Credit Agreement are secured by mortgages on over 95% of the total value of its oil and natural gas properties as well as a pledge of all of its ownership interests in its operating subsidiaries and Legacy's ownership interests in the General Partner. Concurrently with the Corporate Reorganization, the General Partner and Legacy Inc. provided guarantees of Legacy LP's obligations under the Credit Agreement. The amount available for borrowing at any one time is limited to the borrowing base and contains a $2 million sub-limit for letters of credit. The borrowing base was reaffirmed at $575 million as part of the Twelfth Amendment. Under the terms of the Credit Agreement, the borrowing base was reduced to $570 million on May 22, 2019. Prior to the Corporate Reorganization, the Credit Agreement contained a covenant that prohibited Legacy from paying distributions to its limited partners, including holders of its preferred units, if (i) Total Debt to EBITDA for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements were available was greater than 4.00 to 1.00 or (ii) Legacy had unused lender commitments of less than or equal to 15% of the total lender commitments then in effect. Following the consummation of the Corporate Reorganization, the Credit Agreement contains a covenant that prohibits Legacy from paying dividends to its stockholders, if (i) Total Debt to EBITDA for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available is greater than 3.00 to 1.00 or (ii) Legacy has unused lender commitments of less than or equal to 20% of the total lender commitments then in effect. The Credit Agreement also contains covenants that, among other things, require us to maintain specified ratios or conditions as follows: • as of any day, first lien debt to EBITDA for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to not be greater than 2.50 to 1.00; • as of the last day of any fiscal quarter, secured debt to EBITDA as of the last day of any fiscal quarter for the four fiscal quarters then ending of not more than 4.5 to 1.0; • as of the last day of any fiscal quarter, total EBITDA over the last four quarters to total interest expense over the last four quarters to be greater than 2.0 to 1.0; • consolidated current assets, as of the last day of the most recent quarter and including the unused amount of the total commitments, to consolidated current liabilities as of the last day of the most recent quarter of not less than 1.0 to 1.0, excluding non-cash assets and liabilities under FASB Accounting Standards Codification 815, which includes the current portion of oil, natural gas and interest rate derivatives; and • as of the last day of any fiscal quarter, the ratio of (a) the sum of (i) the net present value using NYMEX forward pricing, discounted at 10 percent per annum, of Legacy’s proved developed producing oil and gas properties as reflected in the most recent reserve report delivered either July 1 or December 31 of each year, as the case may be (giving pro forma effect to material acquisitions or dispositions since the date of such reports) (“PDP PV-10”), (ii) the net mark to market value of Legacy’s commodity derivative agreements and (iii) Legacy’s cash and cash equivalents, in each case as of such date to (b) Secured Debt as of such day to be equal to or less than 1.00 to 1.00. All capitalized terms not defined in the foregoing description have the meaning assigned to them in the Credit Agreement. The Credit Agreement matured on May 31, 2019. As of September 30, 2019, Legacy had approximately $313 million drawn under the Credit Agreement at a weighted-average interest rate of 9.25%, leaving no availability under the Credit Agreement. For the nine-month period ended September 30, 2019, Legacy paid in cash $26.5 million of interest expense on the Credit Agreement, New Money Facility, and Refinancing Facility. Second Lien Term Loan Credit Agreement On October 25, 2016, Legacy entered into the Term Loan Credit Agreement, providing for term loans up to an aggregate principal amount of $300.0 million (the “Second Lien Term Loans”). On March 21, 2019, Legacy entered into the Seventh Amendment to the Term Loan Credit Agreement (as defined below). The Second Lien Term Loans under the Term Loan Credit Agreement are issued with an upfront fee of 2% and bear interest at a rate of 12.00% per annum payable quarterly in cash. Effective March 21, 2019, the Seventh Amendment to the Term Loan Credit Agreement provides an increase of 2.25% to the interest rate paid on all term loans. GSO Capital Partners L.P. (“GSO”) and certain funds and accounts managed, advised or sub-advised, by GSO are the initial lenders thereunder. The Term Loan Credit Agreement matures on August 31, 2021; provided that, if on July 1, 2020, Legacy has greater than or equal to a face amount of $15.0 million of Senior Notes that were outstanding on the date the Term Loan Credit Agreement was entered into or any other senior notes with a maturity date that is earlier than August 31, 2021, the Term Loan Credit Agreement will mature on August 1, 2020. The Second Lien Term Loans are secured on a second lien priority basis by the same collateral that secures Legacy's Credit Agreement and are unconditionally guaranteed on a joint and several basis by the same wholly owned subsidiaries of Legacy that are guarantors under the Credit Agreement. In addition, upon consummation of the Corporate Reorganization, the General Partner and Legacy Inc. became guarantors. On December 31, 2017, Legacy entered into the Third Amendment to the Term Loan Credit Agreement among Legacy, as borrower, Cortland, as administrative agent and second lien collateral agent, and the lenders party thereto, including GSO and certain funds and accounts managed, advised or sub-advised by GSO, which, among other things, increased the maximum amount available for borrowing under the Second Lien Term Loans to $400.0 million, extended the availability of undrawn principal ($60.2 million of availability as of September 30, 2019) to October 25, 2019 and relaxed the asset coverage ratio to 0.85 to 1.00 until the fiscal quarter ended December 31, 2018. Prior to the Corporate Reorganization, the Term Loan Credit Agreement contained a covenant that prohibited Legacy from paying distributions to its limited partners, including holders of its preferred units, if (i) Total Debt to EBITDA for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements were available was greater than 4.00 to 1.00 or (ii) Legacy had unused lender commitments of less than or equal to 15% of the total lender commitments then in effect. Following consummation of the Corporate Reorganization, the Term Loan Credit Agreement contains a covenant that prohibits Legacy from paying dividends to the stockholders, if (i) Total Debt to EBITDA for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available is greater than 3.00 to 1.00 or (ii) Legacy has unused lender commitments of less than or equal to 20% of the total lender commitments then in effect. The Term Loan Credit Agreement also contains covenants that, among other things, requires Legacy to: • not permit, as of the last day of any fiscal quarter, the ratio of the sum of (i) the net present value using NYMEX forward pricing of Legacy’s PDP PV-10, (ii) the net mark to market value of Legacy’s commodity derivative agreements and (iii) Legacy’s cash and cash equivalents to Secured Debt to be less than 0.85 to 1.00 until the fiscal quarter ended December 31, 2018 and 1.00 to 1.00 thereafter; and • not permit, as of the last day of any fiscal quarter, Legacy’s ratio of Secured Debt as of such day to EBITDA for the four fiscal quarters then ending to be greater than 4.50 to 1.00. As of September 30, 2019, we had approximately $339.8 million drawn under the Term Loan Credit Agreement. All capitalized terms used but not defined in the foregoing description have the meaning assigned to them in the Term Loan Credit Agreement. 8% Senior Notes Due 2020 ("2020 Senior Notes") On December 4, 2012, Legacy and its 100% owned subsidiary Legacy Reserves Finance Corporation (together, the "Issuers") completed a private placement offering to eligible purchasers of an aggregate principal amount of $300 million of its 2020 Senior Notes, which were subsequently registered through a public exchange offer that closed on January 8, 2014. The 2020 Senior Notes were issued at 97.848% of par. Legacy has the option to redeem the 2020 Senior Notes, in whole or in part, at any time at the specified redemption prices set forth below together with any accrued and unpaid interest, if any, to the date of redemption. Legacy may be required to offer to repurchase the 2020 Senior Notes at a purchase price of 101% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date, in the event of a change of control as defined by the indenture. Legacy and Legacy Reserves Finance Corporation's obligations under the 2020 Senior Notes are guaranteed by its 100% owned subsidiaries Legacy Reserves Operating GP LLC, Legacy Reserves Operating LP, Legacy Reserves Services LLC., Legacy Reserves Energy Services LLC, Legacy Reserves Marketing LLC., Dew Gathering LLC and Pinnacle Gas Treating LLC, which constitute all of Legacy's wholly-owned subsidiaries other than Legacy Reserves Finance Corporation. In the future, the guarantees may be released or terminated under the following circumstances: (i) in connection with any sale or other disposition of all or substantially all of the properties of the guarantor; (ii) in connection with any sale or other disposition of sufficient capital stock of the guarantor so that it no longer qualifies as Legacy's Restricted Subsidiary (as defined in the indenture); (iii) if designated to be an unrestricted subsidiary; (iv) upon legal defeasance, covenant defeasance or satisfaction and discharge of the indenture; (v) upon the liquidation or dissolution of the guarantor provided no default or event of default has occurred or is occurring; (vi) at such time the guarantor does not have outstanding guarantees of its, or any other guarantor's, other debt; or (vii) upon merging into, or transferring all of its properties to Legacy or another guarantor and ceasing to exist. Refer to "Note 13 - Guarantors -" for further details on Legacy's guarantors. The indenture governing the 2020 Senior Notes (as supplemented, the "2020 Notes Indenture") limits Legacy's ability and the ability of certain of its subsidiaries to (i) sell assets; (ii) pay distributions or dividends on, repurchase or redeem equity interests or purchase or redeem Legacy's subordinated debt, provided that such subsidiaries may pay dividends to the holders of their equity interests (including Legacy) and Legacy may pay distributions to the holders of its equity interests subject to the absence of certain defaults, the satisfaction of a fixed charge coverage ratio test and certain other conditions; (iii) make certain investments; (iv) incur or guarantee additional indebtedness or issue preferred securities; (v) create or incur certain liens; (vi) enter into agreements that restrict distributions or other payments from certain of its subsidiaries to Legacy; (vii) consolidate, merge or transfer all or substantially all of Legacy's assets; (viii) engage in certain transactions with affiliates; (ix) create unrestricted subsidiaries; and (x) engage in certain business activities. These covenants are subject to a number of important exceptions and qualifications. If at any time when the 2020 Senior Notes are rated investment grade by each of Moody's Investors Service, Inc. and Standard & Poor's Ratings Services and no Default (as defined in the indenture) has occurred and is continuing, many of such covenants will terminate and Legacy and its subsidiaries will cease to be subject to such covenants. The 2020 Notes Indenture also includes customary events of default. Legacy is in compliance with all financial and other covenants of the 2020 Senior Notes. However, if the lenders under Legacy's Credit Agreement or Term Loan Credit Agreement were to accelerate the indebtedness under Legacy’s Credit Agreement or Term Loan Credit Agreement as a result of a default, such acceleration could cause a cross-default of all of the 2020 Senior Notes and permit the holders of such notes to accelerate the maturities of such indebtedness. In connection with the exchange of approximately $21.0 million aggregate principal amount of 2020 Senior Notes for the same aggregate principal of the 2023 Convertible Notes and the issuance of 105,020 shares of Common Stock in September 2018, Legacy recognized a $1.4 million gain on extinguishment of debt, which consisted of the difference between (1) the face amount of the exchanged 2020 Senior Notes repurchased net of the unamortized portion of both the original issuer's discount and issuance costs and (2) the fair value of the new 2023 Convertible Notes. During the year ended December 31, 2018, Legacy exchanged 1,000,000 shares of Common Stock for $3.1 million of face amount of its outstanding 2020 Senior Notes. Legacy treated the exchange as an extinguishment of debt. Accordingly, Legacy recognized a gain for the difference between (1) the face amount of the 2020 Senior Notes repurchased net of the unamortized portion of both the original issuer's discount and issuance costs and (2) the fair value of the units issued in the exchange based on the closing price on the date of exchange. During the year ended December 31, 2016, Legacy repurchased a face amount of $52.0 million of its 2020 Senior Notes on the open market. Legacy treated these repurchases as an extinguishment of debt. Accordingly, Legacy recognized a gain for the difference between (1) the face amount of the 2020 Senior Notes repurchased net of the unamortized portion of both the original issuer's discount and issuance costs and (2) the repurchase price. On June 1, 2016, Legacy exchanged 2,719,124 units representing limited partner interests in the Partnership for $15.0 million of face amount of its outstanding 2020 Senior Notes. Legacy treated this exchange as an extinguishment of debt. Accordingly, Legacy recognized a gain for the difference between (1) the face amount of the 2020 Senior Notes repurchased net of the unamortized portion of both the original issuer's discount and issuance costs and (2) the fair value of the units issued in the exchange based on the closing price on June 1, 2016. Interest is payable on June 1 and December 1 of each year. Legacy failed to make an interest payment of approximately $8.4 million due June 1, 2019, on the 8% Senior Notes due 2020. As of September 30, 2019, there was $208.9 million of 2020 Senior Notes outstanding. 6.625% Senior Notes Due 2021 ("2021 Senior Notes") On May 28, 2013, the Issuers completed a private placement offering to eligible purchasers of an aggregate principal amount of $250 million of its 2021 Senior Notes, which were subsequently registered through a public exchange offer that closed on March 18, 2014. The 2021 Senior Notes were issued at 98.405% of par. On May 13, 2014, the Issuers completed a private placement offering to eligible purchasers of an aggregate principal amount of an additional $300 million of the 2021 Senior Notes, which were subsequently registered through a public exchange offer that closed on February 10, 2015. These 2021 Senior Notes were issued at 99.0% of par. The terms of the 2021 Senior Notes, including the Guarantors, are substantially identical to the terms of the 2020 Senior Notes with the exception of the interest rate and redemption provisions noted below. Legacy will have the option to redeem the 2021 Senior Notes, in whole or in part, at the specified redemption prices set forth below together with any accrued and unpaid interest, if any, to the date of redemption. Legacy may be required to offer to repurchase the 2021 Senior Notes at a purchase price of 101% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date, in the event of a change of control as defined by the indenture, as supplemented. Legacy is in compliance with all financial and other covenants of the 2021 Senior Notes. However, if the lenders under Legacy's Current Credit Agreement were to accelerate the indebtedness under Legacy's Current Credit Agreement as a result of a default, such acceleration could cause a cross-default of all of the 2021 Senior Notes and permit the holders of such notes to accelerate the maturities of such indebtedness. On April 2, 2018, following receipt of the requisite consents of the holders of the 2021 Senior Notes, Legacy entered into the Second Supplemental Indenture (the “2021 Notes Supplemental Indenture”) to the initial indenture governing the 2021 Notes (the "2021 Notes Indenture"). On December 31, 2017, Legacy entered into a definitive agreement with certain funds managed by Fir Tree Partners pursuant to which Legacy acquired $187.0 million of the 6.625% Notes for a price of approximately $132 million inclusive of accrued but unpaid interest with a settlement date of January 5, 2018. Legacy treated these repurchases for accounting purposes as an extinguishment of debt. Additionally, Legacy recognized a gain for the difference between (1) the face amount of the 2021 Senior Notes repurchased net of the unamortized portion of both the original issuer's discount and issuance costs and (2) the repurchase price. During the year ended December 31, 2016, Legacy repurchased a face amount of $117.3 million of its 2021 Senior Notes on the open market. Legacy treated these repurchases as an extinguishment of debt. Accordingly, Legacy recognized a gain for the difference between (1) the face amount of the 2021 Senior Notes repurchased net of the unamortized portion of both the original issuer's discount and issuance costs and (2) the repurchase price. Interest is payable on June 1 and December 1 of each year. Legacy failed to make an interest payment of approximately $4.3 million due June 1, 2019, on the 6.625% Senior Notes due 2021. As of September 30, 2019, there was $129.5 million of 2021 Senior Notes outstanding. 8% Convertible Senior Notes Due 2023 ("2023 Convertible Notes") On September 20, 2018, the Issuers, completed private exchanges with certain holders of senior notes, pursuant to which the Issuers exchanged (i) $21.0 million aggregate principal amount of 2020 Senior Notes for $21.0 million aggregate principal amount of 2023 Convertible Notes and 105,020 shares of common stock and (ii) $109.0 million aggregate principal amount of 2021 Senior Notes for $109.0 million aggregate principal amount of 2023 Convertible Notes. The 2023 Convertible Notes were issued pursuant to an Indenture, dated as of September 20, 2018 (the “2023 Convertible Note Indenture”). Upon issuance, Legacy separately accounted for the liability and equity components in accordance with Accounting Standards Codification 470-20. The initial fair value of the 2023 Convertible Notes in its entirety (inclusive of the equity component related to the conversion option) was estimated using observable inputs such as trades that occurred on the day of the transaction. The liability component was recorded at the estimated fair value of a similar debt instrument without the conversion feature. The difference between the aggregate principal amount of the 2023 Convertible Notes and the fair value of the liability component was recorded as a debt discount and is being amortized to interest expense over the term of the notes using the effective interest method. The fair value of the liability component of the 2023 Convertible Notes was estimated at $101 million, resulting in a debt discount of $29 million. The equity component, representing the value of the conversion option, was computed by deducting the fair value of the liability component from the initial fair value of the 2023 Convertible Notes. The equity component was recorded in additional paid-in capital within stockholders’ equity and will not be remeasured as long as it continues to meet the conditions for equity classification. The 2023 Convertible Notes mature on September 20, 2023, unless earlier repurchased or redeemed by the Issuers or converted. The 2023 Convertible Notes are subject to redemption for cash, in whole or in part, at the Issuers’ option at a redemption price equal to 100% of the 2023 Convertible Notes to be redeemed, plus any accrued and unpaid interest. In addition, the Issuers are required to make an offer to holders of the 2023 Convertible Notes upon a change of control at a price equal to 101%, plus any accrued and unpaid interest, and an offer to holders of the 2023 Convertible Notes upon consummation by the Issuers or any restricted subsidiaries of certain asset sales at a price equal to 100%, plus any accrued and unpaid interest. The 2023 Convertible Notes are convertible into shares of common stock at an initial conversion rate of 166.6667 shares per $1,000 principal amount of 2023 Convertible Notes, which is equal to an initial conversion price of $6.00 per share of common stock (the "Conversion Price"). The 2023 Convertible Notes are convertible, at the option of the holders, into shares of common stock at any time from the date of issuance up until the close of business on the earlier of (i) the business day prior to the date of a mandatory conversion notice, (ii) with respect to a 2023 Convertible Note called for redemption, the business day immediately preceding the redemption date or (iii) the business day immediately preceding the maturity date. In addition, if a holder exercises its right to convert on or prior to September 19, 2019, such holder will receive an early conversion payment, in cash, per $1,000 principal amount as follows: Early Conversion Date Early Conversion Payment December 1, 2018 through May 31, 2019 $64.22 June 1, 2019 through September 19, 2019 $24.22 Subject to compliance with certain conditions, the Issuers have the right to mandatorily convert all of the 2023 Convertible Notes if the volume weighted average price of the common stock equals or exceeds the conversion price for at least 20 trading days (whether or not consecutive) during any period of 30 consecutive trading days commencing on or after the initial issuance date. The 2023 Convertible Notes are guaranteed by Legacy Inc., the General Partner, Legacy Reserves Operating GP LLC, Legacy Reserves Operating LP, Legacy Reserves Services LLC, Legacy Reserves Energy Services LLC, Legacy Reserves Marketing LLC, Dew Gathering LLC and Pinnacle Gas Treating LLC. The terms of the 2023 Convertible Notes, including the Guarantors, are substantially identical to the terms of the 2020 Senior Notes and 2021 Senior Notes with the exception of the interest rate, conversion and redemption provisions noted above. As of September 30, 2019, $107.5 million of 2023 Convertible Notes were outstanding. Interest is payable on June 1 and December 1 of each year. Legacy failed to make an interest payment of approximately $4.3 million due June 1, 2019, on the 8% Senior Notes due 2023.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Oil, NGL and natural gas sales revenues are generally recognized at the point in time that control of the product is transferred to the customer and collectability is reasonably assured. This generally occurs when oil or natural gas has been delivered to a pipeline or truck. A more detailed summary of the sale of each product type is included below. Oil Sales Legacy's oil sales contracts are generally structured such that Legacy sells its oil production to the purchaser at a contractually specified delivery point at or near the wellhead. The crude oil production is priced on the delivery date based upon prevailing index prices less certain deductions related to oil quality and physical location. Legacy recognizes revenue when control transfers to the purchaser upon delivery at the net price received from purchaser. NGL and Natural Gas Sales Under Legacy's gas processing contracts, Legacy delivers wet gas to a midstream processing entity at the wellhead or the inlet of the midstream processing entity’s system. The midstream processing entity processes the natural gas and remits proceeds to Legacy for the resulting sales of NGLs and residue gas. In these scenarios, Legacy evaluates whether it is the principal or the agent in the transaction. In virtually all of Legacy's gas processing contracts, Legacy has concluded that it is the agent, and the midstream processing entity is Legacy's customer. Accordingly, Legacy recognizes revenue upon delivery based on the net amount of the proceeds received from the midstream processing entity. Proceeds are generally tied to the prevailing index prices for residue gas and NGLs less deductions for gathering, processing, transportation and other expenses. Under Legacy's dry gas sales that do not require processing, Legacy sells its natural gas production to third party purchasers at a contractually specified delivery point at or near the wellhead. Pricing provisions are tied to a market index, with certain deductions based on, among other factors, whether a well delivers to a gathering or transmission line, quality of natural gas, and prevailing supply and demand conditions, so that the price of the natural gas fluctuates to remain competitive with other available natural gas supplies. Legacy recognizes revenue upon delivery of the natural gas to third party purchasers based on the relevant index price net of deductions. Imbalances Natural gas imbalances occur when Legacy sells more or less than its entitled ownership percentage of total natural gas production. Any amount received in excess of its share is treated as a liability. If Legacy receives less than its entitled share, the underproduction is recorded as a receivable. Legacy did not have any significant natural gas imbalance positions as of September 30, 2019 and December 31, 2018. Disaggregation of Revenue Legacy has identified three material revenue streams in its business: oil sales, NGL sales, and natural gas sales. Revenue attributable to each of Legacy's identified revenue streams is disaggregated in the table below. Three Months Ended Nine Months Ended September 30, 2019 2019 (In thousands) Revenues: Oil sales $ 72,902 $ 239,038 Natural gas liquids (NGL) sales 2,926 11,435 Natural gas sales 21,675 83,306 Total revenues $ 97,503 $ 333,779 Significant Judgments Principal versus agent Legacy engages in various types of transactions in which midstream entities process its gas and subsequently market resulting NGLs and residue gas to third-party customers on Legacy's behalf, such as Legacy's percentage-of-proceeds and gas purchase contracts. These types of transactions require judgment to determine whether Legacy is the principal or the agent in the contract and, as a result, whether revenues are recorded gross or net. Transaction price allocated to remaining performance obligations A significant number of Legacy's product sales are short-term in nature with a contract term of one year or less. For those contracts, Legacy has utilized the practical expedient in ASC 606 that exempts it from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. For Legacy's product sales that have a contract term greater than one year, Legacy has utilized the practical expedient in ASC 606 that states that it is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under these sales contracts, each unit of product represents a separate performance obligation; therefore future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. Contract balances Under Legacy's product sales contracts, it is entitled to payment from purchasers once its performance obligations have been satisfied upon delivery of the product, at which point payment is unconditional, and record invoiced amounts as “Accounts receivable - oil and natural gas” in its consolidated balance sheet. To the extent actual volumes and prices of oil and natural gas are unavailable for a given reporting period because of timing or information not received from third parties, the expected sales volumes and prices for those properties are estimated and also recorded as “Accounts receivable - oil and natural gas” in the accompanying consolidated balance sheets. In this scenario, payment is also unconditional, as Legacy has satisfied its performance obligations through delivery of the relevant product. As a result, Legacy has concluded that its product sales do not give rise to contract assets or liabilities under ASC 606. Prior-period performance obligations Legacy records revenue in the month production is delivered to the purchaser. However, settlement statements for certain oil, natural gas and NGL sales may not be received for 30 to 60 days after the month of production, and as a result, Legacy is required to estimate the amount of production that was delivered to the midstream purchaser and the price that will be received for the sale of the product. Additionally, to the extent actual volumes and prices of oil are unavailable for a given reporting period because of timing or information not received from third party purchasers, the expected sales volumes and prices for those barrels of oil are also estimated.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, Legacy is a party to various legal proceedings arising in the ordinary course of business. While the outcome of lawsuits cannot be predicted with certainty, Legacy is not currently a party to any proceeding that it believes could have a potential material adverse effect on its financial condition, results of operations or cash flows. Legacy is subject to numerous laws and regulations governing the discharge of materials into the environment or otherwise relating to environmental protection. To the extent laws are enacted or other governmental action is taken that restricts drilling or imposes environmental protection requirements that result in increased costs to the oil and natural gas industry in general, the business and prospects of Legacy could be adversely affected.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are classified and disclosed in one of the following categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Legacy considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. This category includes those derivative instruments that Legacy values using observable market data. Substantially all of these inputs are observable in the marketplace throughout the term of the derivative instrument, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category include non-exchange traded derivatives such as over-the-counter commodity price swaps and collars and interest rate swaps as well as long-term incentive plan liabilities calculated using the Black-Scholes model to estimate the fair value as of the measurement date. Level 3: Measured based on prices or valuation models that require inputs that are both significant to the fair value measurement and less observable from objective sources (i.e. supported by little or no market activity). Legacy’s valuation models are primarily industry standard models that consider various inputs including: (a) quoted forward prices for commodities, (b) time value, and (c) current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Level 3 instruments currently are limited to Midland-Cushing crude oil differential swaps. Although Legacy utilizes third party broker quotes to assess the reasonableness of its prices and valuation techniques, Legacy does not have sufficient corroborating evidence to support classifying these assets and liabilities as Level 2. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Legacy’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. Fair Value on a Recurring Basis As required by the Twelfth Amendment to the Credit Agreement, all of Legacy’s derivative positions were unwound on May 28, 2019. Legacy entered into new derivative positions following approval from the Bankruptcy Court on July 25, 2019. The following tables sets forth by level within the fair value hierarchy Legacy's Financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2019 and December 31, 2018: September 30, 2019 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Gross Amounts Offset in the Consolidated Balance Sheets Net Amounts Presented in the Consolidated Balance Sheets (In thousands) Assets: Current Commodity derivatives $ — $ 4,955 $ — $ 4,955 $ (1,412) $ 3,543 Interest rate derivatives — — — — — — Noncurrent Commodity derivatives — — — — — — Interest rate derivatives — — — — — — Liabilities: Current Commodity derivatives — (1,648) — (1,648) 1,412 (236) Noncurrent Commodity derivatives — — — — — — Net fair value instruments $ — $ 3,307 $ — $ 3,307 $ — $ 3,307 December 31, 2018 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Gross Amounts Offset in the Consolidated Balance Sheets Net Amounts Presented in the Consolidated Balance Sheets (In thousands) Assets: Current Commodity derivatives $ — $ 69,288 $ — $ 69,288 $ (4,670) $ 64,618 Interest rate derivatives — 2,044 — 2,044 — 2,044 Noncurrent Commodity derivatives — 3,473 — 3,473 (338) 3,135 Interest rate derivatives — — — — — — Liabilities: Current Commodity derivatives — (4,670) — (4,670) 4,670 — Noncurrent Commodity derivatives — (888) — (888) 338 (550) Net fair value instruments $ — $ 69,247 $ — $ 69,247 $ — $ 69,247 Legacy estimates the fair values of the commodity derivatives based on published forward commodity price curves for the underlying commodities as of the date of the estimate for those commodities for which published forward pricing is readily available. For those commodity derivatives for which forward commodity price curves are not readily available, Legacy estimates, with the assistance of third-party pricing experts, the forward curves as of the date of the estimate. Legacy validates the data provided by third parties by understanding the pricing models used, obtaining market values from other pricing sources, analyzing pricing data in certain situations and confirming, where applicable, that those securities trade in active markets. Legacy estimates the option value of puts and calls combined into hedges, including three-way collars and enhanced swaps, using an option pricing model which takes into account market volatility, market prices, contract parameters and discount rates based on published London interbank offered rates ("LIBOR") and interest rate swaps. Due to the lack of an active market for periods beyond one-month from the balance sheet date for its oil price differential swaps, Legacy has reviewed historical differential prices and known economic influences to estimate a reasonable forward curve of future pricing scenarios based upon these factors. In order to estimate the fair value of our interest rate swaps, Legacy uses a yield curve based on money market rates and interest rate swaps, extrapolates a forecast of future interest rates, estimates each future cash flow, derives discount factors to value the fixed and floating rate cash flows of each swap, and then discounts to present value all known (fixed) and forecasted (floating) swap cash flows. Curve building and discounting techniques used to establish the theoretical market value of interest bearing securities are based on readily available money market rates and interest swap market data. The determination of the fair values above incorporates various factors including the impact of our non-performance risk and the credit standing of the counterparties involved in Legacy’s derivative contracts. The risk of nonperformance by Legacy’s counterparties is mitigated by the fact that most of our current counterparties (or their affiliates) are also current or former bank lenders under the Legacy’s revolving credit facility. In addition, Legacy routinely monitors the creditworthiness of its counterparties. As the factors described above are based on significant assumptions made by management, these assumptions are the most sensitive to change. The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy: Significant Unobservable Inputs (Level 3) Three Months Ended Nine Months Ended 2019 2018 2019 2018 (In thousands) Beginning balance $ — $ 31,616 $ — $ (5,088) Total gains — (3,720) — 36,696 Settlements, net — (11,839) — (15,551) Ending balance $ — $ 16,057 $ — $ 16,057 Gains (losses) included in earnings relating to derivatives still held as of September 30, 2019 and 2018 $ — $ (5,630) $ — $ 17,680 During periods of market disruption, including periods of volatile oil and natural gas prices, rapid credit contraction or illiquidity, it may be difficult to value certain of Legacy's derivative instruments if trading becomes less frequent and/or market data becomes less observable. There may be certain asset classes that were previously in active markets with observable data that become illiquid due to changes in the financial environment. In such cases, more derivative instruments may fall to Level 3 and thus require more subjectivity and management judgment. As such, valuations may include inputs and assumptions that are less observable or require greater estimation as well as valuation methods which are more sophisticated or require greater estimation thereby resulting in valuations with less certainty. Further, rapidly changing commodity and unprecedented credit and equity market conditions could materially impact the valuation of derivative instruments as reported within Legacy's consolidated financial statements and the period-to-period changes in value could vary significantly. Decreases in value may have a material adverse effect on Legacy's results of operations or financial condition. Fair Value on a Non-Recurring Basis Nonfinancial assets and liabilities measured at fair value on a non-recurring basis include certain nonfinancial assets and liabilities as may be acquired in a business combination and thereby measured at fair value; measurements of oil and natural gas property impairments; and the initial recognition of asset retirement obligations ("ARO") for which fair value is used. These ARO estimates are derived from historical costs as well as management’s expectation of future cost environments. As there is no corroborating market activity to support the assumptions used, Legacy has designated these liabilities as Level 3. A reconciliation of the beginning and ending balances of Legacy’s asset retirement obligation is presented in Note 8. Nonrecurring fair value measurements of proved oil and natural gas properties during the nine months ended September 30, 2019 consist of adjustments of the carrying value oil and natural gas properties to their fair value of $75.4 million. Legacy incurred impairment charges of $105.5 million as oil and natural gas properties with a net cost basis of $180.9 million were written down to their fair value of $75.4 million. Legacy periodically reviews oil and natural gas properties for impairment when facts and circumstances indicate that their carrying value may not be recoverable. In order to determine whether the carrying value of an asset is recoverable, Legacy compares net capitalized costs of proved oil and natural gas properties to estimated undiscounted future net cash flows using management’s expectations of future oil and natural gas prices. These future price scenarios reflect Legacy’s estimation of future price volatility. If the net capitalized cost exceeds the undiscounted future net cash flows, Legacy writes the net cost basis down to the discounted future net cash flows, which is management's estimate of fair value. Significant inputs used to determine the fair value include estimates of: (i) reserves; (ii) future operating and development costs; (iii) future commodity prices; and (iv) a market-based weighted average cost of capital rate. The underlying commodity prices embedded in the Company's estimated cash flows are the product of a process that begins with NYMEX forward curve pricing, adjusted for estimated location and quality differentials, as well as other factors that Legacy's management believes will impact realizable prices. The inputs used by management for the fair value measurements utilized in this review include significant unobservable inputs, and therefore, the fair value measurements employed are classified as Level 3 for these types of assets. The carrying amount of the revolving debt of $313 million and refinancing facility of $250 million as of September 30, 2019 approximates fair value because Legacy's current borrowing rate does not materially differ from market rates for similar bank borrowings. Legacy has classified the revolving debt as a Level 2 item within the fair value hierarchy. The carrying amount of the second lien term loan debt under Legacy’s Second Lien Term Loan Credit Agreement approximates fair value because Legacy’s current borrowing rate does not materially differ from market rates for similar borrowings. Legacy has classified the Second Lien Term Loans as a Level 2 item within the fair value hierarchy. As of September 30, 2019, the fair values of the 2020 Senior Notes, the 2021 Senior Notes and the 2023 Convertible Notes were $9.4 million, $3.7 million and $3.8 million, respectively. As these valuations are based on unadjusted quoted prices in an active market, the fair values are classified as Level 1 items within the fair value hierarchy.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Commodity derivative transactions Due to the volatility of oil and natural gas prices, Legacy periodically enters into price-risk management transactions (e.g., swaps, enhanced swaps or collars) for a portion of its oil and natural gas production to achieve a more predictable cash flow, as well as to reduce exposure from price fluctuations. While the use of these arrangements limits Legacy’s ability to benefit from increases in the prices of oil and natural gas, it also reduces Legacy’s potential exposure to adverse price movements. Legacy’s arrangements, to the extent it enters into any, apply to only a portion of its production, provide only partial price protection against declines in oil and natural gas prices and limit Legacy’s potential gains from future increases in prices. None of these instruments are used for trading or speculative purposes. These derivative instruments are intended to mitigate a portion of Legacy’s price-risk and may be considered hedges for economic purposes, but Legacy has chosen not to designate them as cash flow hedges for accounting purposes. Therefore, all derivative instruments are recorded on the balance sheet at fair value with changes in fair value being recorded in current period earnings. By using derivative instruments to mitigate exposures to changes in commodity prices, Legacy exposes itself to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes Legacy, which creates credit risk. Legacy minimizes the credit or repayment risk in derivative instruments by entering into transactions with high-quality counterparties. The following table sets forth a reconciliation of the changes in fair value of Legacy's commodity derivatives for the three and nine months ended September 30, 2019 and 2018: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Beginning fair value of commodity derivatives $ — $ 508 $ 67,205 $ 6,318 Total gain (loss) - oil derivatives 3,062 (31,325) (38,537) (39,149) Total gain (loss) - natural gas derivatives 1,581 458 (2,566) (2,737) Crude oil derivative cash settlements paid (received) (712) 1,702 (8,657) 12,905 Natural gas derivative cash settlements paid (received) (624) (2,919) (14,138) (8,913) Ending fair value of commodity derivatives $ 3,307 $ (31,576) $ 3,307 $ (31,576) As of September 30, 2019, Legacy had the following NYMEX West Texas Intermediate ("WTI") crude oil swaps paying floating prices and receiving fixed prices for a portion of its future oil production as indicated below: Time Period Volumes (Bbls) Average Price per Bbl Price Range per Bbl October - December 2019 1,104,000 $57.01 $56.25 - $58.19 As of September 30, 2019, Legacy had the following Midland-to-Cushing crude oil differential swaps paying a floating differential and receiving a fixed differential for a portion of its future oil production as indicated below: Time Period Volumes (Bbls) Average Price per Bbl Price Range per Bbl October - December 2019 920,000 $(0.33) $(0.35) - $(0.30) As of September 30, 2019, Legacy had the following NYMEX Henry Hub natural gas swaps paying floating natural gas prices and receiving fixed prices for a portion of its future natural gas production as indicated below: Time Period Volumes (MMBtu) Average Price per MMBtu Price Range per MMBtu October - December 2019 11,040,000 $2.47 $2.421 - $2.508 As of September 30, 2019, Legacy had the following CIG natural gas swaps paying floating NYMEX Henry Hub price less a fixed differential as indicated below: Time Period Volumes (MMBtu) Average Price per MMBtu Price Range per MMBtu October - December 2019 3,680,000 $(0.47) $(0.475) - $(0.473) As of September 30, 2019, Legacy had the following WAHA natural gas swaps paying floating NYMEX Henry Hub prices less a fixed differential as indicated below: Time Period Volumes (MMBtu) Average Price per MMBtu Price per MMBtu October - December 2019 2,576,000 $(0.85) $(0.85) Interest rate derivative transactions Due to the volatility of interest rates, Legacy periodically enters into interest rate risk management transactions in the form of interest rate swaps for a portion of its outstanding debt balance. These transactions allow Legacy to reduce exposure to interest rate fluctuations. While the use of these arrangements limits Legacy’s ability to benefit from decreases in interest rates, it also reduces Legacy’s potential exposure to increases in interest rates. Legacy’s arrangements, to the extent it enters into any, apply to only a portion of its outstanding debt balance, provide only partial protection against interest rate increases and limit Legacy’s potential savings from future interest rate declines. It is never management’s intention to hold or issue derivative instruments for speculative trading purposes. Conditions sometimes arise where actual borrowings are less than notional amounts hedged, which has, and could result in overhedged amounts. Legacy does not designate these derivatives as cash flow hedges, even though they reduce its exposure to changes in interest rates. Therefore, the mark-to-market of these instruments is recorded in current earnings as a component of interest expense. The total impact on interest expense from the mark-to-market and settlements was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Beginning fair value of interest rate swaps $ — $ 3,084 $ 2,044 $ 2,117 Total gain on interest rate swaps — 144 (119) 1,459 Cash settlements received — (428) (1,925) (776) Ending fair value of interest rate swaps $ — $ 2,800 $ — $ 2,800

Asset Retirement Obligation

Asset Retirement Obligation	9 Months Ended
	Sep. 30, 2019
Asset Retirement Obligation [Abstract]
Asset Retirement Obligation	Asset Retirement Obligation An asset retirement obligation (“ARO”) associated with the retirement of a tangible long-lived asset is recognized as a liability in the period in which it is incurred and becomes determinable. When liabilities for dismantlement and abandonment costs, excluding salvage values, are initially recorded, the carrying amount of the related oil and natural gas properties is increased. The fair value of the additions to the ARO asset and liability is estimated using valuation techniques that convert future cash flows to a single discounted amount. Significant inputs to the valuation include estimates of: (i) plug and abandon costs per well based on existing regulatory requirements; (ii) remaining life per well; (iii) future inflation factors; and (iv) a credit-adjusted risk-free interest rate. These inputs require significant judgments and estimates by Legacy's management at the time of the valuation and are the most sensitive and subject to change. Accretion of the liability is recognized each period using the interest method of allocation, and the capitalized cost is depleted using the units of production method. Should either the estimated life or the estimated abandonment costs of a property change materially upon Legacy’s periodic review, a new calculation is performed using the same methodology of taking the abandonment cost and inflating it forward to its abandonment date and then discounting it back to the present using Legacy’s credit-adjusted-risk-free rate. The carrying value of the ARO is adjusted to the newly calculated value, with a corresponding offsetting adjustment to the asset retirement cost. When obligations are relieved by sale of the property or plugging and abandoning the well, the related liability and asset costs are removed from Legacy's balance sheet. Any difference in the cost to plug and the related liability is recorded as a gain or loss on Legacy's statement of operations in the disposal of assets line item. The following table reflects the changes in the ARO during the nine months ended September 30, 2019 and year ended December 31, 2018: September 30, 2019 December 31, 2018 (In thousands) Asset retirement obligation - beginning of period $ 252,734 $ 274,686 Liabilities incurred with properties acquired — 226 Liabilities incurred with properties drilled 30 65 Liabilities settled during the period (2,560) (2,258) Liabilities associated with properties sold (243) (27,673) Current period accretion 9,706 12,568 Current period revisions to previous estimates — (4,880) Asset retirement obligation - end of period $ 259,667 $ 252,734

Stockholders' Deficit_Partners'

Stockholders' Deficit/Partners' Deficit	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Stockholders' Deficit/Partners' Deficit	Stockholders' Deficit / Partners' Deficit Preferred Units On September 20, 2018, in connection with the Corporate Reorganization, all of Legacy LP's 8% Series A Fixed-to-Floating Cumulative Redeemable Perpetual Preferred Units and 8.000% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units outstanding were converted into shares of common stock. Incentive Distribution Units On September 20, 2018, all of Legacy LP's Incentive Distribution Units outstanding were canceled in connection with the Corporate Reorganization. Loss per share / unit The following table sets forth the computation of basic and diluted income per share / unit: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Net Loss (136,230) $ (47,852) $ (277,378) $ (34,179) Weighted average number of shares / units outstanding - basic 114,811 104,637 113,628 104,336 Effect of dilutive securities: Restricted shares — — — — Weighted average number of shares / units outstanding - diluted 114,811 104,637 113,628 104,336 Basic and Diluted loss per share / units $ (1.19) $ (0.46) $ (2.44) $ (0.33) For the nine months ended September 30, 2019, 7,647,191 restricted stock units were excluded from the calculation of diluted loss per share due to their anti-dilutive effect. For the three and nine months ended September 30, 2018, 4,687,324 restricted units were excluded from the calculation of diluted loss per share due to their anti-dilutive effect. As of September 30, 2019, 17,921,170 shares related to 2023 Convertible Notes were excluded from the calculation of diluted earnings per share due to their anti-dilutive effect.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Legacy LP Long-Term Incentive Plan On March 15, 2006, a Long-Term Incentive Plan (as amended, “Legacy LP LTIP”) for Legacy was created and Legacy adopted the Legacy LP LTIP for its employees, consultants and directors, its affiliates and its general partner. The awards under the long-term incentive plan may include unit grants, restricted units, phantom units, unit options and unit appreciation rights (“UARs”). The Legacy LP LTIP permits the grant of awards that may be made or settled in units up to an aggregate of 5,000,000 units. As of September 30, 2018, grants of awards net of forfeitures and, in the case of phantom units, historical exercises covering 3,459,197 units had been made, comprised of 266,014 unit option awards, 988,207 restricted unit awards, 1,424,114 phantom unit awards and 780,862 unit awards. Pursuant to the terms of the Corporate Reorganization, the Legacy LP LTIP was terminated. Unit Appreciation Rights Legacy LP previously issued UARs under the Legacy LP LTIP to employees. A unit appreciation right is a notional unit that entitles the holder, upon vesting, to receive cash valued at the difference between the closing price of units on the exercise date and the exercise price, as determined on the date of grant. Because these awards were settled in cash, Legacy accounted for the UARs by utilizing the liability method. For the nine-months ended September 30, 2018, Legacy recorded $(0.2) million of compensation (benefit) expense due to the change in liability from December 31, 2017, based on its use of the Black-Scholes model to estimate the September 30, 2018 fair value of these UARs. Legacy LP did not issue UARs to employees during the year ended December 31, 2018. All outstanding UARs vested on September 20, 2018 in connection with the Corporate Reorganization and were subsequently exercised or forfeited. Phantom Units Legacy LP previously issued phantom units under the Legacy LP LTIP to executive officers. A phantom unit is a notional unit that entitles the holder, upon vesting, to receive either one Partnership unit for each phantom unit or the cash equivalent of a Partnership unit, as stipulated by the form of the grant. Legacy accounted for the phantom units settled in Partnership units by utilizing the equity method. Legacy accounted for the phantom units settled in cash by utilizing the liability method. On September 20, 2018, in connection with the Corporate Reorganization, 391,674 Phantom units that settle in cash and 1,032,440 phantom units that settle in units vested. Compensation expense related to the phantom units was $30.7 million for the nine months ended September 30, 2018. All phantom units vested on September 20, 2018 in connection with the Corporate Reorganization. Restricted Units Legacy LP previously issued restricted units to certain employees and members of management. All restricted units vested on September 20, 2018 in connection with the Corporate Reorganization. Compensation expense related to restricted units was $0.8 million for the nine months ended September 30, 2018. Board Units On May 15, 2018, Legacy granted and issued 12,450 units to four non-employee directors of Legacy LP who serve on the Board of Directors of Legacy and 6,010 units to two non-employee directors of Legacy LP who, after the corporate reorganization, do not serve on the Board of Directors of Legacy Inc. The value of each unit was $8.69 at the time of issuance. Legacy Reserves Inc. 2018 Omnibus Incentive Plan On September 19, 2018, the Legacy Inc. 2018 Omnibus Incentive Plan (the "Legacy Inc. LTIP") was approved by the former unitholders of Legacy LP in connection with the Corporate Reorganization for it and its affiliates' employees, consultants and directors. The Legacy Inc. LTIP provides for up to 10,500,000 shares (the "Share Reserve") to be used for awards, and that the Share Reserve will increase proportionately by 10% of all shares of common stock issued by Legacy Inc. after the effective date of the Legacy Inc. LTIP and before the first anniversary of the effective date. The awards under the Legacy Inc. LTIP may include stock grants, restricted stock, restricted stock units ("RSUs") and stock options. As of September 30, 2019, grants of awards net of forfeitures covering 7,679,761 shares had been made, compromised of 7,647,191 restricted stock units and 32,570 stock awards. Restricted Stock Units During the nine months ended September 30, 2019, Legacy issued an aggregate 516,594 RSUs to executive and non-executive employees. The RSUs vest over a three The following table summarizes the status of RSU activity since January 1, 2019: Number of Restricted Stock Units Grant Date Fair Value Outstanding at January 1, 2019 7,302,809 $ 4.88 Granted 516,594 $ 1.32 Cancelled/Forfeited (172,212) $ 4.11 Outstanding at September 30, 2019 7,647,191 $ 4.66 As of September 30, 2019, there was a total of $19.0 million of unrecognized compensation expense related to the unvested portion of these RSUs. At September 30, 2019, this cost was expected to be recognized over a weighted-average period of 2.48 years. Pursuant to the provisions of ASC 718, Legacy’s issued shares, as reflected in the accompanying consolidated balance sheet at September 30, 2019, do not include 7,647,191 shares related to unvested RSUs. Board Shares On September 25, 2018, Legacy granted and issued 5,030 shares to four non-employee directors who serve on the Board of Directors of Legacy in accordance with Legacy's director compensation policy. The value of each share was $4.97 at the time of issuance. On October 16, 2018, Legacy granted and issued 12,450 shares to one non-employee director who serves on the Board of Directors of Legacy in accordance with Legacy's director compensation policy. The value of each share was $5.02 at the time of issuance.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Effective September 20, 2018, pursuant to the Merger Agreement, Legacy Inc. became subject to federal and state income taxes. Prior to consummation of the Corporate Reorganization, Legacy LP was treated as a partnership for federal and state income tax purposes, in which the taxable income or loss was passed through to its unitholders. Legacy LP was subject to Texas margin tax. In addition, certain of Legacy LP’s subsidiaries were c-corporations subject to federal and state income taxes. Therefore, with the exception of the state of Texas and certain subsidiaries, Legacy LP did not directly pay federal and state income taxes and recognition was not given to federal and state income taxes for its operations. On December 22, 2017, Public Law No. 115-97, commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”) was enacted into law. The provisions of the Tax Act that impact us include, but are not limited to, (1) reducing the U.S. federal corporate income tax rate from 35% to 21%, (2) temporary bonus depreciation that will allow for full expensing of certain qualified property acquired after September 27, 2017, (3) limitations on the maximum deduction for net operating loss (NOL) carryforwards generated in tax years beginning after December 31, 2017, to 80 percent of a taxpayer’s taxable income and (4) limitations on the maximum deduction for net business interest expense in tax years beginning after December 31, 2017, to 30% of the taxpayer’s adjusted taxable income. We have previously reported preliminary amounts for the income effects of the Tax Act for Legacy as of December 31, 2017. For the nine months ended September 30, 2019 and 2018 we recorded income/(loss) before income taxes of $(277,377) and $(31,063) respectively. All of Legacy's income is sourced within the United States. The effective combined U.S. federal and state income tax rates were 0.00% and negative 10.03% for the nine months ended September 30, 2019 and 2018, respectively. During the nine months ended September 30, 2019, the Legacy Inc. has recorded a full valuation allowance against its deferred tax position. A valuation allowance has been recorded as management does not believe that it is more-likely-than-not that its deferred tax assets will be realized.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases As previously described in Note 1 – Summary of Significant Accounting Policies, we lease certain office space, office equipment, production field offices, compressors, drilling rigs, vehicles and other production equipment under cancellable and non-cancelable leases to support our operations. The components of our total lease cost were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2019 (In thousands) Operating lease cost $ 773 $ 2,409 Finance lease cost: Amortization of right-of-use assets 83 145 Interest on lease liabilities 66 118 Total finance lease costs $ 149 $ 263 Short-term lease cost $ 3,524 $ 10,409 Total $ 4,446 $ 13,081 Supplemental cash flow information related to our leases is included in the table below: Three Months Ended Nine Months Ended September 30, September 30, 2019 2019 (In thousands) Cash paid for amounts included in lease liabilities: Operating cash flows from operating leases $ 4,297 $ 12,818 Operating cash flows from finance leases 149 263 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 51 $ 4,573 Finance leases 281 1,286 Supplemental balance sheet information related to our leases is included in the table below: Nine Months Ended September 30, 2019 (In thousands) Operating Leases Operating lease right-of-use assets $ 2,851 Other current liabilities (2,207) Other long-term liabilities (884) Total operating lease liabilities $ (3,091) Finance Leases Other property and equipment 1,286 Accumulated depreciation and amortization (191) Other property and equipment, net $ 1,095 Other current liabilities (421) Other long-term liabilities (720) Total finance lease liabilities $ (1,141) Our weighted average remaining lease term and weighted average discount rate by lease classification were as follows: Nine Months Ended September 30, 2019 Weighted Average Remaining Lease Term (Years) Operating leases 1.67 Finance leases 2.49 Weighted Average Discount Rate Operating leases 24.43 % Finance leases 24.43 % Our lease liabilities with enforceable contract terms that are greater than one year mature as follows: Operating Leases Finance Leases (in thousands) Year 1 $ 2,690 $ 655 Year 2 646 570 Year 3 253 277 Year 4 205 29 Year 5 43 — Thereafter — — Total lease payments $ 3,837 $ 1,531 Less imputed interest (746) (390) Total $ 3,091 $ 1,141
Leases	Leases As previously described in Note 1 – Summary of Significant Accounting Policies, we lease certain office space, office equipment, production field offices, compressors, drilling rigs, vehicles and other production equipment under cancellable and non-cancelable leases to support our operations. The components of our total lease cost were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2019 (In thousands) Operating lease cost $ 773 $ 2,409 Finance lease cost: Amortization of right-of-use assets 83 145 Interest on lease liabilities 66 118 Total finance lease costs $ 149 $ 263 Short-term lease cost $ 3,524 $ 10,409 Total $ 4,446 $ 13,081 Supplemental cash flow information related to our leases is included in the table below: Three Months Ended Nine Months Ended September 30, September 30, 2019 2019 (In thousands) Cash paid for amounts included in lease liabilities: Operating cash flows from operating leases $ 4,297 $ 12,818 Operating cash flows from finance leases 149 263 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 51 $ 4,573 Finance leases 281 1,286 Supplemental balance sheet information related to our leases is included in the table below: Nine Months Ended September 30, 2019 (In thousands) Operating Leases Operating lease right-of-use assets $ 2,851 Other current liabilities (2,207) Other long-term liabilities (884) Total operating lease liabilities $ (3,091) Finance Leases Other property and equipment 1,286 Accumulated depreciation and amortization (191) Other property and equipment, net $ 1,095 Other current liabilities (421) Other long-term liabilities (720) Total finance lease liabilities $ (1,141) Our weighted average remaining lease term and weighted average discount rate by lease classification were as follows: Nine Months Ended September 30, 2019 Weighted Average Remaining Lease Term (Years) Operating leases 1.67 Finance leases 2.49 Weighted Average Discount Rate Operating leases 24.43 % Finance leases 24.43 % Our lease liabilities with enforceable contract terms that are greater than one year mature as follows: Operating Leases Finance Leases (in thousands) Year 1 $ 2,690 $ 655 Year 2 646 570 Year 3 253 277 Year 4 205 29 Year 5 43 — Thereafter — — Total lease payments $ 3,837 $ 1,531 Less imputed interest (746) (390) Total $ 3,091 $ 1,141

Guarantors

Guarantors	9 Months Ended
	Sep. 30, 2019
Guarantees [Abstract]
Guarantors	GuarantorsLegacy LP's 2020 Senior Notes were issued in a private offering on December 4, 2012 and were subsequently registered through a public exchange offer that closed on January 8, 2014. Legacy LP's 2021 Senior Notes were issued in two separate private offerings on May 28, 2013 and May 8, 2014. $250 million aggregate principal amount of our 2021 Senior Notes were subsequently registered through a public exchange offer that closed on March 18, 2014. The remaining $300 million of aggregate principal amount of Legacy's 2021 Senior Notes were subsequently registered through a public exchange offer that closed on February 10, 2015. Legacy LP's 2023 Convertible Notes were issued in exchange for portions of the 2020 Senior Notes and 2021 Senior Notes on September 20, 2018. The 2020 Senior Notes, the 2021 Senior Notes and the 2023 Convertible Notes are guaranteed by Legacy LP's 100% owned subsidiaries Legacy Reserves Operating GP LLC, Legacy Reserves Operating LP, Legacy Reserves Services LLC, Legacy Reserves Energy Services LLC, Legacy Reserves Marketing LLC, Dew Gathering LLC and Pinnacle Gas Treating LLC, which constitute all of Legacy's wholly-owned subsidiaries other than Legacy Reserves Finance Corporation, and certain other future subsidiaries (the “Guarantors”, together with any future 100% owned subsidiaries that guarantee the Partnership's 2020 Senior Notes, 2021 Senior Notes and the 2023 Convertible Notes, the “Subsidiaries”) as well as Legacy Inc. and the General Partner, as parent guarantors (the "Parent Guarantors"). The Subsidiaries are 100% owned, directly or indirectly, by the Partnership and the guarantees by the Subsidiaries are full and unconditional, except for customary release provisions described in “—Footnote 3—Debt.” Legacy LP is 100% owned, directly or indirectly, by the Parent Guarantors and the guarantees by the Parent Guarantors are full and unconditional, except for customary release provisions described in “—Footnote 3—Debt.” Legacy LP has no assets or operations independent of the Subsidiaries, and there are no significant restrictions upon the ability of the Subsidiaries to distribute funds to the Partnership. The guarantees constitute joint and several obligations of the Guarantors and Parent Guarantors.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsNone.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Basis of Presentation and Description of Business	Organization, Basis of Presentation and Description of Business Unless the context requires otherwise or unless otherwise noted, all references to “Legacy Reserves,” “Legacy Inc.,” “Legacy,” the “Company,” “we,” “us,” “our” or like terms are to Legacy Reserves Inc. and its subsidiaries for the periods after September 19, 2018, the date the Corporate Reorganization was consummated (as defined below). For the periods prior to September 20, 2018, unless the context requires otherwise or unless otherwise noted, all references to “Legacy Reserves,” “Legacy LP,” “Legacy,” the “Company,” “we,” “us,” “our” or like terms are to Legacy Reserves LP and its subsidiaries. Legacy is an independent energy company engaged in the development, production and acquisition of oil and natural gas properties in the United States. Its current operations are focused on the horizontal development of unconventional plays in the Permian Basin and the cost-efficient management of shallow-decline oil and natural gas wells in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions. The accompanying financial statements have been prepared on the accrual basis of accounting whereby revenues are recognized when earned, and expenses are recognized when incurred. These condensed consolidated financial statements as of September 30, 2019 and for the three and nine months ended September 30, 2019 and 2018 are unaudited. In the opinion of management, such financial statements include the adjustments and accruals, all of which are of a normal recurring nature, that are necessary for a fair presentation of the results for the interim periods. These interim results are not necessarily indicative of results for a full year. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted in this Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in Legacy's Annual Report on Form 10-K for the year ended December 31, 2018.
Voluntary Reorganization Under Chapter 11	Voluntary Reorganization Under Chapter 11 As discussed further in Note 2, on June 18, 2019 (the “Petition Date”), the Company and certain of its subsidiaries (collectively with the Company, the “Debtors”), filed voluntary petitions (the “Bankruptcy Petitions”) for relief under Chapter 11 of the U.S. Bankruptcy Code (the “Bankruptcy Code”) in the U.S. Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). During the pendency of the Chapter 11 proceedings, the Debtors will operate their businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code. The condensed consolidated financial statements have been prepared as if the Company is a going concern and reflect the application of Accounting Standards Codification 852 “Reorganizations” (“ASC 852”). ASC 852 requires that the financial statements, for periods subsequent to the Chapter 11 filing, distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Accordingly, certain expenses, gains and losses that are realized or incurred in the bankruptcy proceedings are recorded in “reorganization items, net” on the Company’s condensed consolidated statements of operations. In addition, prepetition unsecured and under-secured obligations that may be impacted by the bankruptcy reorganization process have been classified as “liabilities subject to compromise” on the Company’s condensed consolidated balance sheet at September 30, 2019. These liabilities are reported at the amounts expected to be allowed as claims by the Bankruptcy Court, although they may be settled for less. The accompanying condensed consolidated financial statements do not purport to reflect or provide for the consequences of the Chapter 11 proceedings. In particular, the condensed consolidated financial statements do not purport to show: (i) the realizable value of assets on a liquidation basis or their availability to satisfy liabilities; (ii) the amount of prepetition liabilities that may be allowed for claims or contingencies, or the status and priority thereof; (iii) the effect on stockholders' deficit/partners’ deficit accounts of any changes that may be made to the Company’s capitalization; or (iv) the effect on operations of any changes that may be made to the Company’s business. While operating as debtor-in-possession under Chapter 11 of the Bankruptcy Code, the Company may sell or otherwise dispose of or liquidate assets or settle liabilities in amounts other than those reflected on its condensed consolidated financial statements, subject to the approval of the Bankruptcy Court or otherwise
Restricted Cash	Restricted CashRestricted cash on our Consolidated Balance Sheet as of September 30, 2019 and December 31, 2018 is $4.2 million and $3.3 million respectively, and is included in the "Prepaid expenses and other current assets" line. The restricted cash amounts represent various deposits to secure the performance of contracts, surety bonds and other obligations incurred in the ordinary course of business. Legacy adopted Accounting Standards Update ("ASU") No. 2016-18, "Restricted Cash" as of January 1, 2018.
Income Taxes	Income Taxes Legacy’s provision for income taxes for the three and nine months ended September 30, 2019 and 2018 is based on the estimated annual effective tax rate plus discrete items. The effective income tax rates were 0.00% and 0.26% for the three months ended September 30, 2019 and 2018, respectively. The effective income tax rates were 0.00% and 4.30% for the nine months ended September 30, 2019 and 2018, respectively. Effective September 20, 2018, pursuant to the Merger Agreement, Legacy Inc. became subject to federal and state income taxes. Prior to consummation of the Corporate Reorganization, Legacy LP was treated as a partnership for federal and state income tax purposes, in which the taxable income or loss was passed through to its unitholders. With the exception of the state of Texas and certain subsidiaries, Legacy LP did not directly pay federal and state income taxes and recognition was not given to federal and state income taxes for its operations. On December 22, 2017, Public Law No. 115-97, commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”) was enacted into law. The provisions of the Tax Act that impact Legacy include, but are not limited to, (1) reducing the U.S. federal corporate income tax rate from 35% to 21%, (2) full expensing of certain qualified property acquired after September 27, 2017, (3) limitations on the maximum deduction for net operating loss (NOL) as well as indefinite life carryforwards for tax years beginning after December 31, 2017 and (4) limitations on the maximum deduction for net business interest expense in tax years beginning after December 31, 2017. Legacy has previously recorded all amounts for the income effects of the Tax Act as of December 31, 2017.
Leases	LeasesThe new standard was effective for us in the first quarter of 2019, and we adopted the new standard using a modified retrospective approach, with the date of initial application on January 1, 2019. Consequently, upon transition, we recognized an ROU asset and a lease liability, with the cumulative-effect of adoption in retained earnings as of January 1, 2019. We further utilized the package of practical expedients at transition to not reassess the following: • Whether any expired or existing contracts were or contained leases; • The lease classification for any expired or existing leases; and • Initial direct costs for any existing leases. In addition, we elected the practical expedient to not assess whether existing or expired land easements that were not previously accounted for as leases under superseded guidance are or contain a lease under the new leases guidance. We determine if an arrangement is a lease at inception of the arrangement. To the extent that we determine an arrangement represents a lease, we classify that lease as an operating lease or a finance lease. We capitalize operating and finance leases on our consolidated balance sheets through a right-of-use (“ROU”) asset and a corresponding lease liability. ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating leases are included in other property and equipment, other current liabilities, and other long-term liabilities in our consolidated balance sheets. Operating lease ROU assets and liabilities are recognized at the commencement date of an arrangement based on the present value of lease payments over the lease term. The operating lease ROU asset also includes any lease payments made to the lessor prior to lease commencement, less any lease incentives, and initial direct costs incurred. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Finance leases are included in other property and equipment, other current liabilities, and other long-term liabilities in our consolidated balance sheets. Finance lease ROU assets (that is, amounts capitalized in other property and equipment) and liabilities are recognized at the commencement date of an arrangement based on the present value of lease payments over the lease term. The finance lease ROU asset also includes any lease payments made to the lessor prior to lease commencement, less any lease incentives, and initial direct costs incurred. We generally amortize that ROU asset on a straight-line basis, while interest on the lease liability is calculated using the effective interest method. Lease expense recognized under our finance leases is, therefore, comprised of amortization on the finance lease ROU asset and interest on the finance lease liability. Nature of Leases In support of our operations, we lease certain corporate office space, field offices, compressors, drilling rigs, other production equipment, fleet vehicles and storage space under cancelable and non-cancelable contracts. A more detailed description of our material lease types is included below. Corporate and Field Offices We enter into long-term contracts to lease corporate and field office space in support of company operations. These contracts are generally structured with an initial non-cancelable term of two ten Compressors We rent compressors from third parties in order to facilitate the downstream movement of our production to market. Our compressor arrangements are typically structured with a non-cancelable primary term of one to twenty four months and often continue thereafter on a month-to-month basis subject to termination by either party with thirty days’ notice. We have concluded that our compressor rental agreements represent operating leases with a lease term that equals the primary non-cancelable contract term. Upon completion of the primary term, both parties have substantive rights to terminate the lease without incurring a significant penalty. As a result, enforceable rights and obligations do not exist under the rental agreement subsequent to the primary term. To the extent that our compressor rental arrangements have a primary term of twelve months or less, we have elected to apply the practical expedient for short-term leases. For those short-term compressor contracts, we do not apply the lease recognition requirements, and we recognize lease payments related to these arrangements in profit or loss on a straight-line basis over the lease term. Refer to “Practical Expedients & Accounting Policy Elections” below for additional detail. Drilling Rigs We enter into daywork contracts for drilling rigs with third party service contractors to support the development and exploitation of undeveloped reserves and acreage. Our drilling rig arrangements are typically structured with a term that is in effect until drilling operations are completed on a contractually specified well or well pad. Upon mutual agreement with the contractor, we typically have the option to extend the contract term for additional wells or well pads by providing thirty days’ notice prior to the end of the original contract term. We have concluded that our drilling rig arrangements represent short-term operating leases with a lease term that equals the period of time required to complete drilling operations on the contractually specified well or well pad (that is, generally one to a few months from commencement of drilling). We do not include the option to extend the drilling rig contract in the lease term due to the continuously evolving nature of our drilling schedules, which requires significant flexibility in the structure of the term of these arrangements, and the potential volatility in commodity prices in an annual period. We have further elected to apply the practical expedient for short-term leases to our drilling rig leases. Accordingly, we do not apply the lease recognition requirements to our drilling rig contracts, and we recognize lease payments related to these arrangements in capital expenditures on a straight-line basis over the lease term. Refer to “Practical Expedients & Accounting Policy Elections” below for additional detail. Other Production Equipment We rent other production equipment, primarily electric submersible pumps, from third party vendors to be used in our production operations. These arrangements are typically structured with a non-cancelable term of 1 to 3 months and often continue thereafter on a month-to-month basis subject to termination by either party with thirty days’ notice. We have concluded that we are not reasonably certain of executing the month-to-month renewal options beyond a twelve month period based on the historical term for which we have used other production equipment, and, therefore, our other equipment agreements represent operating leases with a lease term up to twelve months. We have further elected to apply the practical expedient for short-term leases to our other production equipment contracts. Accordingly, we do not apply the lease recognition requirements to these contracts, and we recognize lease payments related to these arrangements in profit or loss on a straight-line basis over the lease term. Refer to “Practical Expedients & Accounting Policy Elections” below for additional detail. Fleet Vehicles We execute fleet vehicle leases with a third party vendor in support of our day-to-day drilling and production operations. Our vehicle leases are typically structured with a term of 18 to 48 months. We have concluded that the majority of our vehicle leases represent operating leases. Significant Judgments Discount Rate Our leases typically do not provide an implicit rate, and thus, we are required to use our incremental borrowing rate in determining the present value of lease payments based on the information available at commencement date. Our incremental borrowing rate reflects the rate of interest that we would pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. In order to determine our incremental borrowing rate, we utilized our current credit rating as well as best available market data, which includes public bond information for publicly traded upstream energy companies with similar credit ratings, to estimate our unsecured borrowing rate and applied adjustments to that rate to account for the effect of collateral. Legacy has determined the discount rate as of January 1, 2019 using end of day December 31, 2018 market data. This discount rate was used in the transition to ASC 842 as well as all new leases executed within 2019. Legacy intends to update the discount rate annually thereafter on January 1 to be used for all new leases within the year (for example, the discount rate will be updated as of January 1, 2020 to be applied to all new leases in 2020). In the event a material lease is executed within a fiscal year or there have been material changes in the market that would impact Legacy’s discount rate, Legacy will evaluate whether an intra-year update of the discount rate is required. Variable Lease Cost Practical Expedients & Accounting Policy Elections Certain of our lease agreements include lease and non-lease components. For all current asset classes with multiple component types, we have utilized the practical expedient that exempts us from separating lease components from non-lease components. Accordingly, we account for the lease and non-lease components in an arrangement as a single lease component.
Revenue Recognition	Revenue from Contracts with Customers Oil, NGL and natural gas sales revenues are generally recognized at the point in time that control of the product is transferred to the customer and collectability is reasonably assured. This generally occurs when oil or natural gas has been delivered to a pipeline or truck. A more detailed summary of the sale of each product type is included below. Oil Sales Legacy's oil sales contracts are generally structured such that Legacy sells its oil production to the purchaser at a contractually specified delivery point at or near the wellhead. The crude oil production is priced on the delivery date based upon prevailing index prices less certain deductions related to oil quality and physical location. Legacy recognizes revenue when control transfers to the purchaser upon delivery at the net price received from purchaser. NGL and Natural Gas Sales Under Legacy's gas processing contracts, Legacy delivers wet gas to a midstream processing entity at the wellhead or the inlet of the midstream processing entity’s system. The midstream processing entity processes the natural gas and remits proceeds to Legacy for the resulting sales of NGLs and residue gas. In these scenarios, Legacy evaluates whether it is the principal or the agent in the transaction. In virtually all of Legacy's gas processing contracts, Legacy has concluded that it is the agent, and the midstream processing entity is Legacy's customer. Accordingly, Legacy recognizes revenue upon delivery based on the net amount of the proceeds received from the midstream processing entity. Proceeds are generally tied to the prevailing index prices for residue gas and NGLs less deductions for gathering, processing, transportation and other expenses. Under Legacy's dry gas sales that do not require processing, Legacy sells its natural gas production to third party purchasers at a contractually specified delivery point at or near the wellhead. Pricing provisions are tied to a market index, with certain deductions based on, among other factors, whether a well delivers to a gathering or transmission line, quality of natural gas, and prevailing supply and demand conditions, so that the price of the natural gas fluctuates to remain competitive with other available natural gas supplies. Legacy recognizes revenue upon delivery of the natural gas to third party purchasers based on the relevant index price net of deductions. Imbalances Natural gas imbalances occur when Legacy sells more or less than its entitled ownership percentage of total natural gas production. Any amount received in excess of its share is treated as a liability. If Legacy receives less than its entitled share, the underproduction is recorded as a receivable. Legacy did not have any significant natural gas imbalance positions as of September 30, 2019 and December 31, 2018.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of components of accrued oil and natural gas liabilities	Below are the components of accrued oil and natural gas liabilities as of September 30, 2019 and December 31, 2018: September 30, 2019 December 31, 2018 (In thousands) Accrued capital expenditures $ 21,897 $ 41,227 Accrued lease operating expense 19,849 22,750 Revenue payable to joint interest owners 18,836 24,690 Accrued ad valorem tax 9,557 5,255 Other 4,101 4,964 $ 74,240 $ 98,886

Chapter 11 Proceedings, Abili_2

Chapter 11 Proceedings, Ability to Continue as a Going Concern and Covenant Violations (Tables)	9 Months Ended
	Sep. 30, 2019
Reorganizations [Abstract]
Condensed balance sheet	The following table summarizes the components of liabilities subject to compromise included on the condensed consolidated balance sheet: September 30, 2019 (In thousands) Debt, net $ 757,449 Accrued interest payable 29,478 Accounts payable 3,169 Liabilities subject to compromise $ 790,096 The Company has discontinued recording interest on debt classified as liabilities subject to compromise on the Petition Date. Contractual interest on liabilities subject to compromise not reflected in the consolidated statements of operations was approximately $23.3 million, representing interest expense from the Petition Date through September 30, 2019.
Condensed income statement	The following table summarizes the components of reorganization items included on the condensed consolidated statements of operations: Three Months Ended Nine Months Ended September 30, 2019 2019 (In thousands) Professional advisory fees $ 21,201 $ 23,161 Reorganization, items net $ 21,201 $ 23,161

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt	Debt consists of the following as of September 30, 2019 and December 31, 2018: September 30, December 31, 2019 2018 (In thousands) Current debt Credit Facility due 2019 $ 313,000 $ 541,000 Second Lien Term Loans due 2020 — 338,626 Debtor in Possession (DIP) 250,000 — Unamortized debt issuance costs — (17,332) Unamortized discount on Second Lien Term Loans — (5,648) Total current debt, net $ 563,000 856,646 Second Lien Term Loans due 2020 339,812 — 8% Senior Notes due 2020 208,885 208,885 6.625% Senior Notes due 2021 129,529 131,279 8% Convertible Senior Notes due 2023 107,527 128,103 Unamortized debt issuance costs (24,930) (31,517) Unamortized discount on Senior Notes (3,374) (3,827) Total $ 757,449 $ 432,923 Less liabilities subject to compromise (757,449) — Total long-term debt, net $ — $ 432,923 Total debt $ 563,000 $ 1,289,569
Convertible debt	In addition, if a holder exercises its right to convert on or prior to September 19, 2019, such holder will receive an early conversion payment, in cash, per $1,000 principal amount as follows: Early Conversion Date Early Conversion Payment December 1, 2018 through May 31, 2019 $64.22 June 1, 2019 through September 19, 2019 $24.22

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	Legacy has identified three material revenue streams in its business: oil sales, NGL sales, and natural gas sales. Revenue attributable to each of Legacy's identified revenue streams is disaggregated in the table below. Three Months Ended Nine Months Ended September 30, 2019 2019 (In thousands) Revenues: Oil sales $ 72,902 $ 239,038 Natural gas liquids (NGL) sales 2,926 11,435 Natural gas sales 21,675 83,306 Total revenues $ 97,503 $ 333,779

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of financial assets and liabilities that were accounted for at fair value on a recurring basis	The following tables sets forth by level within the fair value hierarchy Legacy's Financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2019 and December 31, 2018: September 30, 2019 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Gross Amounts Offset in the Consolidated Balance Sheets Net Amounts Presented in the Consolidated Balance Sheets (In thousands) Assets: Current Commodity derivatives $ — $ 4,955 $ — $ 4,955 $ (1,412) $ 3,543 Interest rate derivatives — — — — — — Noncurrent Commodity derivatives — — — — — — Interest rate derivatives — — — — — — Liabilities: Current Commodity derivatives — (1,648) — (1,648) 1,412 (236) Noncurrent Commodity derivatives — — — — — — Net fair value instruments $ — $ 3,307 $ — $ 3,307 $ — $ 3,307 December 31, 2018 Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Gross Amounts Offset in the Consolidated Balance Sheets Net Amounts Presented in the Consolidated Balance Sheets (In thousands) Assets: Current Commodity derivatives $ — $ 69,288 $ — $ 69,288 $ (4,670) $ 64,618 Interest rate derivatives — 2,044 — 2,044 — 2,044 Noncurrent Commodity derivatives — 3,473 — 3,473 (338) 3,135 Interest rate derivatives — — — — — — Liabilities: Current Commodity derivatives — (4,670) — (4,670) 4,670 — Noncurrent Commodity derivatives — (888) — (888) 338 (550) Net fair value instruments $ — $ 69,247 $ — $ 69,247 $ — $ 69,247
Reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3	The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy: Significant Unobservable Inputs (Level 3) Three Months Ended Nine Months Ended 2019 2018 2019 2018 (In thousands) Beginning balance $ — $ 31,616 $ — $ (5,088) Total gains — (3,720) — 36,696 Settlements, net — (11,839) — (15,551) Ending balance $ — $ 16,057 $ — $ 16,057 Gains (losses) included in earnings relating to derivatives still held as of September 30, 2019 and 2018 $ — $ (5,630) $ — $ 17,680

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of reconciliation of the changes in fair value of Legacy's commodity derivatives	The following table sets forth a reconciliation of the changes in fair value of Legacy's commodity derivatives for the three and nine months ended September 30, 2019 and 2018: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Beginning fair value of commodity derivatives $ — $ 508 $ 67,205 $ 6,318 Total gain (loss) - oil derivatives 3,062 (31,325) (38,537) (39,149) Total gain (loss) - natural gas derivatives 1,581 458 (2,566) (2,737) Crude oil derivative cash settlements paid (received) (712) 1,702 (8,657) 12,905 Natural gas derivative cash settlements paid (received) (624) (2,919) (14,138) (8,913) Ending fair value of commodity derivatives $ 3,307 $ (31,576) $ 3,307 $ (31,576)
Schedule of of notional amounts of outstanding derivative positions	As of September 30, 2019, Legacy had the following NYMEX West Texas Intermediate ("WTI") crude oil swaps paying floating prices and receiving fixed prices for a portion of its future oil production as indicated below: Time Period Volumes (Bbls) Average Price per Bbl Price Range per Bbl October - December 2019 1,104,000 $57.01 $56.25 - $58.19 As of September 30, 2019, Legacy had the following Midland-to-Cushing crude oil differential swaps paying a floating differential and receiving a fixed differential for a portion of its future oil production as indicated below: Time Period Volumes (Bbls) Average Price per Bbl Price Range per Bbl October - December 2019 920,000 $(0.33) $(0.35) - $(0.30) As of September 30, 2019, Legacy had the following NYMEX Henry Hub natural gas swaps paying floating natural gas prices and receiving fixed prices for a portion of its future natural gas production as indicated below: Time Period Volumes (MMBtu) Average Price per MMBtu Price Range per MMBtu October - December 2019 11,040,000 $2.47 $2.421 - $2.508 As of September 30, 2019, Legacy had the following CIG natural gas swaps paying floating NYMEX Henry Hub price less a fixed differential as indicated below: Time Period Volumes (MMBtu) Average Price per MMBtu Price Range per MMBtu October - December 2019 3,680,000 $(0.47) $(0.475) - $(0.473) As of September 30, 2019, Legacy had the following WAHA natural gas swaps paying floating NYMEX Henry Hub prices less a fixed differential as indicated below: Time Period Volumes (MMBtu) Average Price per MMBtu Price per MMBtu October - December 2019 2,576,000 $(0.85) $(0.85)
Schedule of total impact on interest expense from the mark-to-market and settlements	The total impact on interest expense from the mark-to-market and settlements was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Beginning fair value of interest rate swaps $ — $ 3,084 $ 2,044 $ 2,117 Total gain on interest rate swaps — 144 (119) 1,459 Cash settlements received — (428) (1,925) (776) Ending fair value of interest rate swaps $ — $ 2,800 $ — $ 2,800

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	9 Months Ended
	Sep. 30, 2019
Asset Retirement Obligation [Abstract]
Schedule of asset retirement obligations	The following table reflects the changes in the ARO during the nine months ended September 30, 2019 and year ended December 31, 2018: September 30, 2019 December 31, 2018 (In thousands) Asset retirement obligation - beginning of period $ 252,734 $ 274,686 Liabilities incurred with properties acquired — 226 Liabilities incurred with properties drilled 30 65 Liabilities settled during the period (2,560) (2,258) Liabilities associated with properties sold (243) (27,673) Current period accretion 9,706 12,568 Current period revisions to previous estimates — (4,880) Asset retirement obligation - end of period $ 259,667 $ 252,734

Stockholders' Deficit_Partner_2

Stockholders' Deficit/Partners' Deficit (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of computation of basic and diluted income (loss) per unit	The following table sets forth the computation of basic and diluted income per share / unit: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Net Loss (136,230) $ (47,852) $ (277,378) $ (34,179) Weighted average number of shares / units outstanding - basic 114,811 104,637 113,628 104,336 Effect of dilutive securities: Restricted shares — — — — Weighted average number of shares / units outstanding - diluted 114,811 104,637 113,628 104,336 Basic and Diluted loss per share / units $ (1.19) $ (0.46) $ (2.44) $ (0.33)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of RSU activity	The following table summarizes the status of RSU activity since January 1, 2019: Number of Restricted Stock Units Grant Date Fair Value Outstanding at January 1, 2019 7,302,809 $ 4.88 Granted 516,594 $ 1.32 Cancelled/Forfeited (172,212) $ 4.11 Outstanding at September 30, 2019 7,647,191 $ 4.66

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lease, cost	The components of our total lease cost were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2019 (In thousands) Operating lease cost $ 773 $ 2,409 Finance lease cost: Amortization of right-of-use assets 83 145 Interest on lease liabilities 66 118 Total finance lease costs $ 149 $ 263 Short-term lease cost $ 3,524 $ 10,409 Total $ 4,446 $ 13,081 Supplemental cash flow information related to our leases is included in the table below: Three Months Ended Nine Months Ended September 30, September 30, 2019 2019 (In thousands) Cash paid for amounts included in lease liabilities: Operating cash flows from operating leases $ 4,297 $ 12,818 Operating cash flows from finance leases 149 263 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 51 $ 4,573 Finance leases 281 1,286
Assets and liabilities, lessee	Supplemental balance sheet information related to our leases is included in the table below: Nine Months Ended September 30, 2019 (In thousands) Operating Leases Operating lease right-of-use assets $ 2,851 Other current liabilities (2,207) Other long-term liabilities (884) Total operating lease liabilities $ (3,091) Finance Leases Other property and equipment 1,286 Accumulated depreciation and amortization (191) Other property and equipment, net $ 1,095 Other current liabilities (421) Other long-term liabilities (720) Total finance lease liabilities $ (1,141) Our weighted average remaining lease term and weighted average discount rate by lease classification were as follows: Nine Months Ended September 30, 2019 Weighted Average Remaining Lease Term (Years) Operating leases 1.67 Finance leases 2.49 Weighted Average Discount Rate Operating leases 24.43 % Finance leases 24.43 %
Lessee, operating lease, liability, maturity	Our lease liabilities with enforceable contract terms that are greater than one year mature as follows: Operating Leases Finance Leases (in thousands) Year 1 $ 2,690 $ 655 Year 2 646 570 Year 3 253 277 Year 4 205 29 Year 5 43 — Thereafter — — Total lease payments $ 3,837 $ 1,531 Less imputed interest (746) (390) Total $ 3,091 $ 1,141
Finance lease, liability, maturity	Our lease liabilities with enforceable contract terms that are greater than one year mature as follows: Operating Leases Finance Leases (in thousands) Year 1 $ 2,690 $ 655 Year 2 646 570 Year 3 253 277 Year 4 205 29 Year 5 43 — Thereafter — — Total lease payments $ 3,837 $ 1,531 Less imputed interest (746) (390) Total $ 3,091 $ 1,141

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Accrued Oil and Natural Gas Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued capital expenditures	$ 21,897	$ 41,227
Accrued lease operating expense	19,849	22,750
Revenue payable to joint interest owners	18,836	24,690
Accrued ad valorem tax	9,557	5,255
Other	4,101	4,964
Accrued oil and natural gas liabilities	$ 74,240	$ 98,886

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Restricted cash	$ 4.2	$ 3.2	$ 4.2	$ 3.2	$ 3.3
Effective income tax rate	0.00%	0.26%	0.00%	4.30%
Minimum | Equipment
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	1 month		1 month
Minimum | Vehicles
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	18 months		18 months
Maximum | Equipment
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	3 months		3 months
Maximum | Vehicles
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	48 months		48 months
Revolving Credit Facility | Minimum
Lessee, Lease, Description [Line Items]
Debt instrument, term			2 years
Revolving Credit Facility | Maximum
Lessee, Lease, Description [Line Items]
Debt instrument, term			10 years

Chapter 11 Proceedings, Abili_3

Chapter 11 Proceedings, Ability to Continue as a Going Concern and Covenant Violations - Components of Liabilities Subject to Compromise - Narrative (Details)	Sep. 16, 2019USD ($)	Oct. 18, 2019USD ($)claim	Sep. 30, 2019USD ($)	Jun. 13, 2019USD ($)
Debt Instrument [Line Items]
Liabilities subject to compromise, contractual interest on liabilities			$ 23,300,000
6.625% Senior Notes due 2021 | Senior notes
Debt Instrument [Line Items]
Stated interest rate			6.625%
8% Senior Notes due 2020 | Senior notes
Debt Instrument [Line Items]
Stated interest rate			8.00%
8% Notes Due 2023 | Senior notes
Debt Instrument [Line Items]
Stated interest rate			8.00%
Revolving Credit Facility | Exit facility | Secured debt
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 500,000,000
Supporting creditors plan
Debt Instrument [Line Items]
Pro rata share percentage to be issued	51.40%
Pro rata share percentage due to holders of claims	2.50%
Plan of reorganization, equity securities issued or to be issued, value	$ 66,500,000
Share premium percentage of common stock	1.50%
Committed equity investment	$ 189,800,000
Sale of stock, number of shares issuable in transaction	$ 125,000,000
Subsequent Event
Debt Instrument [Line Items]
Bankruptcy claims, number of claims filed | claim		1,800
Bankruptcy claims, amount of claims filed		$ 7,200,000,000

Chapter 11 Proceedings, Abili_4

Chapter 11 Proceedings, Ability to Continue as a Going Concern and Covenant Violations - Components of Liabilities Subject to Compromise (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Reorganizations [Abstract]
Debt, net	$ 757,449	$ 0
Accrued interest payable	29,478
Accounts payable	3,169
Liabilities subject to compromise	$ 790,096	$ 0

Chapter 11 Proceedings, Abili_5

Chapter 11 Proceedings, Ability to Continue as a Going Concern and Covenant Violations - Components of Reorganization Items Included on the Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Reorganizations [Abstract]
Professional advisory fees	$ 21,201		$ 23,161
Reorganization, items net	$ 21,201	$ 0	$ 23,161	$ 0

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ 0	$ (17,332)
Total current debt, net	563,000	856,646
Long-term debt, gross	757,449	432,923
Unamortized debt issuance costs	(24,930)	(31,517)
Unamortized discount on Senior Notes	(3,374)	(3,827)
Less liabilities subject to compromise	(757,449)	0
Total long-term debt, net	0	432,923
Total debt, net	563,000	1,289,569
Second Lien Term Loan Due in 2020
Debt Instrument [Line Items]
Long-term debt, gross, current	0	338,626
Unamortized discount on Second Lien Term Loans	0	(5,648)
Long-term debt, gross	339,812		$ 0
Line of Credit | DIP Credit Agreement
Debt Instrument [Line Items]
Long-term debt, gross, current	$ 250,000	0
Senior notes | 8% Senior Notes due 2020
Debt Instrument [Line Items]
Stated interest rate	8.00%
Long-term debt, gross	$ 208,885	208,885
Senior notes | 6.625% Senior Notes due 2021
Debt Instrument [Line Items]
Stated interest rate	6.625%
Long-term debt, gross	$ 129,529	131,279
Senior notes | 8% Notes Due 2023
Debt Instrument [Line Items]
Stated interest rate	8.00%
Long-term debt, gross	$ 107,527	128,103
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross, current	313,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross, current	$ 313,000	$ 541,000

Debt - DIP Credit Agreement (De

Debt - DIP Credit Agreement (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Nov. 08, 2019	Dec. 31, 2018	Apr. 01, 2014
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving long-term debt	$ 313,000,000
Long-term debt, gross, current	$ 313,000,000
Interest rate at period end	9.25%
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 2,000,000
Remaining borrowing capacity	$ 0
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross, current	313,000,000		$ 541,000,000
Line of Credit | DIP Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	350,000,000
Long-term debt, gross, current	250,000,000		$ 0
Line of Credit | DIP Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000
Unused capacity, commitment fee percentage	1.00%
Line of Credit | DIP Credit Agreement | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,000,000
Line of Credit | DIP Credit Agreement | Alternate base rate | Revolving Credit Facility
Debt Instrument [Line Items]
Stated interest rate	4.25%
Line of Credit | DIP Credit Agreement | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Debt Instrument [Line Items]
Stated interest rate	5.25%
Refinancing Term Loan | DIP Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 250,000,000
Stated interest rate	3.50%
Subsequent Event | Line of Credit | DIP Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving long-term debt		$ 28,000,000
Unused borrowing capacity		72,000,000
Subsequent Event | Refinancing Term Loan | DIP Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross, current		$ 250,000,000
Interest rate at period end		10.50%
Remaining borrowing capacity		$ 0

Debt - Credit Facility (Details

Debt - Credit Facility (Details)	9 Months Ended
	Sep. 30, 2019USD ($)	May 22, 2019USD ($)	Sep. 20, 2018	Sep. 19, 2018	Apr. 01, 2014USD ($)
Revolving Credit Facility
Line of Credit Facility [Line Items]
Minimum percent of total property value securing credit agreement					95.00%
Borrowing base		$ 570,000,000			$ 575,000,000
Ratio of indebtedness to earnings before interest, taxes, depreciation and amortization required for distributions			3	4
Debt instrument, covenant, lender commitment, maximum			20.00%	15.00%
Ratio of indebtedness to earnings before interest, taxes, depreciation and amortization, maximum			2.50
Ratio of EBITDA to interest expense, minimum			2
Ratio of current assets to current liabilities, minimum			1
Net present value of proved oil and gas properties, discount rate			10.00%
Minimum required cash and cash equivalents to secured debt ratio			1
Long-term debt, gross, current	$ 313,000,000
Interest rate at period end	9.25%
Interest paid	$ 26,500,000
Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Ratio of indebtedness to earnings before interest, taxes, depreciation and amortization required for distributions			4.5
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity					$ 2,000,000
Remaining borrowing capacity	$ 0

Debt - Second Lien Term Loan Cr

Debt - Second Lien Term Loan Credit Agreement (Details)	Mar. 21, 2019	Jul. 01, 2020USD ($)	Sep. 30, 2019USD ($)	Jan. 01, 2019	Dec. 31, 2018USD ($)	Sep. 20, 2018	Sep. 19, 2018	Dec. 31, 2017USD ($)	Oct. 25, 2016USD ($)
Debt Instrument [Line Items]
Long-term debt, gross			$ 757,449,000		$ 432,923,000
Second Lien Term Loan
Debt Instrument [Line Items]
Debt instrument, covenant, lender commitment, maximum						20.00%	15.00%
Second Lien Term Loan | $300 Million Term Loan at 12%
Debt Instrument [Line Items]
Aggregate principal amount								$ 400,000,000	$ 300,000,000
Long-term debt, upfront fee									2.00%
Stated interest rate									12.00%
Long-term debt, gross			339,800,000
Unused borrowing capacity			$ 60,200,000
Minimum required cash and cash equivalents to secured debt ratio				1		0.85		0.85
Ratio of indebtedness to earnings before interest, taxes, depreciation and amortization required for distributions						3	4
Ratio of secured debt to EBITDA						4.50
Scenario, Forecast | Senior notes
Debt Instrument [Line Items]
Long-term debt, gross		$ 15,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Minimum required cash and cash equivalents to secured debt ratio						1
Ratio of indebtedness to earnings before interest, taxes, depreciation and amortization required for distributions						3	4
Debt instrument, covenant, lender commitment, maximum						20.00%	15.00%
Revolving Credit Facility | Twelfth Amendment Credit Agreement
Debt Instrument [Line Items]
Debt instrument, interest rate, increase (decrease)	2.25%

Debt - Senior Notes (Details)

Debt - Senior Notes (Details)	Sep. 20, 2018USD ($)shares	Dec. 31, 2017USD ($)	Jun. 01, 2016USD ($)shares	Dec. 04, 2012USD ($)	Sep. 30, 2018USD ($)shares	Sep. 30, 2019USD ($)$ / sharesshares	Sep. 30, 2018USD ($)shares	Sep. 30, 2019USD ($)d$ / sharesshares	Sep. 30, 2018USD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2016USD ($)	Feb. 10, 2015USD ($)	May 13, 2014USD ($)	Mar. 18, 2014USD ($)	May 28, 2013USD ($)
Debt Instrument [Line Items]
Gain on extinguishment of debt						$ 0	$ 12,107,000	$ 13,105,000	$ 63,800,000
Long-term debt, gross						$ 757,449,000		757,449,000		$ 432,923,000
Payments of long-term debt								$ 134,758,000	$ 496,384,000
Common stock, shares, outstanding (in shares) | shares						114,819,671		114,819,671		109,442,278
Threshold consecutive trading days | d								30
Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Conversion price (in dollars per share) | $ / shares						$ 64.22		$ 64.22
Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Conversion price (in dollars per share) | $ / shares						$ 24.22		$ 24.22
8% Senior Notes due 2020
Debt Instrument [Line Items]
Debt conversion, converted instrument, shares issued (in shares) | shares										1,000,000
8% Notes Due 2023
Debt Instrument [Line Items]
Common stock shares issued (in shares) | shares					105,020		105,020		105,020
Common stock, shares, outstanding (in shares) | shares	105,020
Senior notes | 8% Senior Notes due 2020
Debt Instrument [Line Items]
Stated interest rate						8.00%		8.00%
Aggregate principal amount				$ 300,000,000	$ 21,000,000		$ 21,000,000		$ 21,000,000	$ 3,100,000
Issuance percent of par				97.848%
Gain on extinguishment of debt					$ 1,400,000
Face amount repurchased											$ 52,000,000
Debt extinguished			$ 15,000,000
Interest payable						$ 8,400,000		$ 8,400,000
Long-term debt, gross						$ 208,885,000		$ 208,885,000		208,885,000
Senior notes | 8% Senior Notes due 2020 | Change in Control
Debt Instrument [Line Items]
Redemption price percentage								101.00%
Senior notes | 6.625% Senior Notes due 2021
Debt Instrument [Line Items]
Stated interest rate						6.625%		6.625%
Aggregate principal amount												$ 300,000,000	$ 300,000,000	$ 250,000,000	$ 250,000,000
Issuance percent of par													99.00%		98.405%
Face amount repurchased		$ 187,000,000									$ 117,300,000
Interest payable						$ 4,300,000		$ 4,300,000
Long-term debt, gross						$ 129,529,000		$ 129,529,000		131,279,000
Payments of long-term debt		$ 132,000,000
Senior notes | 6.625% Senior Notes due 2021 | Change in Control
Debt Instrument [Line Items]
Redemption price percentage								101.00%
Senior notes | 8% Notes Due 2023, Tranche 1
Debt Instrument [Line Items]
Aggregate principal amount	$ 21,000,000
Senior notes | 8% Notes Due 2023, Tranche 2
Debt Instrument [Line Items]
Aggregate principal amount	109,000,000
Senior notes | 8% Notes Due 2023
Debt Instrument [Line Items]
Stated interest rate						8.00%		8.00%
Redemption price percentage								100.00%
Interest payable						$ 4,300,000		$ 4,300,000
Long-term debt, gross						$ 107,527,000		$ 107,527,000		$ 128,103,000
Fair value of the liability component	101,000,000
Debt discount	29,000,000
Conversion ratio								166.6667
Conversion price (in dollars per share) | $ / shares						$ 6		$ 6
Threshold trading days | d								20
Senior notes | 8% Notes Due 2023 | Change in Control
Debt Instrument [Line Items]
Redemption price percentage								101.00%
Limited Partner | Partners' Deficit
Debt Instrument [Line Items]
Units issued in exchange for Standstill Agreement (in units) | shares			2,719,124
Senior notes | 8% Notes Due 2020, Tranche 1
Debt Instrument [Line Items]
Extinguishment of debt	21,000,000
Senior notes | 6.625% Percent Notes Due 2021, Tranche 2
Debt Instrument [Line Items]
Extinguishment of debt	$ 109,000,000
Legacy Reserves Finance Corporation
Debt Instrument [Line Items]
Ownership interest				100.00%				100.00%

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 97,503,000	$ 145,207,000	$ 333,779,000	$ 421,967,000
Contract with customer, performance obligation satisfied in previous period	0
Oil Sales
Disaggregation of Revenue [Line Items]
Revenue	72,902,000	98,779,000	239,038,000	291,989,000
Natural Gas Liquids Sales
Disaggregation of Revenue [Line Items]
Revenue	2,926,000	7,771,000	11,435,000	20,902,000
Natural Gas Sales
Disaggregation of Revenue [Line Items]
Revenue	$ 21,675,000	$ 38,657,000	$ 83,306,000	$ 109,076,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - Officer	9 Months Ended
	Sep. 30, 2019
Loss Contingencies [Line Items]
Employment agreements with officers, severance pay consideration period, minimum	12 months
Employment agreements with officers, severance pay consideration period, maximum	36 months

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net fair value instruments	$ 3,307		$ 3,307		$ 69,247
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net fair value instruments	0		0		0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net fair value instruments	3,307		3,307		69,247
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net fair value instruments	0		0		0
Reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3
Beginning balance	0	$ 31,616	0	$ (5,088)
Total gains	0	(3,720)	0	36,696
Settlements, net	0	(11,839)	0	(15,551)
Ending balance	0	16,057	0	16,057
Significant Unobservable Inputs (Level 3) | Derivative assets
Reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3
Gains (losses) included in earnings relating to derivatives still held as of March 31, 2019 and 2018	0	$ (5,630)	0	$ 17,680
Current Assets | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	4,955		4,955		69,288
Derivative asset, gross amounts offset	(1,412)		(1,412)		(4,670)
Derivative asset, total	3,543		3,543		64,618
Current Assets | Interest rate contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		2,044
Derivative asset, gross amounts offset	0		0		0
Derivative asset, total	0		0		2,044
Current Assets | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		0
Current Assets | Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		0
Current Assets | Significant Other Observable Inputs (Level 2) | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	4,955		4,955		69,288
Current Assets | Significant Other Observable Inputs (Level 2) | Interest rate contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		2,044
Current Assets | Significant Unobservable Inputs (Level 3) | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		0
Current Assets | Significant Unobservable Inputs (Level 3) | Interest rate contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		0
Noncurrent Assets | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		3,473
Derivative asset, gross amounts offset	0		0		(338)
Derivative asset, total	0		0		3,135
Noncurrent Assets | Interest rate contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		0
Derivative asset, gross amounts offset	0		0		0
Derivative asset, total	0		0		0
Noncurrent Assets | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		0
Noncurrent Assets | Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		0
Noncurrent Assets | Significant Other Observable Inputs (Level 2) | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		3,473
Noncurrent Assets | Significant Other Observable Inputs (Level 2) | Interest rate contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		0
Noncurrent Assets | Significant Unobservable Inputs (Level 3) | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		0
Noncurrent Assets | Significant Unobservable Inputs (Level 3) | Interest rate contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, gross	0		0		0
Current Liabilities | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	(1,648)		(1,648)		(4,670)
Derivative liability, gross amounts offset	1,412		1,412		4,670
Derivative liability	(236)		(236)		0
Current Liabilities | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	0		0		0
Current Liabilities | Significant Other Observable Inputs (Level 2) | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	(1,648)		(1,648)		(4,670)
Current Liabilities | Significant Unobservable Inputs (Level 3) | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	0		0		0
Noncurrent Liabilities | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	0		0		(888)
Derivative liability, gross amounts offset	0		0		338
Derivative liability	0		0		(550)
Noncurrent Liabilities | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	0		0		0
Noncurrent Liabilities | Significant Other Observable Inputs (Level 2) | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	0		0		(888)
Noncurrent Liabilities | Significant Unobservable Inputs (Level 3) | Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	$ 0		$ 0		$ 0

Fair Value Measurements - Nonre

Fair Value Measurements - Nonrecurring (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of oil and gas properties	$ 105.5
Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Revolving long-term debt	313
8% Senior Notes due 2020 | Senior notes | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of notes payable	9.4
6.625% Senior Notes due 2021 | Senior notes | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of notes payable	3.7
8% Notes Due 2023 | Senior notes | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of notes payable	3.8
Oil and Gas Properties | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, gross	180.9
Oil and Gas Properties | Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant, and equipment, fair value disclosure	$ 75.4

Derivative Financial Instrume_3

Derivative Financial Instruments - Commodity Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Realized and Unrealized Gains (Losses) Related to Derivatives [Roll Forward]
Total gain (loss) on derivatives			$ (43,147)	$ (41,203)
Not designated as hedging instrument | Commodity contract
Realized and Unrealized Gains (Losses) Related to Derivatives [Roll Forward]
Beginning fair value of derivatives	$ 0	$ 508	67,205	6,318
Ending fair value of derivatives	3,307	(31,576)	3,307	(31,576)
Not designated as hedging instrument | Commodity contract | Crude Oil
Realized and Unrealized Gains (Losses) Related to Derivatives [Roll Forward]
Total gain (loss) on derivatives	3,062	(31,325)	(38,537)	(39,149)
Derivative cash settlements received	(712)		(8,657)
Derivative cash settlements paid		1,702		12,905
Not designated as hedging instrument | Commodity contract | Natural gas
Realized and Unrealized Gains (Losses) Related to Derivatives [Roll Forward]
Total gain (loss) on derivatives	1,581	458	(2,566)	(2,737)
Derivative cash settlements received	$ (624)	$ (2,919)	$ (14,138)	$ (8,913)

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Derivatives, Notional Amounts Outstanding (Details) bbl in Thousands, MMBTU in Thousands	Sep. 30, 2019MMBTUbbl$ / MMBTU$ / bbl
NYMEX WTI Swaps | Crude Oil
Derivative [Line Items]
Volumes | bbl	1,104
Average price per Bbl/MMBtu (dollars per bbl/MMBTu | $ / bbl	57.01
Midland-to-Cushing Differential Swaps | Crude Oil
Derivative [Line Items]
Volumes | bbl	920
Average price per Bbl/MMBtu (dollars per bbl/MMBTu | $ / bbl	0.33
NYMEX Henry Hub Natural Gas Swaps | Natural gas
Derivative [Line Items]
Volumes | MMBTU	11,040
Average price per Bbl/MMBtu (dollars per bbl/MMBTu	2.47
CIG Natural Gas Swaps | Natural gas
Derivative [Line Items]
Volumes | MMBTU	3,680
Average price per Bbl/MMBtu (dollars per bbl/MMBTu	0.47
WAHA Natural Gas Swaps | Natural gas
Derivative [Line Items]
Volumes | MMBTU	2,576
Average price per Bbl/MMBtu (dollars per bbl/MMBTu	0.85
Price range (dollars per bbl/MMBTu)	0.85
Minimum | NYMEX WTI Swaps | Crude Oil
Derivative [Line Items]
Price range (dollars per bbl/MMBTu) | $ / bbl	56.25
Minimum | Midland-to-Cushing Differential Swaps | Crude Oil
Derivative [Line Items]
Price range (dollars per bbl/MMBTu) | $ / bbl	0.35
Minimum | NYMEX Henry Hub Natural Gas Swaps | Natural gas
Derivative [Line Items]
Price range (dollars per bbl/MMBTu)	2.421
Minimum | CIG Natural Gas Swaps | Natural gas
Derivative [Line Items]
Price range (dollars per bbl/MMBTu)	0.475
Maximum | NYMEX WTI Swaps | Crude Oil
Derivative [Line Items]
Price range (dollars per bbl/MMBTu) | $ / bbl	58.19
Maximum | Midland-to-Cushing Differential Swaps | Crude Oil
Derivative [Line Items]
Price range (dollars per bbl/MMBTu) | $ / bbl	0.30
Maximum | NYMEX Henry Hub Natural Gas Swaps | Natural gas
Derivative [Line Items]
Price range (dollars per bbl/MMBTu)	2.508
Maximum | CIG Natural Gas Swaps | Natural gas
Derivative [Line Items]
Price range (dollars per bbl/MMBTu)	0.473

Derivative Financial Instrume_5

Derivative Financial Instruments - Schedule of Derivatives, Gain (Loss) on Derivative Activity (Details) - Interest rate swaps - Not designated as hedging instrument - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Realized and Unrealized Gains (Losses) Related to Derivatives [Roll Forward]
Beginning fair value of derivatives	$ 0	$ 3,084	$ 2,044	$ 2,117
Cash settlements received	0	(428)	(1,925)	(776)
Ending fair value of derivatives	0	2,800	0	2,800
Interest expense
Realized and Unrealized Gains (Losses) Related to Derivatives [Roll Forward]
Total gain on interest rate swaps	$ 0	$ 144	$ (119)	$ 1,459

Asset Retirement Obligation (De

Asset Retirement Obligation (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Changes in the ARO
Asset retirement obligation - beginning of period	$ 252,734	$ 274,686
Liabilities incurred with properties acquired	0	226
Liabilities incurred with properties drilled	30	65
Liabilities settled during the period	(2,560)	(2,258)
Liabilities associated with properties sold	(243)	(27,673)
Current period accretion	9,706	12,568
Current period revisions to previous estimates	0	(4,880)
Asset retirement obligation - end of period	$ 259,667	$ 252,734

Stockholders' Deficit_Partner_3

Stockholders' Deficit/Partners' Deficit - Income (loss) per unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Equity [Abstract]
Net Loss	$ (136,230)	$ (62,770)	$ (78,378)	$ (47,852)	$ 0	$ 0	$ (277,378)	$ (34,179)
Weighted average number of units outstanding (in shares)	114,811,000			104,637,000			113,628,000	104,336,000
Effect of dilutive securities:
Restricted and phantom units (in shares)	0			0			0	0
Weighted average numbers of shares outstanding - diluted (in shares)	114,811,000			104,637,000			113,628,000	104,336,000
Loss per share - basic & diluted (in dollars per share)	$ (1.19)			$ (0.46)			$ (2.44)	$ (0.33)
Restricted stock units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive restricted units excluded from computation of EPS (in shares)				4,687,324			7,647,191	4,687,324
Convertible Debt Securities
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive restricted units excluded from computation of EPS (in shares)							17,921,170

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions	Oct. 16, 2018director$ / sharesshares	Sep. 25, 2018director$ / sharesshares	Sep. 20, 2018shares	May 15, 2018director$ / sharesshares	Sep. 30, 2019USD ($)shares	Sep. 30, 2018USD ($)shares	Dec. 31, 2018shares	Sep. 19, 2018shares	Mar. 15, 2006shares
Long term incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units authorized for issuance (in shares)									5,000,000
Cumulative number of instruments granted (in shares)						3,459,197
Omnibus Incentive Plan, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units authorized for issuance (in shares)								10,500,000
Percentage increase in plan for shares issued								0.10
Grants in period, net of forfeitures (in shares)					7,679,761
Grants of award net forfeitures (in shares)					32,570
Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Individuals eligible for plan | director	1	4
Grants of award net forfeitures (in shares)	12,450	5,030
Employee Stock Option | Long term incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative number of instruments granted (in shares)						266,014
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $					$ 12.4
Non-option equity instruments, outstanding (in shares)					7,647,191		7,302,809
Award vesting period					3 years
Unrecognized compensation costs | $					$ 19
Unrecognized compensation costs, period of recognition					2 years 5 months 23 days
Restricted stock units (RSUs) | Long term incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative number of instruments granted (in shares)						988,207
Restricted stock units (RSUs) | Omnibus Incentive Plan, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-option equity instruments, outstanding (in shares)					7,647,191
Restricted stock units (RSUs) | Executive officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued to executive employees (in shares)					516,594
Phantom share units (PSUs) | Long term incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative number of instruments granted (in shares)						1,424,114
Share-based compensation expense | $						$ 30.7
Partnership unit conversion ratio					1
Phantom units settled in cash (in shares)			391,674
Phantom units that settle in units vested (in shares)			1,032,440
Unrestricted units | Long term incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative number of instruments granted (in shares)						780,862
Unrestricted units | Director 2 | Long term incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				12,450
Individuals eligible for plan | director				4
Unrestricted units | Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of each unit at issuance (in dollars per share) | $ / shares	$ 5.02	$ 4.97
Unrestricted units | Non-employee directors | Long term incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				6,010
Individuals eligible for plan | director				2
Value of each unit at issuance (in dollars per share) | $ / shares				$ 8.69
Stock Appreciation Rights (SARs) | Long term incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $						$ (0.2)
Restricted Stock | Long term incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $						$ 0.8

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Activity (Details) - Restricted stock units (RSUs)	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Number of Restricted Stock Units
Outstanding, beginning balance (in shares) | shares	7,302,809
Granted (in shares) | shares	516,594
Cancelled/forfeited (in shares) | shares	(172,212)
Outstanding, ending balance (in shares) | shares	7,647,191
Grant Date Fair Value
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 4.88
Granted (in dollars per share) | $ / shares	1.32
Cancelled/forfeited (in dollars per share) | $ / shares	4.11
Outstanding, ending balance (in dollars per share) | $ / shares	$ 4.66

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income (loss) before income taxes	$ (136,229)	$ (45,353)	$ (277,377)	$ (31,063)
Effective income tax rate reconciliation, federal and state income taxes, percent			0.00%	10.03%

Leases - Components of Total Le

Leases - Components of Total Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 773	$ 2,409
Finance lease cost:
Amortization of right-of-use assets	83	145
Interest on lease liabilities	66	118
Total finance lease costs	149	263
Short-term lease cost	3,524	10,409
Total	$ 4,446	$ 13,081

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flows Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Cash paid for amounts included in lease liabilities:
Operating cash flows from operating leases	$ 4,297	$ 12,818
Operating cash flows from finance leases	149	263
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	51	4,573
Finance leases	$ 281	$ 1,286

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) $ in Thousands	Sep. 30, 2019USD ($)
Operating Leases
Operating lease right-of-use assets	$ 2,851
Other current liabilities	(2,207)
Other long-term liabilities	(884)
Total operating lease liabilities	(3,091)
Finance Leases
Other property and equipment	1,286
Accumulated depreciation and amortization	(191)
Other property and equipment, net	1,095
Other current liabilities	(421)
Other long-term liabilities	(720)
Total finance lease liabilities	$ (1,141)

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Term and Weighted Average Discount Rate (Details)	Sep. 30, 2019
Weighted Average Remaining Lease Term (Years)
Operating leases	1 year 8 months 1 day
Finance leases	2 years 5 months 26 days
Weighted Average Discount Rate
Operating leases	24.43%
Finance leases	24.43%

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2019USD ($)
Operating Leases
Year 1	$ 2,690
Year 2	646
Year 3	253
Year 4	205
Year 5	43
Thereafter	0
Total lease payments	3,837
Less imputed interest	(746)
Total	3,091
Finance Leases
Year 1	655
Year 2	570
Year 3	277
Year 4	29
Year 5	0
Thereafter	0
Total lease payments	1,531
Less imputed interest	(390)
Total	$ 1,141

Guarantors (Details)

Guarantors (Details) - Senior notes	11 Months Ended
	May 08, 2014offering	Sep. 30, 2019	Feb. 10, 2015USD ($)	May 13, 2014USD ($)	Mar. 18, 2014USD ($)	May 28, 2013USD ($)
Debt Instrument [Line Items]
Number of private offerings | offering	2
Percent of subsidiaries owned		100.00%
6.625% Senior Notes due 2021
Debt Instrument [Line Items]
Aggregate principal amount | $			$ 300,000,000	$ 300,000,000	$ 250,000,000	$ 250,000,000

Uncategorized Items - lgcy-2019

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 255,000
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 255,000