Legacy Reserves files for bankruptcy

My wife and I received notice in the mail that an operator on one of the properties in which we hold NPMI ha filed under Chapter 11 for bankruptcy. That’s Legacy Reserves, Inc.

We don’t really understand why we are receiving this notice. We’ve been receiving very little from the wells on the leases that we have interest in; less that $200 a year for the last couple of years. So, we doubt that they owe us anything, or much of anything, that they won’t be paying. But other than this angle, and the fact that there will probably eventually be someone else leasing the property, is there anything that we should be concerned about, or anything we need to do, or be aware of?

Thanks to anyone who can help us understand how the bankruptcy impacts NPMI holders.

Just sit back and wait for the bankruptcy court to finish its work. Royalty owners do not have to do anything-so says my attorney. Royalty owners have a preferred status.

Thank you, Ms. Barnes.