private partnership industry independent oil & gas founded 2001 headquarters katy tx key people james a. winne iii founder michael becci founder revenue 300 mm total assets us 2 billion 2011 number of employees 50 100 slogan n a website http www.lng2.com legend natural gas is an independent oil and gas company headquartered in the houston area . legend production holdings llc is focused on acquiring and developing long lived oil and natural gas properties primarily in prolific basins around texas including areas of south texas the fort worth basin barnett shale and the permian basin . legend natural gas headquarters katy tx legend production holdings llc predecessor legend natural gas lp was formed in 2001 by james a. winne iii and michael becci serving as president and ceo and vice president and cfo respectively . it was the first portfolio company funded by riverstone carlyle global energy and power funds in the exploration and production sector . the partnership acquired and developed producing properties in south texas until the sale of its assets to chesapeake energy in 2004 . legend natural gas ii lp was then formed in 2004 followed by the formation of legend natural gas iii lp in 2006 and legend natural gas iv lp in 2009 . these legend partnerships continue today as legend production under the same experienced management team led by james a. winne iii and michael becci . the relationship between legend and riverstone is the longest of any riverstone portfolio company . riverstone has invested approximately 1 billion in upstream assets through the various legend partnerships . 1 2 background edit legend was formed using a series of limited partnerships sponsored by two private equity firms riverstone holdings llc and the carlyle group . currently legend consists of three partnerships with approximately 450 million of equity invested and 110 million of outstanding bank debt . legend s combined proved reserves at december 31 2010 are approximately 250 bcfe 60 % gas and 40 % oil and the current net production is approximately 65 000 mcfe per day . legend s operating cash flow is approximately 10 million per month . the legend management team has been operating in south texas for over 20 years and since 2000 has been involved with approximately 2.0 billion of oil and gas property acquisitions and divestures . legend natural gas iii lp lng iii and legend natural gas iv lp lng iv are the proposed acquirers of the oil and gas assets in santa fe field brooks county texas . currently lng iii has 281 million in producing oil and gas assets producing 65 mmcfe per day . lng iv has 25.0 million of oil and gas leasehold interests and a 400 million commitment from its private equity fund sponsors . lng iii would acquire 1 3 of smith production s interest in the santa fe field and lng iv would acquire the remaining 2 3 interest . lng iii would be the designated operator . acquisition from range resources edit the barnett assets acquired from range include 390 producing wells and approximately 52 000 net acres 80 % of which are located in the prolific core area of the barnett shale . daily net production from the properties was 113 mmcfe per day 86 % gas as of february 1 2011 the effective date of the purchase . the acquisition marks legend s entry into the horizontal barnett shale resource play making it the fifth largest producer in the play . legend is the operator of the newly acquired properties . 3 4 references edit legend natural gas iv lp closes on 900 million barnett shale acquisition houston may 2 2011 prnewswire . prnewswire.com . retrieved on october 14 2011 . james a. winne profile forbes.com . people.forbes.com may 20 2008 . retrieved on october 14 2011 . legend adds barnett assets . rigzone . retrieved on october 14 2011 . news headlines . cnbc.com . retrieved on october 14 2011 . retrieved from https en.wikipedia.org w index.php title legend natural gas & oldid 698933507 categories oil companies of the united statesnatural gas companies of the united statescompanies based in texasenergy in texasenergy companies established in 2001non renewable resource companies established in 2001hidden categories use mdy dates from october 2011articles created via the article wizard navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 9 january 2016 at 04 34 . text is available under the creative commons attribution sharealike license ; 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