Linn Energy, LLC Company News
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Shale Loses 9 Billion Barrels of Reserves After SEC Inquiries
Wednesday, June 15, 2016 Ultra Petroleum Corp. was a shale success story. Then came the bust.
Linn Energy, Breitburn Could Be Tip of Iceberg for MLP Bankruptcies
Monday, May 16, 2016 Upstream MLP Breitburn Energy Partners files for bankruptcy protection and analysts believe there could be more to follow.
Oil At $45 A Barrel Proving No Savior As Bankruptcies Add Up
Friday, May 13, 2016 Three bankruptcies this week shows that $45 a barrel oil isn't enough to rescue energy companies on the verge of collapse.
Houston Court Cuts into Delaware's Bankruptcy Business
Wednesday, May 11, 2016 When energy prices began to plummet nearly two years ago, oil companies with billions of dollars in debt followed a well-worn path to the busiest US Bankruptcy Court for large Chapter 11 cases, in Wilmington, Delaware.
Linn Energy Skips Interest Payments On New Set of Notes
Friday, April 15, 2016 Oil and gas producer Linn Energy says it plans to skip interest payments on some of its senior notes due April 15.
Linn Energy Exploring Debt Options To Weather Oil Collapse
Friday, November 13, 2015 Indebted Linn Energy LLC is exploring distressed restructuring options with Barclays as stubbornly low oil and natural gas prices test its ability to service $10 billion of debt after next year, according to sources with knowledge of the matter.
Linn Energy Names New CFO
Tuesday, August 25, 2015 Linn Energy names a new chief financial officer to replace Kolja Rockov, who stepped down to pursue other opportunities.
LINN Energy Drops Distributions, Investors Follow
Thursday, July 30, 2015 Linn Energy cuts its regular distributions to investors, likely drawing the attention of other upstream master limited partnerships.
LINN Exits Permian with $281M Deal, Completes Strategic Funding Initiatives
Monday, July 06, 2015 LINN Energy exits the Permian Basin and seals deals with private capital to fund acquisitions and development.
Diamond Offshore Sees Weak Demand, Scraps Special Dividend
Monday, February 09, 2015 Rig contractor Diamond Offshore Drilling expects a significant number of ultra-deepwater rigs to be idled across the industry by year-end as oil producers' capital budget is likely to be lowered by a fifth this year.
Linn Energy Cuts 2015 Capital Budget by 53 Percent
Friday, January 02, 2015 Linn Energy is cutting its 2015 capital budget by 53 percent to $730 million, joining other oil and gas producers in reducing expenditures in response to falling oil prices.
ExxonMobil Extends Permian Position
Thursday, September 18, 2014 ExxonMobil enters a non-monetary exchange agreement with LINN Energy to add 17,800 net acres in the Permian Basin.
Sources: Linn Energy Taps Banks For $2B Oil Asset Sale
Friday, August 15, 2014 Linn Energy hires banks to sell its oil production assets in the Texas Panhandle and western Oklahoma in an auction that could raise as much as $2 billion, according to people familiar with the matter.
Devon To Sell Oil And Gas Assets To Linn Energy For $2.3B
Monday, June 30, 2014 Devon Energy says it will sell all of its non-core US oil and gas properties to Linn Energy for $2.3 billion.
ExxonMobil Extends Permian Footprint in LINN Deal
Wednesday, May 21, 2014 ExxonMobil executes an agreement to add nearly 26,000 acres to its US oil and natural gas portfolio managed by subsidiary XTO Energy, through a non-monetary exchange with LINN Energy.
Linn Energy Says SEC Inquiry into Accounting Measures Ongoing
Tuesday, November 05, 2013 Linn Energy said an informal inquiry by the Securities and Exchange Commission into its use of non-GAAP accounting measures was ongoing.
Linn Energy to Pay $600M More for Berry Petroleum
Monday, November 04, 2013 Linn Energy raises its purchase price for Berry Petroleum Co by $600 million to $4.9 billion.
Linn to Increase Play in Permian Basin
Thursday, September 12, 2013 Linn Energy spends $525 million on a Permian Basin acquisition.
Linn Energy, LinnCo to Buy Berry Petroleum for $2.5B
Thursday, February 21, 2013 Linn Energy, along with its former unit LinnCo, agrees to buy Berry Petroleum for about $2.5B in stock as it aims to expand its geographic presence and bolster production.
BP Sells North Sea Assets to Mitsui
Tuesday, June 26, 2012 BP's sale is further evidence of BP's active asset management strategy after sale of Wyoming properties to LINN Energy on Monday.
LINN Energy to Acquire BP's Jonah field properties for $1B
Monday, June 25, 2012 LINN Energy will acquire BP's Jonah field properties in the Green River Basin of southwest Wyoming for $1.025B.
LINN Energy Expands Board
Tuesday, May 22, 2012 LINN Energy, LLC has expanded its board from six to seven directors.
LINN Energy, Anadarko Team Up in Salt Creek JV
Tuesday, April 03, 2012 LINN Energy announced a JV agreement with an affiliate of Anadarko, whereby LINN will participate as a partner in the CO2 enhanced oil recovery development of the Salt Creek field.
LINN Energy Inks Agreement for East Texas Properties
Friday, March 09, 2012 LINN Energy has signed a definitive purchase agreement to acquire properties located in East Texas.
LINN Energy to Buy BP Kansas Properties for $1.2B
Monday, February 27, 2012 LINN Energy signed a definitive purchase agreement to acquire Hugoton Basin properties located in Kansas from BP for a contract price of $1.2B, subject to closing conditions.
LINN to Acquire Granite Wash Properties for $600MM
Monday, November 07, 2011 Linn has signed a definitive purchase agreement to acquire properties located primarily in the Granite Wash from PXP for a contract price of $600MM.
LINN Acquires Oil Properties for $434MM
Monday, February 28, 2011 LINN has signed three definitive purchase agreements to acquire oil properties for a total combined contract price of $434MM.
LINN Posts Cash Tender Offers
Monday, February 28, 2011 LINN Energy has commenced cash tender offers and related consent solicitations to purchase any and all of its outstanding 11.75 percent senior notes due 2017 and 9.875 percent senior notes due 2018.
LINN to Redeem Senior Notes
Friday, February 11, 2011 LINN announced that on March 10, 2011, the Company will redeem 35 percent of its senior notes.
LINN Posts Private Offering of Senior Notes
Wednesday, September 08, 2010 LINN and its subsidiary, Linn Energy Finance Corp., announced plans to commence a private offering to eligible purchasers of its unsecured notes.
LINN to Add Permian Properties for $352.2MM
Tuesday, September 07, 2010 LINN has signed three definitive purchase agreements to acquire oil and natural gas properties located in the Wolfberry trend of the Permian Basin for a combined price of $352.2 million.
LINN Posts Cash Distribution
Tuesday, July 27, 2010 LINN announced a cash distribution for the second fiscal quarter of 2010 of $0.63 per unit.
LINN Flows Rate of 60.2 MMcfe Per Day at Granite Wash Well
Thursday, July 22, 2010 LINN announced results from its second operated horizontal Granite Wash well in the Stiles Ranch area of the Texas Panhandle.
LINN to Acquire O&G Properties in East Tx. Oil Field
Monday, July 19, 2010 LINN signed a definitive purchase agreement to acquire oil and natural gas properties located in the East Texas Oil Field for a contract price of $95 million, subject to closing conditions.
LINN to Expand Presence in Permian Basin
Thursday, July 01, 2010 LINN signed a definitive purchase agreement to acquire oil and natural gas properties located in the Permian Basin for a contract price of $90 million.
LINN Posts First Operated HZ Well Results
Wednesday, June 02, 2010 LINN announced results from its first operated horizontal Granite Wash well in the Texas Panhandle.
LINN Energy Delivers Strong Financial, Operational Results in 1Q
Thursday, April 29, 2010 "We had an outstanding start to the year and again delivered strong operational and financial results that exceeded our performance targets," said Mark Ellis.
LINN Energy Prices $1.3B of Senior Notes
Wednesday, March 31, 2010 INN Energy has announced a private offering to eligible purchasers of $1.3 billion in aggregate principal amount of 8.625% senior unsecured notes due 2020.
LINN Expands Presence in Permian Basin for $305MM
Monday, March 29, 2010 LINN Energy signed a definitive purchase agreement to acquire oil and natural gas properties located in the Permian Basin for $305 million.
LINN Prices Public Offering of 15MM Units
Wednesday, March 24, 2010 LINN Energy announced the pricing of its public offering of 15,000,000 units of its limited liability company interests.
LINN Acquires Atrim Shale Properties for $330MM
Tuesday, March 23, 2010 LINN Energy signed a definitive purchase agreement to acquire natural gas properties in the Antrim Shale of northern Michigan for a contract price of $330 million.
LINN Energy Amends $1.5B Credit Facility
Tuesday, March 23, 2010 LINN Energy reported extending a public offering of units and receiving commitments to amend its revolving credit facility.
LINN Energy Offers $500MM of Senior Notes
Tuesday, March 23, 2010 LINN Energy announced plans to commence a private offering to eligible purchasers of $500 million in aggregate principal amount of its senior unsecured notes due 2020.
LINN Snaps Up Permian, Anadarko Basin Properties for $154.5MM
Tuesday, December 01, 2009 LINN Energy signed a definitive purchase agreement to acquire certain oil and natural gas properties in the Permian and Anadarko Basins for a contract price of $154.5 million.
LINN Energy Snaps Up Properties in Permian Basin
Thursday, August 06, 2009 LINN Energy signed two definitive purchase agreements to acquire certain oil and natural gas properties in the Permian Basin located in West Texas and New Mexico for a combined contract price of $118 million.
LINN Energy Closes $1.75B Credit Facility
Tuesday, April 28, 2009 LINN Energy has entered into a new $1.75 billion secured revolving credit facility with a $1.75 billion initial borrowing base.
Some E&P Companies Come Out on Top with Successful Hedging
Tuesday, February 10, 2009 Despite declining oil and gas prices, which have caused the petroleum industry to tighten its wallet, some small- and mid-sized E&P companies have hedged themselves into financial stability, according to a report from financial media outlet Forbes.
XTO Acquires Marcellus Shale For $600 Million
Tuesday, April 15, 2008 XTO Energy Inc. has entered into a definitive agreement to acquire producing properties, leasehold acreage and infrastructure from Linn Energy, LLC for $600 million.
Linn to Acquire Oil and Gas Properties from Lamamco for $552 Million
Friday, December 21, 2007 "This transaction enhances value through significantly increased oil exposure, which we believe creates very attractive margins in the current commodity price environment," said Michael C. Linn, Chairman and Chief Executive Officer of Linn Energy.
Linn Energy to Purchase Texas Panhandle Properties for $22.5 Million
Friday, August 03, 2007 Linn Energy enters into a definitive purchase agreement to acquire certain oil and gas properties in the Texas Panhandle for $22.5 million.