Jan 2 (Reuters) - Linn Energy LLC cut its 2015 capital budget by 53 percent to $730 million, joining other oil and gas producers in reducing expenditure in response to falling oil prices.
Linn also said it had reduced its distribution per unit and the dividend per share for subsidiary LinnCo to $1.25 each from $2.90 on an annualized basis.
Linn said it expected to fund its total 2015 oil and natural gas capital program, along with the distribution, from internally generated cash flow.
(Reporting By Tanvi Mehta in Bengaluru; Editing by Ted Kerr)
Copyright 2017 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you