LINN Prices Public Offering of 15MM Units

LINN Energy announced the pricing of its public offering of 15,000,000 units of its limited liability company interests at a price of $25.00 per unit. The underwriters have an option to purchase up to an additional 2,250,000 units from the Company at the public offering price less the underwriting discount. The offering is expected to settle and close on March 29, 2010, subject to customary closing conditions.

The Company expects to receive net proceeds of approximately $360 million (or approximately $414 million if the underwriters exercise their option to purchase an additional 2,250,000 units) from the offering and intends to use a portion of the proceeds to fund the recently announced acquisition of natural gas properties in the Antrim Shale of Michigan from HighMount Exploration & Production LLC. The remainder of the proceeds will be used to reduce debt under the Company's revolving credit facility.


Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours