LINN Energy hedging concerns overblown, says Wells Fargo Wells Fargo believes commentary made by an anonymous short seller as mentioned in LINN Energy's late Friday regulatory filing and the Barron's article this weekend on the company overstate the impact of LINN Energy's hedging strategy. Wells says recent concerns over LINN are overblown and maintains an Outperform rating on the stock.
LINN Energy signs $1B letter of intent with Quantum Energy Partners LINN Energy (LINE) and LinnCo (LNCO) announced that LINN has signed a non-binding letter of intent with private capital investor Quantum Energy Partners to fund selected future oil and natural gas acquisitions and development on those acquired assets. Subject to final documentation, Quantum has agreed to initially commit up to $1B of equity capital to fund acquisitions and development of oil and natural gas assets. LINN will have the ability to participate in all acquisition opportunities with a direct working interest ranging from 15% to 50%. AcqCo assets will be managed by LINN in exchange for a reimbursement of general and administrative expenses. Additionally, after certain investor return hurdles are met, LINN will have the ability to earn a promoted interest in AcqCo. Upon the sale of any assets within AcqCo, LINN will be given right of first offer to acquire those assets.