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February 27, 2014
07:16 EDTLINELINN Energy reports Q4 EPS with non-cash impairment charges ($3.15)
Reports increased average daily production 11% to 889 MMcfe/d for Q4. The company expects production for Q1 to average between 1,070 and 1,100 MMcfe/d and production for 2014 to average between 1,070 and 1,140 MMcfe/d, which includes the potential impact of ethane rejection for the year of approximately 22 MMcfe/d. LINN reported a net loss of approximately $785M, or $3.15 per unit, for Q4, which includes non-cash impairment charges of $790M, or $3.16 per unit, and non-cash changes in fair value of unsettled commodity derivatives of approximately $44M, or 18c per unit, including the reduction of put option premium value over time.
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