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May 1, 2014
06:48 EDTLINELINN Energy reports average daily proudction up 39% to 1,104 MMcfe/d
Reports Q1 oil, natural gas and NGL sales up 103% to $939M. The company said better than expected results from the capital program and efficient management of LINN's base assets resulted in increased production across a number of operating areas for the first quarter, most significantly in California and the Uinta Basin. First quarter transportation expenses were slightly higher than expected primarily due to higher gathering costs in the Hugoton Field and increased compressor fuel and production costs associated with higher natural gas prices. Additionally, first quarter oil differentials were wider than anticipated primarily in the Permian and Williston basins.
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July 6, 2015
07:15 EDTLINELINN Energy finalizes strategic alliance with Quantum Energy Partners
LINN Energy (LINE) and LinnCo (LNCO) announced that LINN has signed definitive agreements with private capital investor Quantum Energy Partners to fund selected future oil and natural gas acquisitions and the development of acquired assets. 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 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 the assets.
06:47 EDTLINELINN Energy sells remaining Permian Basin Wolfcamp acreage for $281M
LINN Energy (LINE) and LinnCo (LNCO) announced that LINN has signed a definitive agreement to sell its remaining position in Howard County in the Permian Basin for a contract price of $281 million. The transaction is expected to close in the third quarter 2015 with an effective date of May 1, 2015. The properties sold include approximately 6,400 net acres prospective for horizontal Wolfcamp drilling and approximately 2.0 MBoe/d of current production from 133 gross wells. The transaction is subject to satisfactory completion of title and environmental due diligence, as well as the satisfaction of closing conditions.
June 23, 2015
07:24 EDTLINECredit Suisse to hold a conference
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