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Stock Market & Financial Investment News

News Breaks
March 24, 2014
08:00 EDTLNCOLinnCo downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded LinnCo to Neutral citing the company's significantly lower than expected guidance. The firm lowered its price target for shares to $30 from $36.
News For LNCO From The Last 14 Days
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July 6, 2015
07:15 EDTLNCOLINN 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 EDTLNCOLINN 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 EDTLNCOCredit Suisse to hold a conference
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