By Bevo Beaven, Editor, Oil & Gas 360 Merge, SCOOP and STACK producer Roan Resources, Inc. (stock ticker: ROAN) said it expects 2Q production to exceed 50 MBOEPD, which compares to adjusted guidance of approximately 49 MBoe/d, when accounting for ethane rejection. The company elected to reject ethane in the month of June, which impacts monthly volumes by approximately 3.3
LINN Energy and Roan Holdings Announce Definitive Agreement to Combine 100% of Their Interests in Roan LLC Into a New Publicly Traded Pure Play Company, Roan Resources, Inc.
LINN Energy, Inc. (OTCQB: LNGG) completed the spin-off of Riviera Resources, Inc., leaving Riviera as now an independent reporting company trading on the OTC Market under the ticker symbol “RVRA.” LINN stockholders who held LINN common stock on August 3, 2018 received a distribution of one share of Riviera common stock for each share of LINN common stock held on the record date. As
LINN Energy, Inc. (OTCQB:LNGG) announced that its Board of Directors has unanimously approved the previously announced spin-off of Riviera Resources, Inc. from LINN. Following the Spin-Off and the transactions contemplated thereby, for each share of LINN common stock held on the record date, LINN stockholders will own one share each of: LINN (OTC:LNGG), which will own a 50% equity interest
LINN Energy, Inc. (ticker: LNGG) has updated its plan to spinoff into three companies, and has provided more detail as to who will lead the branched-off companies. Riviera Resources formed, OTC ticker RVRA LINN Energy’s board has formed Riviera Resources, LLC. Riviera will hold the upstream assets in Hugoton, Michigan/Illinois, Arkoma, East Texas, North Louisiana, and Drunkards Wash, as well
Silverpeak, a New York-based multi-strategy investment platform, announced it was the buyer in a $132 million acquisition of certain assets in the Uinta Basin from LINN Energy, Inc. (ticker: LNGG). LINN announced the sale of the properties in January. The assets will be managed by Altamont Energy, a recently formed affiliate of Silverpeak, according to a press release from Silverpeak.
LINN Energy, Inc. (ticker: LNGG) reported its 2017 results today and provided details on its announced split into three entities. “Through our successful divestiture program of almost $2.0 billion, we have extinguished all our debt, executed on our share repurchase program and recently completed a sizable tender offer to return capital to our shareholders. At the same time we performed
LINN Energy, Inc. (ticker: LNGG) has signed a definitive agreement to sell its interest in properties located in the Altamont Bluebell Field to an undisclosed buyer for a contract price of $132 million. The properties to be sold consist of approximately 36,000 net acres in Utah with Q3 net production of approximately 1,450 BOEPD, proved developed reserves of ~5.8 MMBOE(1) and
LINN Energy, Inc. (ticker: LNGG) announced that it has signed a definitive agreement to sell its Oklahoma Waterflood and Texas Panhandle properties to an undisclosed buyer for a contract price of $122 million, subject to closing adjustments. The combined properties to be sold consist of approximately 179,000 net acres in Oklahoma and Texas with third quarter net production of approximately
LINN Energy, Inc. (ticker: LNGG) entered an agreement to sell its interest in properties located in Wyoming to an undisclosed buyer for a contract price of $200 million, the company said in a press release. The properties to be sold consist of approximately 163,000 net acres in the Washakie Field in Wyoming with second quarter net production of approximately 66
Linn Energy files bankruptcy with $9.4 billion in debt on the balance sheet The total dollar amount of oil and gas bankruptcies grow substantially this week when Linn Energy (Ticker: LINE) announced that it has filed for Chapter 11 on May 11, 2016. The company said previously that current commodity prices, mixed with its weak balance sheet could potentially make
From a $261 million IPO, to a top-20 publicly traded E&P, to possible bankruptcy Linn Energy (ticker: LINE, LinnEnergy.com) became one of the largest publicly-traded U.S. E&P companies over the course of its now 13 years of operations. Started in 2003 by Michael Linn, the company first listed on the stock market in January 2006 before going on to make
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