Type
|
Public company |
---|---|
Traded as | NASDAQ: LNGG |
Industry | Petroleum industry |
Founded | 2003 (2003) |
Founder | Michael C. Linn |
Headquarters | Houston, Texas |
Key people
|
Mark E. Ellis, CEO Michael C. Linn, founder and director David B. Rottino, CFO Arden L. Walker, Jr., COO |
Products | Petroleum Natural gas |
Production output
|
118 thousand barrels of oil equivalent (720,000 GJ) per day |
Revenue | 0.243 billion (Q2 2017) |
Net income
|
0.220 billion (Q2 2017) |
Total assets | 3.201 billion (Q2 2017) |
Total equity | 2.256 billion (Q2 2017) |
Website | www |
Linn Energy, Inc. is an American petroleum, natural gas, and natural gas liquids exploration and production company based in Houston, Texas.
As of December 31, 2016, the company had 3.5 trillion cubic feet equivalent of estimated proved reserves, of which 17% were petroleum, 65% were natural gas, and 18% were natural gas liquids.
The company's core focus is production in Western Oklahoma. The company is also pursuing directional drilling in the Mid-Continent oil province, Rocky Mountains, North Louisiana and East Texas.
The company was founded in 2003 by Michael C. Linn.
In 2006, the company became a public company via an initial public offering that raised over $200 million.
In 2007, the company doubled its holdings by acquiring many of the oil and gas assets of Dominion Energy, mainly in Oklahoma, for $2.05 billion.
In 2011, the founder of the company, Michael C. Linn, retired.
In March 2012, the company acquired the holdings of BP in the Hugoton Natural Gas Area, the large gas-producing region from southwestern Kansas into the Texas Panhandle for $1.2 billion. The purchase included 2,400 active wells on 600,000 acres and a gas processing plant.
In June 2012, the company acquired 12,500 acres in the Jonah Field in southwest Wyoming from BP for approximately $1 billion.
In February 2013, the company acquired Berry Petroleum Company in a stock deal valued at $4.3 billion.
In September 2013, the company acquired assets in the Permian Basin for $525 million.
In June 2014, the company acquired assets from Devon Energy for $2.3 billion.
In August 2014, the company acquired assets in the Hugoton Natural Gas Area from Pioneer Natural Resources for $340 million. The company also sold its interests in non-producing acreage in the Anadarko Basin for $90 million.
In March 2016, the company missed a debt payment and announced that a bankruptcy filing was likely.
On May 11, 2016, the company filed for bankruptcy under Chapter 11, Title 11, United States Code.
In February 2017, the company completed a financial restructuring, which include the corporate spin-off of Berry Petroleum Company.
In May 2017, the company sold its interest in properties in the Salt Creek Field in Wyoming to Denbury Resources for $71.5 million.
In June 2017, the company sold its properties in the Jonah Field for $581.5 million.
In September 2017, the company formed Roan Resources LLC, a joint venture with Citizen Energy II, LLC.
In October 2017, the company sold properties in Wyoming for $200 million.
2016-03-31 | Reiterated Rating | Scotiabank | Focus Stock | |
2016-03-28 | Lower Price Target | Robert W. Baird | Outperform to Neutral | $21.00 to $10.00 |
2016-03-28 | Upgrade | Howard Weil | Sector Outperform to Focus Stock | $13.00 to $11.00 |
2016-03-16 | Reiterated Rating | Goldman Sachs | Sell | |
2016-03-16 | Reiterated Rating | Goldman Sachs Group Inc. | Sell | |
2016-02-18 | Downgrade | Wells Fargo | Market Perform to Underperform | |
2016-02-18 | Downgrade | Wells Fargo & Co. | Market Perform to Underperform | |
2016-02-12 | Downgrade | Citigroup Inc. | Neutral to Sell | |
2016-02-05 | Downgrade | Ladenburg Thalmann | Neutral to Sell | |
2016-02-05 | Downgrade | Raymond James | Market Perform to Underperform | |
2016-02-05 | Downgrade | Stifel Nicolaus | Hold to Sell | |
2016-02-05 | Downgrade | Raymond James Financial Inc. | Market Perform to Underperform | |
2015-12-18 | Reiterated Rating | Barclays | Hold | |
2015-12-18 | Reiterated Rating | Barclays PLC | Hold | |
2015-12-03 | Reiterated Rating | Scotiabank | Sector Perform | |
2015-12-02 | Initiated Coverage | FBR & Co. | Sell | |
2015-12-02 | Initiated Coverage | FBR & Co | Sell | |
2015-12-01 | Reiterated Rating | FBR & Co. | Underperform | $2.00 to $1.50 |
2015-10-12 | Downgrade | FBR & Co. | Market Perform to Underperform | $6.00 to $2.00 |
2015-10-06 | Downgrade | Stifel Nicolaus | Buy to Hold | |
2015-09-30 | Reiterated Rating | Barclays | Equal Weight | $9.00 to $1.50 |
2015-09-15 | Reiterated Rating | Citigroup Inc. | Hold | |
2015-09-14 | Lower Price Target | Citigroup Inc. | Neutral | $5.00 to $4.00 |
2015-08-17 | Downgrade | RBC Capital | Hold | |
2015-08-17 | Downgrade | Royal Bank Of Canada | Hold | |
2015-08-03 | Downgrade | RBC Capital | Outperform to Sector Perform | $15.00 to $5.00 |
2015-07-31 | Reiterated Rating | Stifel Nicolaus | Buy | $15.00 to $7.00 |
2015-07-31 | Downgrade | Credit Suisse | Neutral to Underperform | $10.00 to $5.00 |
2015-07-31 | Downgrade | JPMorgan Chase & Co. | Neutral to Underweight | $8.00 to $5.00 |
2015-07-31 | Downgrade | Credit Suisse Group AG | Neutral to Underperform | $10.00 to $5.00 |
2015-07-30 | Downgrade | Raymond James | Outperform to Market Perform | |
2015-07-21 | Lower Price Target | Raymond James | Outperform | $14.00 to $8.00 |
2015-07-02 | Reiterated Rating | Raymond James | Buy | |
2015-06-01 | Initiated Coverage | Morgan Stanley | Equal to Equal Weight | $11.00 |
2015-05-18 | Downgrade | Goldman Sachs | Neutral to Sell | $10.00 |
2015-04-01 | Reiterated Rating | JPMorgan Chase & Co. | Hold | $10.00 to $9.00 |
2015-03-26 | Lower Price Target | Citigroup Inc. | Neutral | $11.50 to $11.00 |
2015-02-24 | Lower Price Target | Barclays | Equal Weight | $10.00 to $9.00 |
2015-02-20 | Reiterated Rating | MLV & Co. | Hold | |
2015-02-03 | Downgrade | Howard Weil | Sector Perform | |
2015-02-02 | Downgrade | Howard Weil | Sector Outperform to Sector Perform | $13.00 to $11.00 |
2015-01-16 | Downgrade | Barclays | Overweight to Equal Weight | |
2015-01-07 | Downgrade | Barclays | Overweight to Equal Weight | $29.00 to $12.00 |
2015-01-06 | Reiterated Rating | MLV & Co. | Hold | |
2015-01-05 | Lower Price Target | Citigroup Inc. | Neutral | $23.50 to $11.50 |
2014-12-25 | Reiterated Rating | Wells Fargo & Co. | Hold | |
2014-12-25 | Reiterated Rating | Wells Fargo | Hold | |
2014-12-16 | Downgrade | Robert W. Baird | Outperform to Neutral | $21.00 to $10.00 |
2014-11-19 | Lower Price Target | Citigroup Inc. | Neutral | $32.00 to $23.50 |
2014-11-05 | Reiterated Rating | Stifel Nicolaus | Buy | $33.00 to $27.00 |
2014-11-04 | Downgrade | Credit Suisse | Outperform to Neutral | $31.00 to $28.00 |
2014-11-04 | Initiated Coverage | JPMorgan Chase & Co. | Neutral | |
2014-10-20 | Reiterated Rating | Barclays | Overweight | $31.00 to $29.00 |
2014-09-08 | Initiated Coverage | Credit Suisse | Outperform | $35.00 |
2014-05-27 | Reiterated Rating | JPMorgan Chase & Co. | Neutral | $30.00 to $31.00 |
2014-04-04 | Downgrade | Citigroup Inc. | Buy to Neutral | $41.50 to $32.00 |
2014-03-24 | Downgrade | JPMorgan Chase & Co. | Overweight to Neutral | $36.00 to $30.00 |
2014-03-03 | Boost Price Target | Ladenburg Thalmann | Neutral | $25.00 to $32.00 |
2014-02-27 | Downgrade | Howard Weil | Focus Stock to Sector Outperform | $36 |
2014-02-19 | Boost Price Target | Barclays | $22.00 to $23.00 | |
2014-01-23 | Upgrade | Robert W. Baird | Outperform | |
2014-01-22 | Upgrade | Howard Weil | Outperform to Focus Stock | $36.00 |
2014-01-06 | Upgrade | JPMorgan Chase & Co. | Neutral to Overweight | $35.00 to $36.00 |
2013-11-06 | Lower Price Target | Raymond James | Outperform | $37.00 to $35.00 |
2013-11-05 | Downgrade | Goldman Sachs | Buy to Neutral | $34.00 |
2013-11-04 | Upgrade | Janney Montgomery Scott | Neutral to Buy | |
2013-08-09 | Downgrade | Oppenheimer | Perform to Underperform | $23 |
2013-07-03 | Reiterated | Stifel | Buy | $48 to $33 |
2013-07-03 | Downgrade | Ladenburg Thalmann | Buy to Neutral | $45 to $25 |
2013-07-03 | Reiterated | |||
2013-04-08 | Downgrade | Global Hunter Securities | Accumulate to Neutral | |
2013-02-15 | Downgrade | Howard Weil | Sector Outperform to Sector Perform | |
2013-01-24 | Initiated | Howard Weil | Sector Outperform | $44 |
2012-06-28 | Initiated | Ladenburg Thalmann | Buy | $42 |
2016-03-31 | Reiterated Rating | Scotiabank | Focus Stock | |
2016-03-28 | Lower Price Target | Robert W. Baird | Outperform to Neutral | $21.00 to $10.00 |
2016-03-28 | Upgrade | Howard Weil | Sector Outperform to Focus Stock | $13.00 to $11.00 |
2016-03-16 | Reiterated Rating | Goldman Sachs | Sell | |
2016-03-16 | Reiterated Rating | Goldman Sachs Group Inc. | Sell |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In LINE 0 funds of 2213 total. Show all
Fund name | Ticker shares |
---|
Name Relationship | Total Shares | Holding stocks |
---|---|---|
LinnCo, LLC | 38.75% (128544174) | LINE / LNCO / |
ROCKOV KOLJA Exec VP and CFO | 0.12% (411178) | LINE / |
RIPLEY CHARLENE A SVP, GC and Corp. Secty. | 0.05% (162713) | LINE / |
Rottino David B. SVP and CAO | 0.05% (160515) | LINE / LNCO / |
Jacobs Terrence S | 0.05% (155000) | LINE / LNCO / |
Walker Arden Jr SVP and COO | 0.05% (153620) | LINE / LNCO / |
McNeil Jamin SVP - Houston Div Ops | 0.02% (80078) | LINE / |
Emmons Thomas E SVP - Corporate Services | 0.02% (57578) | LINE / |
Linn Michael C Executive Chairman | 0.01% (40121) | LINE / LNCO / NBR / WNRL / |
ALCORN GEORGE A | 0.01% (38656) | LINE / |
Wells Candice J VP - Gen Counsel & Corp Sec | 0.01% (23522) | LINE / |
SWOVELAND JEFFREY C | 0.01% (21615) | LINE / PDCE / |
MCCOY JOSEPH P | 0.01% (18615) | GGS / LINE / LNCO / |