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Linn Energy, Inc.
Type
Public company
Traded as NASDAQ: LNGG
Industry Petroleum industry
Founded 2003; 14 years ago (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 Increase 0.243 billion (Q2 2017)
Net income
Increase 0.220 billion (Q2 2017)
Total assets Decrease 3.201 billion (Q2 2017)
Total equity Increase 2.256 billion (Q2 2017)
Website www.linnenergy.com

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.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

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

Funds

In LINE 0 funds of 2213 total. Show all

Fund name Ticker shares

Major Shareholders

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 /