Roan Resources Inc., newly formed by Linn Energy Inc., Roan Holdings LLC and Roan LLC, expects to begin trading over the counter by the end of the month as a pure-play Oklahoma explorer.
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Roan Resources LLC executives said their new pure-play exploration and production (E&P) company plans to deploy an eighth rig in Oklahoma’s stacked plays by the end of the year, with a goal of more than doubling production by the end of 2019.
Linn Energy Inc. revised its initial plan to separate into three standalone companies and now expects to break into two entities in 3Q2018: a pure play exploration and production (E&P) company focused on the Midcontinent, and an upstream and midstream outfit with assets in several unconventional regions. The entire management team, including CEO Mark Ellis, also is planning to retire.
Linn Energy Inc. has repurchased about 5.9 million shares for $206 million as part of its ongoing $400 million share buyback program and expects to have $405 million in cash on hand at the end of the first quarter, as it continues to consider separating into three standalone companies in 2018.
About 7,200 acres in Oklahoma’s Merge prospect have been dedicated to Blue Mountain Midstream LLC’s Chisholm Trail system, Linn Energy Inc. said Wednesday.
Houston-based independent Linn Energy Inc., which began to gain traction this year after being laid low during the industry collapse, is setting its sights on creating three standalone companies by mid-2018, all designed to boost the value of the enterprise.
Houston-based Linn Energy said Monday it has signed a definitive agreement to sell its interest in properties in the Williston Basin for $285 million to an undisclosed buyer.
Houston-based Linn Energy Inc. is continuing to pare its portfolio, announcing Wednesday it has secured $200 million for the Washakie field in Wyoming.
Houston-based Linn Energy Inc., its focus now on upstream and midstream opportunities in the Midcontinent, has renamed its midstream subsidiary Blue Mountain Midstream LLC and said the unit has an agreement to build a cryogenic natural gas plant in Oklahoma.