Linn

Linn Energy Inc. is completing its exit from California with the sale of some properties in the Los Angeles Basin to an undisclosed buyer for $100 million.

One week after selling one set of assets, Linn Energy Inc. racked up a second sale, this time agreeing to shed its interest in Wyoming’s Salt Creek Field to Denbury Resources Inc., a carbon dioxide (CO2) enhanced oil recovery (EOR) specialist, for $71.5 million.

Linn Energy Inc. has agreed to sell a portion of its assets in California’s San Joaquin Basin to an undisclosed buyer for $263 million as it continues to reduce its debt.

Jonah Energy LLC, named after the company’s first acquisition in the gassy Jonah field in Sublette County, WY, is snapping up more acreage in its namesake field and in the Pinedale Anticline through a $581.5 million transaction with Linn Energy Inc.

Two more U.S. onshore operators, Linn Energy LLC and Penn Virginia Corp., have filed for Chapter 11 protection this week as the commodity price rout continues to claim more victims.

Two more U.S. onshore operators, Linn Energy LLC and Penn Virginia Corp., have filed for Chapter 11 protection this week as the commodity price rout continues to claim more victims.

Houston-based Linn Energy LLC, which made its name as a top onshore natural gas producer, warned Tuesday that bankruptcy may be unavoidable because of the continuing drain on finances from low commodity prices.

On the same day that Linn Energy LLC announced it was searching for strategic partnerships to bolster its balance sheet, Standard & Poor’s Ratings Service (S&P) downgraded the credit ratings for Linn and Berry Petroleum Co. — which Linn purchased in 2013 — over liquidity concerns.

Fresh from completing a semi-annual borrowing base redetermination, and with an eye on its liquidity, Linn Energy LLC reported a slight decline in total production for the third quarter and indicated that it could spend slightly less on capital expenditures (capex) in 2016.