Linn

Anticipating “a significantly lower current crude oil price than in 2014,” Linn Energy LLC and LinnCo LLC slashed oil and gas capital spending for the year by 53% and cut their dividend/distribution to $1.25 per share/unit from $2.90 annually. Additionally, a $500 million private capital agreement was struck to fund drilling.

Linn Energy LLC struck two deals to sell assets in Texas for gross proceeds of $2.3 billion, which will be used to pay for a recent acquisition, the company said Friday.

ExxonMobil Corp. has added 17,800 net acres to its Permian Basin portfolio in a swap of some of its California land with Linn Energy LLC.

Linn Energy LLC on Monday added 235,000 net acres to its industry-leading position in the gassy Hugoton Basin in a $340 million transaction with Pioneer Natural Resources Co. Pioneer also said it would sell Barnett Shale properties to an undisclosed buyer for $155 million.

ExxonMobil Corp. will build its Permian Basin position to 1.5 million acres and Linn Energy LLC is becoming the biggest producer in the Hugoton Basin of Kansas after the producers agreed to a trade, sans cash, late Wednesday.

Linn Energy LLC has agreed to raise its offer for Berry Petroleum Co. by $600 million, reinvigorating the mega-deal while the partners await a decision from the Securities and Exchange Commission (SEC).

Linn Energy LLC is buying Permian Basin oil and gas properties for $525 million, acquiring 30 million boe of proved reserves (about 70% oil) with a reserve-to-production ratio of about 17 years.

A bipartisan group of Michigan House lawmakers is urging its colleagues to consider ways to boost natural gas exploration, development and production, including a proposal to put more land up for oil and natural gas leasing, including its considerable unconventional resources, that include the Antrim, Collingwood and Utica shales.

Crestwood Midstream Partners LP is a bit of an anomaly in the midstream sector as it is focused exclusively on shale plays, CEO Robert Phillips told financial analysts Tuesday. It’s the only partnership that does so, save for the much larger Chesapeake Midstream Partners, he said.