DOCSLIB.ORG

Sep I 0 2019

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sep I 0 2019 Date:91412019 FILED 0 2019 To: sEP I State of Utah Board of DNR SEGRETARY BOARD OF Division of Oil Gas & Mining OIL, GAS & MINING 1594 W North Temple, Suite 1210 Salt Lake City, UT 84116 Docket No. 2019-021 From: Cause No. 139-168 VETAR ENERGY G.P. (the Creditor) 2233 East 3'd Ave. Port Angeles, WA 98362 Phone No: (360) 477-5234 E-mail [email protected] Pursuant to Utah Code 40-6-9 (4), with this letter we file a petition with the board to conduct a hearing to determine why the Oil and Gas Royalty proceeds have not been paid to us. The Debtor: Riviera Operatine. LLC flVaLinn Energy Holdings LLC, Riviera Resources, a spin-off from LINN Energy,Inc. 600 Travis, Suite 1700 Houston, TX77002 Contact person at Riviera Operating, LLC Ms. Holly Anderson, Executive Vice President and General Counsel Phone: 281-840-4155 E-mail: handers com l. Two (2) Oil and Gas Wells named, White l-23C5 and White Trust 3-23C5, located in Section 23, Township 3 South - Range 5 West, Duchesne County, State of Utah. 2. Vetar Energy G.P., the Lessor, owns an undivided 20% interest of the Mineral Rights of Section 23:Wll2SEll4;SWll4 (240 gross acres) (48 net acres). 3. The lease was entered into on 17 April 1971, stipulating a Il8 (I2.5%) Royalty payment. 4. The lease was purchased from EP Energy, by LINN Energy LLC. prior to commencement of drilling in 2015. Consequently, becoming the Lessee, who is by State of Utah law, responsible of paying the Lessor the Royalty. 5. The Debt relates to the net Oil and Gas revenues from production and sales, forwarded monthly to LINN Energy LLC. (the lessee), by EP Energy E&P Company, L.P., the Operator of the subject wells. We are in receipt of Riviera Operating, LLC letter dated June 27,2019 answering Vetar Energy G.P Demand Letter dated June 4, 2019. The two (2) letters are hereto attached. In an Amended Demand letter from us, to Riviera Operating, LLC, dated 712812019, the amount owed VETAR Energy was changed to $48,842,07,the amount of royalties from the subject wells, for the period of production from June 2015 through May 2016.Itemized statement hereto attached. Utah Code 40-6-9. Proceeds from sale of production - Payment of proceeds - Requirements and 40-6-9.1. Payment information to royalty owners. https://le.utah. gov/xcode/Title4O/Chapter6/40-6- S9.html 1. None of the Codes therein were followed by LINN Energy LLC. For one (1) year, from June 2015 to May 2016. LINN Energy deposited all of the Royalty funds, belonging to the lessors, into its own general account, treating it as its own, and embezzling its true recipients the lessors. 2. LINN Energy LLC, (the lessee) also failed to mail a DIVISION ORDER to VETAR Energy G.P. (the lessor) to secure a signature. This should have been done immediately upon commencement of production of each well. 3. Riviera Operating, LLC letter dated June 27,2019, argue that the Royalty payments owed to Vetar Energy G.P. was forfeited to LINN Energy's Chapter l1 Reorganization proceedings. However, LINN Energy LLC continued to pay VETAR Energy for Royalties on four (4) other wells during the same time period. Showing that here they did followed the laws of State of Utah. 4. At one point durin92016, starting June 2016, the Royalty proceeds, due the lessors to this property, were deposited into a Bank escrow account (suspense account). The Debtors lists the following Companies, including its tax identification numbers, in in its Chapter 1l Plan of Reorganization, l. Linn Energy,LLC (7591) 2. Linn Co, (6623) 3. Linn Acquisition Company LLC (4791) 4. Linn Energy Finance Corp. (5453) 5. Linn Energy Holdings LLC (6517) 6. Linn Exploration and Production Michigan LLC (0738) 7. Linn Exploration Midcontinent LLC (3143) 8. Linn Midstream LLC (9707) 9. Linn Midwest Energy LLC (1712) 10. Linn Operating Inc. (3530) 11. Mid-Continent I LLC (1812) 12. Mid-Continent II LLC (1869) 13. Mid-Continent Holdings I LLC (1686) 14. Mid-Continent Holdings II LLC (7129) The extended family members listed below; each owns a like amount of Royalty interest in the subject property as VETAR Energy, and wish to be part of this petition/request. J. Smith Investments LCC. owns an undivided 2D%;oMiner.al Royalty Interest in SW1/4, Ell2SEIl4 Sec. 23 David Smith, General Manager 3745 Greenbriar Way Salt Lake City, UT 84109 E-mail add: [email protected] Home: 801- 272-2872, Mobil: (801) 599-0467 Voda Investments LLC owns an undivided 20% Mineral Royalty Interest in SWI/4, EIl2SEll4 Sec. 23 David Voda, General Manager 897 North 2500 West Hurricane, Utah84737 E-Mail: dsvoda@,hotmail.com Home: (435) 635-5272 Publications available: LINN Energy LLC's management, sold Linn Energy's assets in Utah, including our leases, to Altamont Energy for 132 Million Dollars, LINN Energy LLC's management, claims all Creditors were paid in full during Chapter 11 Reorganization proceedings. Big payouts after bankruptcy as Linn Energy seeks to dissolve name By Jordan Blum, StaffWriter April 23,2018 Former Wall Street darling Linn Energy will abandon the "Linn" name as it splinters into multiple businesses, but not before its three top leaders took in more than $110 million rn compensation after the company emerged last year from arguably the biggest bankruptcy of the recent oil bust. Yours sincerely. GP Jorgen W. Bogdanoff, General Partner (appointed representative) ENERGY June27,2AL9 VETAR ENERGY G.P. 2233 East 3'd Ave. Port Angeles, WA 98362 Attn: Jorgen W. Bogdanoff Managing General partner Dear Sirs: This is to acknowledge receipt of your letter of Jun e 4,2OL9 whereby you allege the non-payment of certain royalties due for periods of time from 2015 through February 2018 related to the White 1-23C5, White 2-23C5, and White Trust 3-23C5 wells. All of these dates precede the date that Altamont purchased the wells from Linn Energy. These alleged breaches, if any, remain the responsibility of Linn Energy (now Riviera Resources). Altamont has notified Riviera of your claims. Altamont recommends that you contact Riviera directly. The Riviera representative is Holly Anderson. Her contact information is: Email: [email protected] Phone: 28L-840-4155 Ms. Anderson is copied on this correspondence Sincerely, Brian Mazeski Controller Cc: Holly Anderson, General Counsel, Riviera Resources 600 Travis, Suite 1700 Riviero Horrston, TX 77002 Operating, l,l,(', (281) 840-4000 Iune27,2019 VETAR ENERGY G.P, 2233 East3d Ave. Port Angeles, WA 98362 Re: Payment Demand Letter Dated June 4, 2019 submitted to Altamont Energy Operating LLC We are in receipt of the above-referenced demand from VeTar Energy G.P, which includes a claim for royalties in the White l-23C5 and White Trust 3-23C5 for periods from June 2015 to May *Pre-Petition 2016 (the Demand'). Altamont Energy Operating, LLC referred this Demand to Riviera Operating, LLC fMalinn Operating, Inc., individually and as agent for Riviera Upstream, LLC flHa Linn Energy Holdings, LLC because the Prepetition Demand predates Altamont's ownership in the referenced properties, arising instead during the time frame in which Linn Energy *LINII") Holdings, LLC andior Linn Operating, Inc. (collectively owned the interest in the properties from which the Pre-Petition Demand arises. We have reviewed the Pre-Petition Demand and believe that any obligation described therein which relates to obligations owed prior to February 28,2017 was discharged as a result of LINN's bankruptcy proceedings, as described in detail below. On May ll,2016 (the"Petition Date"), Linn Energy, LLC and certain of its affiliates including LINN, (collectively, the 'oDebtors") colnmenced voluntary cases under chapter I I of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southem District ofTexas (the"Bankruptcy Court"). On October 21,2016, LINN filed its Chapter 11 Plan of Reorganizationwith the Bankruptcy Court (as amended and supplemented, Ihe"Plan"). On January 27,2A17, the Bankruptcy Court entered an order confirming the Plan, which was effective on February 28,2017 (the "Effective Date"). Generally the provisions of the Plan bind any creditor of the Debtors, whether or not they accepted the Plan. See Sl I4l of the Banlvuptcy Code. Except as otherwise provided in the Plan, the Debtors were discharged from any debt that arose before the Confirmation Date. See SI 141 of the Banlvuptcy Code. Moreover, Article VIII.B of the Plan provides ...the distributions, rights, and treatment that are provided in the Plan shall be in complete satisfaction, discharge, and release, effective as of the Effective Date, of Claims... Interests, and Causes of Action of any nature whatsoever, including interest accrued on Claims or Interests from and after the Petition Date, whether known or unknown, against liabilities of, Liens on, obligations o{ rights against, and Interests in, the LINN Debtors or any of their assets or properties ... including demands, liabilities, and Causes of Action that arose before the Effective Date..., in each case whether or not (1) a Proof of Claim based upon such debt or right is Filed or deemed Filed pursuant to section 501 of the Bankruptcy Code, (2) a Claim or Interest based upon such debt, right or Interest is Allowed pursuant to section 502 of the Bankruptcy Code, or (3) the Holder of such a Claim or lnterest has accepted the Plan. Any default or "event of defaulf' by the LINN Debtors or Affrliates with respect to any Claim or Interest that existed immediately before or on account of the Filing of the Chapter I I Cases shall be deemed cured (and no longer continuing) as of the Effective Date.
Load more

Recommended publications
  • UNITED STATES DISTRICT COURT SOUTHERN DISTRICT of NEW YORK X FRANK DONIO, LARRY FORSGREN, JEROME M. MATEZ, and JAN PATTERS
    UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK x FRANK DONIO, LARRY FORSGREN, : Civil Action No. JEROME M. MATEZ, and JAN PATTERS, : Individually and on Behalf of All Others : COMPLAINT FOR VIOLATION OF THE Similarly Situated, : FEDERAL SECURITIES LAWS : Plaintiffs, : : vs. : : LINN ENERGY, LLC, MARK E. ELLIS, : KOLJA ROCKOV and DAVID B. ROTTINO, : : Defendants. x Plaintiffs Frank Donio, Larry Forsgren, Jerome M. Matez and Jan Patters (“Plaintiffs”) allege the following based upon the investigation of Plaintiffs’ counsel, which included a review of United States Securities and Exchange Commission (“SEC”) filings by LINN Energy, LLC (“LINN” or the “Company”), as well as securities analysts’ reports and advisories about the Company, press releases, media reports and other public statements issued by or about the Company. Plaintiffs believe that substantial additional evidentiary support will exist for the allegations set forth herein after a reasonable opportunity for discovery. NATURE OF THE ACTION 1. This is a securities class action on behalf of purchasers of LINN units between February 25, 2010 and July 3, 2013, inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”). 2. LINN describes itself as a top-15 U.S. independent oil and natural gas development company whose mission is to acquire, develop and maximize cash flow from its portfolio of long- life oil and natural gas assets. LINN, a limited liability company, became a public entity when it issued “units” representing its limited liability company interests to the public in 2006. The units are listed and trade under the symbol “LINE” on the National Association of Securities Dealers Automated Quotation (“NASDAQ”) Global Select Market.
    [Show full text]
  • Weekly Rpt KS Front Page.Indd
    Independent Oil & Gas Service, Inc. Red Top News Service Wichita, Kansas BP America Announces Sale of Hugoton Properties Linn Energy LLC Acquires Properites and Gas Processing Plant BP America Production Company (NYSE: BP) announced that it has agreed to sell its interests in the Hugoton, Kansas, Jayhawk gas processing plant and associated producing Hugoton Embayment gas fields in south- western Kansas to an affiliate of LINN Energy, LLC (NASDAQ: LINE), headquartered in Houston, Texas. Under the agreement, LINN Energy has agreed to pay BP $1.2 billion in cash. Completion of the agreement is subject to closing conditions including the receipt of all necessary governmental and regulatory approvals. The sale is currently expected to complete on March 30, 2012. The agreement includes the sale of all of BP’s working interest in about 2,400 wells in the Hugoton natural gas field, as well as the Hugoton Jayhawk gas processing plant, which has a processing capacity of about 450 mil- lion standard cubic feet of gas per day (mmscf/d). The majority of BP’s current net natural gas production of about 110 million cubic feet of gas equivalent in the area is processed through the plant. BP group chief executive Bob Dudley said: “We are reshaping BP’s business around the world, focusing on our strengths and future growth opportunities. The sale of these mature assets will allow us to concentrate our efforts on our strong core positions in the U.S. and globally.” In 2011, BP produced over 1,800 mmscf/d natural gas in the United States.
    [Show full text]
  • Hedging in Energy: the Case of LINN Energy, LLC
    University of Arkansas, Fayetteville ScholarWorks@UARK Finance Undergraduate Honors Theses Finance 5-2016 Hedging in Energy: The aC se of LINN Energy, LLC Riley E. Nelson University of Arkansas Follow this and additional works at: http://scholarworks.uark.edu/finnuht Part of the Corporate Finance Commons, and the Finance and Financial Management Commons Recommended Citation Nelson, Riley E., "Hedging in Energy: The asC e of LINN Energy, LLC" (2016). Finance Undergraduate Honors Theses. 25. http://scholarworks.uark.edu/finnuht/25 This Thesis is brought to you for free and open access by the Finance at ScholarWorks@UARK. It has been accepted for inclusion in Finance Undergraduate Honors Theses by an authorized administrator of ScholarWorks@UARK. For more information, please contact [email protected], [email protected]. Hedging in Energy: The Case of LINN Energy, LLC An Honors thesis submitted in partial fulfillment of the requirements for the degree of BSBA, Finance by Riley Nelson University of Arkansas, Fayetteville BSBA Finance, 2016 Advisor: Craig G. Rennie, Ph.D., ERP This report is prepared for educational purposes and for the Sam M. Walton College of Business at the University of Arkansas. It is in no way a solicitation to buy or sell securities, and no guarantee or warranties about the information contained in it are implied. 1 Executive Summary: This paper is a case study of LINN Energy, LLC over the period of Q1 2013 to Q4 2015. Due to volatility in commodity prices, energy companies choose to hedge their future production using forwards, futures, swaps, and options strategies. I selected LINN Energy as the subject for this study due to the breadth of detailed historical hedging information available through the company’s website.
    [Show full text]
  • David Adrian Luciano, Et Al. V. Linnco, LLC, Et Al. 13-CV-04790-Class
    Case 1:13-cv-04790-CM Document 1 Filed 07/10/13 Page 1 of 31 i LAY 90 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK DAVID LUCIANO, Individually and on Civil Action No.: Behalf of All Other Persons Similarly Situated, Plaintiff, JURY TRIAL DEMANDED V. L1NNCO, LLC, MARK E. ELLIS, KOLJA ROCKOV, DAVID B. ROTTINO, GEORGE A. ALCORN, DAVID D. DUNLAP, TERRENCE S. JACOBS, MICHAEL C. L1NN, JOSEPH P. MCCOY, JEFFREY C. SWOVELAND, BARCLAYS CAPITAL INC., CITIGROUP GLOBAL MARKETS INC., RBC CAPITAL MARKETS, LLC, WELLS FARGO SECURITIES, LLC, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, CREDIT SUISSE SECURITIES (USA) LLC, RAYMOND JAMES & ASSOCIATES, INC., UBS SECURITIES LLC, GOLDMAN, SACHS & CO., J.P. MORGAN SECURITIES LLC, ROBERT W. BAIRD & CO., INCORPORATED, BMO CAPITAL MARKETS CORP., CREDIT AGRICOLE SECURITIES (USA) INC., CIBC WORLD MARKETS CORP., HOWARD WElL INCORPORATED, AND MITSUBISHI UFJ SECURITIES (USA), INC., Defendants. CLASS ACTION COMPLAINT Plaintiff David Luciano ("Plaintiff'), individually and on behalf of all other persons similarly situated, by his undersigned attorneys, for his complaint against defendants, alleges the following based upon personal knowledge as to himself and his own acts, and upon information Case 1:13-cv-04790-CM Document 1 Filed 07/10/13 Page 2 of 31 and belief as to all other matters, based upon, inter alia, the investigation conducted by and through his attorneys, which included, among other things, review and analysis of (a) regulatory filings made by LinnCo, LLC ("LNCO" or the "Company"), with the United States Securities and Exchange Commission ("SEC"); (b) press releases and other public statements published and disseminated by LNCO; (c) transcripts of earnings calls conducted by officers of LNCO after the announcement of quarterly earnings; (d) media reports about LNCO and its management; and (e) review of other publicly available information concerning LNCO and its management.
    [Show full text]
  • Corporate List
    Corporate Name Change & Merger Index Current As Of: March 12, 2020 Issuing Original or Previous Company Name Current Company Name Date of Memo State Office 08/08/2018 1986 STEA Ltd Partnership I Program Acquisition Company 05/21/2001 WY 1986 STEA Ltd Partnership II Program Acquisition Company 05/21/2001 WY 1987-STEA Ltd Partnership Program Acquisition Company 05/21/2001 WY 1987-II STEA Ltd Partnership Program Acquisition Company 05/21/2001 WY 1987III STEA Ltd Partnership Program Acquisition Company 05/21/2001 WY 1987-IV STEA Ltd Partnership Program Acquisition Company 05/21/2001 WY 1987-VI STEA Ltd Partnership Program Acquisition Company 05/21/2001 WY 1988-I TEAI Ltd Partnership Program Acquisition Company 05/21/2001 WY 1988III TEAI Ltd Partnership Program Acquisition Company 05/21/2001 WY 1988IV TEAI Ltd Partnership Program Acquisition Company 05/21/2001 WY 1988-V TEAI Ltd Partnership Program Acquisition Company 05/21/2001 WY 1988-VI TEAI Ltd Partnership Program Acquisition Company 05/21/2001 WY 1988VII TEAI Ltd Partnership Program Acquisition Company 05/21/2001 WY 1989III TEAI Ltd Partnership Program Acquisition Company 05/21/2001 WY 3TECH Energy Corp PXP Gulf 07/17/2003 NM 44 Canyon, L.L.C. Pure Resources, LP 06/08/2006 NM A 1 Corporate Name Change & Merger Index Current As Of: March 12, 2020 Issuing Original or Previous Company Name Current Company Name Date of Memo State Office AA Development Corporation AA Energy Corp 02/11/1985 WY Amended Decision-Additional Lease 10/29/1985 WY AA Energy Corp AMR Energy Corp 02/11/1985 WY Amended Decision-Additional Lease 10/29/1985 WY Aberdeen American Petro Aberdeen Petro (USA) Inc 04/10/1990 WY 05/14/2013 CO Abraxas Operating, LLC Abraxax Petroleum Corporation 08/26/2013 WY Abraxas Production Co Abraxas Petroleum Corp 11/30/1999 WY ABO Petroleum Corporation EOG A Resources Inc.
    [Show full text]
  • US Oil and Gas Reserves and Production Study 2019 Table of Contents
    US oil and gas reserves and production study 2019 Table of contents Study overview 1 Study highlights 2 Capital expenditures 4 Revenues and results of operations 5 Oil reserves 7 Gas reserves 9 Performance measures Proved reserve acquisition costs, finding and development 10 costs and reserve replacement costs Production replacement rates 11 Production costs 13 Company statistics 14 Peer groups 26 Appendix 27 Contacts 29 Study overview The US oil and gas reserves and production study is a compilation and analysis of oil and gas reserve disclosure information as reported by publicly traded companies in their annual reports filed with the United States Securities and Exchange Commission (SEC). This report presents the US exploration and production (E&P) results for the five-year period from 2014 through 2018 for the 50 largest companies based on 2018 end-of-year US oil and gas reserve estimates. The study companies cover approximately 42% of the US combined oil and gas production for 2018 (44% for 2017). Activities related to acquisitions have also been reflected as described in the appendix. Study companies Due to the significance of the oil and gas reserves attributable to the study companies, the results of these companies are generally representative of the US E&P industry as a whole. Total US production is fast approaching a leading global position, giving this study’s findings an impact beyond the US borders, but it should be noted that results for these companies and for the E&P industry as a whole may be significantly different in other regions of the world.
    [Show full text]
  • Filed by Linnco, LLC and Linn Energy, LLC Commission File Nos
    Filed by LinnCo, LLC and Linn Energy, LLC Commission File Nos. 001-35695 and 000-51719 Pursuant to Rule 425 Under the Securities Act of 1933 And Deemed Filed Pursuant to Rule 14a-12 Under the Securities Exchange Act of 1934 Subject Company: Berry Petroleum Company Commission File No. 001-09735 Berry Petroleum Town Hall Meetings February 22, 2013 Mark Ellis Chairman, President and Chief Executive Officer Embrace & Drive Change Pursue Growth Take Action Respect Others Be Passionate Connect Our Values Embrace and Drive Change Pursue Growth Take Action Respect Others Be Passionate Connect 4 Who We Are Connected to our employees, families and communities A top-10 MLP/LLC LINN Energy is… A top-15 independent oil and natural gas E&P Passionate about leading the business sector we started Dedicated employees with ownership in the company driving our growth LINN Energy has… A company that takes action Investors who are confident in our business model A sustainable asset inventory Embrace new employees and provide all employees with opportunities to grow personally and professionally Grow through acquisitions and organic activities LINN Energy will… Maintain our financial stability Operate in a manner that protects employees, contractors, the public and environment 5 Our Strategy LINN’s primary business objective is to provide stability and growth of distributions to our unitholders (LINE) and shareholders (LNCO) Focus on U.S. onshore basins providing significant opportunities for future growth and consolidation Target acquisitions providing long-life, high-quality production with predictable decline curves and low- risk development opportunities Organically grow reserves and production Reduce cash flow volatility through hedging 6 MLP and Independent E&P Rankings LINN is one of the largest MLP and independent E&P companies 7th largest public MLP/LLC th 11 largest domestic independent oil & natural gas company Rank Master Limited Partnership Enterprise Value ($MM) Rank Independent E&P Enterprise Value ($MM) 1.
    [Show full text]
  • LINN Energy, Inc
    Q3 2017 EARNINGS PRESS RELEASE HOUSTON, November 14, 2017 – LINN Energy, Inc. (OTCQB: LNGG) (“LINN” or the “Company”) LINN ENERGY REPORTS announces financial and operating results for the third quarter of 2017 and provides updated guidance for the fourth quarter and full- THIRD-QUARTER 2017 RESULTS year 2017. The Company • Met or exceeded production, revenue and expense guidance for the last three quarters in a row highlights the • Exceeded $1.5 billion in closed and pending asset sales, with additional transactions expected to be announced before following: year end • Pro forma for pending transactions, LINN is expected to have more than $430 million in cash and is actively evaluating ways to return capital to its shareholders • Eliminated all debt and negotiated a new $500 million credit facility • Increased share repurchase program to $400 million and as of October 31, 2017, repurchased ~5.2 million shares for ~$179 million at an average price of $34.52 per share, representing almost 6 percent of outstanding shares • Closed on the transaction to form Roan Resources LLC (“Roan”) • Tony Maranto, former head of EOG-Oklahoma City, named as President and Chief Executive Officer of Roan • Successfully drilled and completed two horizontal wells in Ruston, North Louisiana with peak IP-30 rates of 11 MMcf/d and 19.4 MMcf/d, respectively Our tremendous success this year is evident in our share performance as we have consistently met or exceeded operating guidance. During the quarter we met a major milestone as we closed on the transaction to form Roan, a new pure play company with approximately 140,000 total net acres (1) focused on the accelerated development of the prolific Merge/SCOOP/STACK play in Oklahoma.
    [Show full text]
  • Linn Energy, Llc
    LINN ENERGY, LLC FORM 10-K (Annual Report) Filed 03/15/16 for the Period Ending 12/31/15 Address 600 TRAVIS SUITE 5100 HOUSTON, TX 77002 Telephone 281-840-4000 CIK 0001326428 Symbol LINE SIC Code 1311 - Crude Petroleum and Natural Gas Industry Oil & Gas Operations Sector Energy Fiscal Year 12/31 http://www.edgar-online.com © Copyright 2016, EDGAR Online, Inc. All Rights Reserved. Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2015 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number: 000-51719 LINN ENERGY, LLC (Exact name of registrant as specified in its charter) Delaware 65-1177591 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 600 Travis, Suite 5100 Houston, Texas 77002 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code (281) 840-4000 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Units Representing Limited Liability Company Interests The NASDAQ Global Select Market Securities registered pursuant to Section 12(g) of the Act : None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
    [Show full text]
  • Riviera Investor Presentation August 23, 2018
    Riviera Investor Presentation August 23, 2018 Forward-Looking Statements and Risk Factors Statements made in this presentation that are not historical facts are “forward-looking statements.” These statements are based on certain assumptions and expectations made by Riviera Resources, Inc. (“Riviera” or the “Company”) which reflect management’s experience, estimates and perception of historical trends, current conditions, and anticipated future developments. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or anticipated in the forward-looking statements. These include risks relating to financial and operational performance and results of the Company, continued low or further declining commodity prices and demand for oil, natural gas and natural gas liquids, ability to hedge future production, ability to replace reserves and efficiently develop current reserves, the capacity and utilization of midstream facilities and the regulatory environment. These and other important factors could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Please read “Risk Factors” in the Company’s Registration Statement on Form S-1 and other public filings. We undertake no obligation to publicly update any forward- looking statements, whether as a result of new information or future events. Reserve Estimates The Securities and Exchange Commission (the “SEC”) permits oil and natural gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that meet the SEC’s definitions for such terms. The Company may use terms in this presentation that the SEC’s guidelines strictly prohibit in SEC filings, such as “estimated ultimate recovery” or “EUR,” “resources,” “net resources,” “total resource potential” and similar terms to estimate oil and natural gas that may ultimately be recovered.
    [Show full text]
  • Filed by Linnco, LLC and Linn Energy, LLC Commission File Nos
    Filed by LinnCo, LLC and Linn Energy, LLC Commission File Nos. 001-35695 and 000-51719 Pursuant to Rule 425 Under the Securities Act of 1933 And Deemed Filed Pursuant to Rule 14a-12 Under the Securities Exchange Act of 1934 Subject Company: Berry Petroleum Company Commission File No. 001-09735 a different kind of oil & natural gas company LINNCOLINN Energy HowardNASDAQ:LINE Weil • NASDAQ:LNCO March41st Annual 17 - 21, Ener 2013gy Conference Forward-Looking Statements and Risk Factors lookingStatements statements. made in Thesethese presentation statements are slides based and on by certain representatives assumptions of LINNand expectations Energy, LLC made and byLinnCo, the Company LLC (collectively which reflect the management’ “Company”) sduring experience, the course estimates of this and presentation perception that of historical are not historical trends, current facts are conditions, forward- factorsanticipated believed future to developments, be appropriate. potential Such statements for reserves are andsubject drilling, to a number completion of assumptions, of current and risks future and acquisitions,uncertainties, future many distributions, of which are futurebeyond growth, the control benefits of the of Companyacquisitions,, which future may competitive cause actual position results and to difotherfer accessmaterially to capital from thosemarkets, implied availability or anticipated of sufficient in the cashforward-looking flow to pay distributionsstatements. These and execute include our risks business relating plan, to financial prices and performance demand for and natural results, gas, indebtedness oil and natural under gas LINN liquids, Ener LINNgy’s Enercreditgy’ facilitys ability and to Seniorreplace Notes, reserves thatand efcouldficiently cause develop actual resultsLINN Enerto difgy’fers materiallycurrent reserves, from those LINN anticipated Energy’s abilityor implied to make in the acquisitions forward-looking on economically statements.
    [Show full text]
  • Q2 2017 Earnings Press Release
    Q2 2017 EARNINGS PRESS RELEASE HOUSTON, Aug. 03, 2017 (GLOBE NEWSWIRE) -- LINN Energy, Inc. (OTCQB:LNGG) (“LINN” or the “Company”) LINN ENERGY REPORTS announced today financial and operating results for the second quarter of 2017 and provided updated guidance for the third quarter, SECOND-QUARTER 2017 RESULTS fourth quarter and full-year 2017. The Company • Signed an agreement to form Roan Resources LLC as a Merge/SCOOP/STACK pure play company with a core, largely highlights the contiguous position of approximately 140,000 tier 1 total net acres following: • Successfully tested third bench in the Merge with a peak IP-30 rate of more than 850 BOE/d (~64% liquids); lateral length of 4,186 feet in the Hunton • Exceeded $1 billion in net cash proceeds from closed asset sales as of August 1, 2017 • Eliminated all debt and is in the final stages of negotiating a new credit facility • As of July 31, 2017, repurchased ~841,000 shares for ~$27 million as part of the share repurchase program • Exceeded midpoint of adjusted production guidance with average daily production of 710 MMcfe/d • Revised G&A guidance for 2017 is $95 million, down significantly from the previous guidance of $120 million • Raised guidance for production and financial performance pro forma of announced asset sales • Commenced construction of Chisholm Trail Cryogenic facility located in the prolific Merge/SCOOP/STACK play We had another outstanding quarter as we outperformed midpoint of guidance for volumes, costs and financial targets along with executing on several strategic and value-adding initiatives. This is highlighted by signing an agreement to form Roan Resources LLC, a premier pure play company in the Merge/SCOOP/STACK.
    [Show full text]