Filed by Linnco, LLC and Linn Energy, LLC Commission File Nos
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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. -
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. -
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. -
Effective Tax Rates for Oil and Gas Companies Cashing in on Special Treatment
Effective Tax Rates for Oil and Gas Companies Cashing in on Special Treatment July 2014 Table of Contents Page Results in Brief …………………………………………………………………….. 3 Discussion ……………………………………………………………………………. 4 Conclusion …………………………………………………………………………… 6 Notes …………………………………………………………………………………… 6 U.S. Federal Effective Tax Rates, 2009-2013 …………………………… 7 Foreign Effective Tax Rates, 2009-2013 ………………………………..... 8 Deferred Tax Liabilities from Property, Plant, and Equipment in 2012 and 2013……………………………………………………………………….. 9 Appendix: Company Profiles ExxonMobil Corporation ……………………………………………......... 10 ConocoPhillips …………………………………………………………………. 12 Occidental Petroleum Corporation …………………………………….. 14 Chevron Corporation ………………………………………………………… 15 Anadarko Petroleum Corporation ………………………………………. 17 Chesapeake Energy Corporation …………………………………......... 19 EOG Resources, Inc. …………………………………………………........ 20 Devon Energy Corporation …………………………………………......... 22 Apache Corporation ………………………………………………………….. 23 Pioneer Natural Resources Company ………………………………….. 25 Continental Resources, Inc. ……………………………………………… 27 Marathon Oil Corporation …………………………………………………. 28 Hess Corporation ……………………………………………………………… 29 Range Resources Corporation ……………………………………………. 30 Plains Exploration & Production Company …………………………. 31 SandRidge Energy, Inc. ……………………………………………………. 33 Whiting Petroleum Corporation …………………………………………. 34 Denbury Resources, Inc. ………………………………………………….. 35 Noble Energy, Inc. …………………………………………………………… 36 Concho Resources Inc. …………………………………………………….. 37 Company Notes ………………………………………………………………… -
IPAA 2019 Oil and Gas Investment Symposium
IPAA 2019 Oil and Gas Investment Symposium April 8, 2019 NYSE:DNR www.denbury.com Cautionary Statements Forward-Looking Statements: The data and/or statements contained in this presentation that are not historical facts are forward-looking statements, as that term is defined in Section 21E of the Securities Exchange Act of 1934, as amended, that involve a number of risks and uncertainties. Such forward-looking statements may be or may concern, among other things, financial forecasts, future hydrocarbon prices and their volatility, current or future liquidity sources or their adequacy to support our anticipated future activities, our ability to further reduce our debt levels, possible future write-downs of oil and natural gas reserves, together with assumptions based on current and projected production levels, oil and gas prices and oilfield costs, current or future expectations or estimations of our cash flows or the impact of changes in commodity prices on cash flows, availability of capital, borrowing capacity, price and availability of advantageous commodity derivative contracts or the predicted cash flow benefits therefrom, forecasted capital expenditures, drilling activity or methods, including the timing and location thereof, the nature of any proposed future asset purchase or sales or dispositions or the timing or proceeds thereof, estimated timing of commencement of CO2 flooding of particular fields or areas, including CCA, or the availability of capital for CCA pipeline construction, or its ultimate cost or its date of completion, timing of CO2 injections and initial production responses in tertiary flooding projects, development activities, finding costs, anticipated future cost savings, capital budgets, interpretation or prediction of formation details, production rates and volumes or forecasts thereof, hydrocarbon reserve quantities and values, CO2 reserves and supply and their availability, potential reserves, barrels or percentages of recoverable original oil in place, levels of U.S. -
Effective Tax Rates for Oil and Gas Companies
Effective Tax Rates of Oil and Gas Companies: Cashing in on Special Treatment July 2014 Table of Contents Page Results in Brief …………………………………………………………………….. 3 Discussion ……………………………………………………………………………. 4 Conclusion …………………………………………………………………………… 6 Notes …………………………………………………………………………………… 6 U.S. Federal Effective Tax Rates, 2009-2013 …………………………… 7 Foreign Effective Tax Rates, 2009-2013 ………………………………..... 8 Deferred Tax Liabilities from Property, Plant, and Equipment in 2012 and 2013……………………………………………………………………….. 9 Appendix: Company Profiles ExxonMobil Corporation ……………………………………………......... 10 ConocoPhillips …………………………………………………………………. 12 Occidental Petroleum Corporation …………………………………….. 14 Chevron Corporation ………………………………………………………… 15 Anadarko Petroleum Corporation ………………………………………. 17 Chesapeake Energy Corporation …………………………………......... 19 EOG Resources, Inc. …………………………………………………........ 20 Devon Energy Corporation …………………………………………......... 22 Apache Corporation ………………………………………………………….. 23 Pioneer Natural Resources Company ………………………………….. 25 Continental Resources, Inc. ……………………………………………… 27 Marathon Oil Corporation …………………………………………………. 28 Hess Corporation ……………………………………………………………… 29 Range Resources Corporation ……………………………………………. 30 Plains Exploration & Production Company …………………………. 31 SandRidge Energy, Inc. ……………………………………………………. 33 Whiting Petroleum Corporation …………………………………………. 34 Denbury Resources, Inc. ………………………………………………….. 35 Noble Energy, Inc. …………………………………………………………… 36 Concho Resources Inc. …………………………………………………….. 37 Company Notes ………………………………………………………………… -
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. -
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. -
Denbury Resources 2016 Annual Reports
2016 ANNUAL REPORT The data and/or statements contained in this annual report that are not historical facts are forward-looking statements, as that term is defined in Section 21E of the Securities Exchange Act of 1934, as amended, that involve a number of risks and uncertainties. Such forward-looking statements may be or may concern, among other things, financial forecasts, future hydrocarbon prices and timing and degree of any price recovery versus the length or severity of the current commodity price downturn, current or future liquidity sources or their adequacy to support our anticipated future activities, our ability to further reduce our debt levels, possible future write-downs of oil and natural gas reserves, together with assumptions based on current and projected oil and gas prices and oilfield costs, current or future expectations or estimations of our cash flows, availability of capital, borrowing capacity, future interest rates, availability of advantageous commodity derivative contracts or the predicted cash flow benefits therefrom, forecasted capital expenditures, drilling activity or methods, including the timing and location thereof, estimated timing of commencement of carbon dioxide (CO2) flooding of particular fields or areas, dates of completion of to-be-constructed industrial plants and the initial date of capture of CO2 from such plants, timing of CO2 injections and initial production responses in tertiary flooding projects, acquisition plans andnd pproposals and dispositions, development activities, finding costs, anticipated -
Scoping Report for Cedar Creek Anticline CO2 Pipeline and EOR Development Project
United States Department of the Interior Bureau of Land Management DOI-BLM-MT-C020-2017-0081-EA Denbury Green Pipeline-MT, LLC, Denbury Onshore, LLC Cedar Creek Anticline CO2 Pipeline and EOR Development Project Location: Powder River County, Carter County, Fallon County, Montana (MT) Scoping Report U.S. Department of the Interior Bureau of Land Management Miles City Field Office 111 Garryowen Road Miles City, MT 59301 Phone: 406-233-2800 FAX: 406-233-2921 Table of Contents INTRODUCTION ................................................................................................................................................... 1 PROJECT DESCRIPTION ....................................................................................................................................... 1 IMPLEMENTATION OF SCOPING PROCESS ....................................................................................................... 1 RESULTS OF THE SCOPING PROCESS .................................................................................................................. 1 Comments from the Public ............................................................................................................................. 2 Local, State and Federal Agency Comments ................................................................................................ 2 Tribal Consultation .......................................................................................................................................... 2 Methodology and Summary -
Corporate Presentation September 2019 Cautionary Statements
Corporate Presentation September 2019 Cautionary Statements Forward-Looking Statements: The data and/or statements contained in this presentation that are not historical facts are forward-looking statements, as that term is defined in Section 21E of the Securities Exchange Act of 1934, as amended, that involve a number of risks and uncertainties. Such forward-looking statements may be or may concern, among other things, financial forecasts, future hydrocarbon prices and their volatility, current or future liquidity sources or their adequacy to support our anticipated future activities, our ability to further reduce our debt levels or extend debt maturities, together with assumptions based on current and projected production levels, oil and gas prices and oilfield costs, current or future expectations or estimations of our cash flows or the impact of changes in commodity prices on cash flows, availability of capital, borrowing capacity, price and availability of advantageous commodity derivative contracts or the predicted cash flow benefits therefrom, forecasted capital expenditures, drilling activity or methods, including the timing and location thereof, the nature of any future asset purchases or sales or the timing or proceeds thereof, estimated timing of commencement of CO2 flooding of particular fields or areas, including Cedar Creek Anticline (“CCA”), or the availability of capital for CCA pipeline construction, or its ultimate cost or date of completion, timing of CO2 injections and initial production responses in tertiary flooding -
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.