16 Jan 2018material agreement● Neutral
Agreed to sell producing wells and about 36,000 net acres in the Altamont Bluebell field in Utah for $132.0 million to a buyer the filing does not name.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
20 Dec 2017material agreement● Neutral
Agreed to sell producing wells and about 179,000 net developed acres in Texas and Oklahoma for $122.0 million to a buyer the filing does not name, with a 30 March 2018 outside closing date.
14 Dec 2017production update▲ GoodMajor
Announced plans to tender for at least $250 million of its own stock and to split into three standalone companies by mid-2018 -- the culmination of the post-bankruptcy strategy, foreshadowing the 2018 Riviera Resources spin-off and the eventual Roan Resources reorganization.
14 Nov 2017quarterly activities report● Neutral
Pressburg, LLC reported quarterly revenue of $39.8 million and net income of $10.7 million for the period ended 2017-09-30.
14 Nov 2017quarterly activities report● Neutral
Pressburg, LLC reported quarterly revenue of $39.8 million and net income of $10.7 million for the period ended 2017-09-30.
13 Oct 2017securities registration● Neutral
Pressburg, LLC filed the final prospectus for a registered offering.
5 Oct 2017material agreement▲ GoodMajor
Agreed to sell producing wells and acreage in the Washakie Field, Wyoming for $200 million, continuing the post-bankruptcy divestiture program.
26 Sept 2017securities registration● Neutral
Pressburg, LLC amended a filing by which it registered a securities offering with the SEC.
7 Sept 2017asset acquisition disposition● NeutralMajor
Closed the Roan Resources joint-venture contribution with Citizen Energy, each partner holding a 50% stake in the new Anadarko Basin-focused company governed by an eight-member board split evenly between them.
9 Aug 2017debt financing▲ Good
Entered a new $500 million senior secured revolving credit facility with Royal Bank of Canada, replacing the post-emergence Wells Fargo facility -- Linn's first post-bankruptcy credit line rebuild.
3 Aug 2017quarterly activities report● Neutral
Pressburg, LLC reported quarterly revenue of $30.3 million and net income of $1.8 million for the period ended 2017-06-30.
3 Aug 2017quarterly activities report● Neutral
Pressburg, LLC reported quarterly revenue of $30.3 million and net income of $1.8 million for the period ended 2017-06-30.
5 July 2017material agreement● NeutralMajor
Formed Roan Resources LLC, a 50/50 joint venture with Citizen Energy, contributing about 70,000 net Anadarko Basin acres in exchange for half the new company -- Linn's post-bankruptcy pivot toward joint-venture structures rather than outright ownership.
19 June 2017material agreement● Neutral
Signed construction and equipment-supply agreements worth roughly $89 million combined to build the Linn Chisholm Trail gas processing plant in Oklahoma -- a rare capital-investment (rather than divestiture) move during the post-bankruptcy retrenchment.
7 June 2017material agreement▲ Good
Agreed to sell Brea-Olinda Field, California acreage -- the very field Linn first acquired from Blacksand Energy in 2006 -- to Bridge Energy for $100 million plus a $7 million contingent payment, proceeds earmarked for its buyback program.
1 June 2017asset acquisition disposition▲ Good
Agreed to sell Salt Creek Field, Wyoming acreage to Denbury Onshore for $71.5 million, part of the same post-bankruptcy divestiture wave.
30 May 2017material agreement▲ GoodMajor
Agreed to sell San Joaquin Basin, California acreage to Berry Petroleum (now operating independently after the bankruptcy) for $263 million, continuing the post-emergence asset-sale program.
11 May 2017quarterly activities report● Neutral
Pressburg, LLC reported quarterly revenue of $31.0 million and net income of $16.3 million for the period ended 2017-03-31.
11 May 2017quarterly activities report● Neutral
Pressburg, LLC reported quarterly revenue of $31.0 million and net income of $16.3 million for the period ended 2017-03-31.
4 May 2017material agreement▲ GoodMajor
As post-bankruptcy Linn Energy, Inc., agreed to sell producing wells and acreage in western Wyoming to Jonah Energy for $581.5 million -- the start of a broad post-emergence divestiture program to reduce debt.
28 Apr 2017securities registration● Neutral
Pressburg, LLC registered a securities offering with the SEC.
28 Feb 2017listing compliance notice▼ BadMajor
Pressburg, LLC deregistered its securities, ending its obligation to file reports with the SEC.
24 Feb 2017securities registration● Neutral
Pressburg, LLC amended its automatic shelf registration statement.
3 Nov 2016quarterly activities report▼ Bad
Pressburg, LLC reported quarterly revenue of $286.9 million and a net loss of $198.4 million for the period ended 2016-09-30.
27 Oct 2016material agreement▼ BadMajor
Entered a First Amended and Restated Restructuring Support Agreement with second-lien and unsecured noteholders, consolidating the plan terms that would ultimately govern Linn's emergence from bankruptcy in early 2017.
18 Oct 2016material agreement▼ Bad
Amended the October restructuring support agreement -- continued fine-tuning of Chapter 11 plan terms with noteholders.
11 Oct 2016material agreement▼ BadMajor
Reached a new restructuring support agreement with a different creditor group -- holders of the 12% second-lien notes and the unsecured notes -- suggesting the original RSA parties and terms were being renegotiated as the case wore on.
26 Sept 2016material agreement▼ Bad
Amended the restructuring support agreement a second time as Chapter 11 negotiations continued.
9 Sept 2016material agreement▼ Bad
Amended the Chapter 11 restructuring support agreement with creditors -- continued negotiation of plan terms while the case proceeded.
4 Aug 2016quarterly activities report● Neutral
Pressburg, LLC reported quarterly revenue of $64.9 million and net income of $208.5 million for the period ended 2016-06-30.