LINN Energy (fka LINEQ)

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Live Updating

Older

redhedge

04/02/17 8:59 PM

Post #152

Where is a detailed acreage list for Linn?

Hello all. I see that LNGG (new Linn) will be trading shortly and I'm trying to do a better valuation of the company. I've been combing through their presentations and Ks, but the company does seem to not divulge too much on their land holdings.

Does anyone know where I can find a list of the gross acreage for Linn, by basin, in addition to the net acreage that they report? That would also be helpful to find working interest levels. Not easy to find!

Thanks,
Red

1manband

03/30/17 9:26 PM

Post #151

Re: #150: @piaredneck - send me ur worthless paper, if they file

send me ur worthless paper, if they file chapter 7 then i'll have plenty of tp, if they don't who knows i might become rich

Are you familiar with how bankruptcy works? The bankruptcy case is over. The old equity has been CANCELLED. The paper is already worthless, and will be forever.

You don't need to file Chapter 7 to have the old equity cancelled. It is cancelled in most Chapter 11 cases, too. Just like in this one.

LINEQ has no value. Not now, not ever.

piaredneck Free

03/23/17 1:29 AM

Post #150

send me ur worthless paper, if they file chapter 7 then i'll have plenty of tp, if they don't who knows i might become rich

1manband

02/28/17 8:45 PM

Post #149

Re: #148: @Renee - A very hard lesson to learn. I am

what will it ever take to convince I-Hub readers that a PLAN of share cancellation means the shares will be cancelled and shareholders will lose their entire investment?

I don't know Renee. I certainly posted the facts about the pending (and certain) cancelation enough times, and so did the Company themselves. Their 8-K's and 10-Q's stated very clearly that the common equity was being cancelled. Period.

If anyone failed to pay attention to the multiple warnings and still hold their units at the time of today's cancelation, they have no one to blame but themselves. There was absolutely no reason not to take advantage of the big volume and high price and dump what they had for at least some return. Something is always better than nothing.

Renee

02/28/17 5:49 PM

Post #148

Re: #147: @1manband - Thanks Renee. Your efforts on staying on top

A very hard lesson to learn. I am quite surprised the PPS was as high as it was. With over 6 million in volume either insiders were selling out to the optimists or traders just figured they could continue to play the stock with share cancellation in the distant future.

The distant future arrived today.

I remember KODAK was perplexed to the trading activity on KODAK stock so they even put out a news release stating the shares would unequivocally be cancelled. The stock still traded high volumes at around .40 cents until the Judge's gavel slammed down and the Judge ruled the stock was cancelled. The optimists or those in denial lost everything in an instant mid-day.

Seriously, 1Man.....what will it ever take to convince I-Hub readers that a PLAN of share cancellation means the shares will be cancelled and shareholders will lose their entire investment?

I don't get why the message does not sink in.

1manband

02/28/17 5:38 PM

Post #147

Re: #146: @Renee - LINEQ Bankruptcy PLAN effective. All shares cancelled. Note:

Thanks Renee. Your efforts on staying on top of the changes and your quick reporting is much appreciated. Based on the timeline in the last 8-K and the early trading this morning, I thought the end was likely to happen today.

There is absolutely NO reason anyone should still be holding this now worthless wallpaper. The Company has been warning equity holders for over 9 months they were going to lose everything. The last 8-K confirmed it, and even those dreamers that somehow hoped an equity committee would be appointed and some value for them would magically appear out of thin air should have sold and gotten some value based on the judge's flat-out rejection of an equity committed several weeks ago.

Anyone still holding equity in this company really only has themselves to blame for the final loss. They had almost unlimited opportunities to sell and at least get something of their investment back.

Renee

02/28/17 5:26 PM

Post #146

Re: #144: @1manband - I"ll wager ten to one its a republican

LINEQ Bankruptcy PLAN effective. All shares cancelled. Note: Volume today was over 6 million with a closing PPS of .096 cents. All of that is now vaporized.

http://otce.finra.org/DLDeletions

1manband

02/21/17 2:02 PM

Post #144

Re: #143: @roadtoad256 - I"ll wager ten to one its a republican

I"ll wager ten to one its a republican judge eager to steal the investors money

That is ridiculous. The bankruptcy judge is following Federal Law to the letter. And he is not "stealing" anything.

As the Judge stated in his recent letter to regarding his denial of the equity committee, the common equity holders lost all value a long time ago. A quick look at the financial statements make that very clear. Equity holders are always last in line for the assets. They only get what is left after all debtors and creditors receive 100% of what they are owed. And in this case, they are hundreds of millions of dollar short of what is owed.

The bankruptcy plan has been approved and is close to completion. The equity will be permanently cancelled very shortly, and it could occur at any time.

roadtoad256 Free

02/21/17 9:57 AM

Post #143

Re: #140: @lilcaesarlv - 1 / 2

I"ll wager ten to one its a republican judge eager to steal the investors money.IMHO

7777777777 Free

02/20/17 10:25 AM

Post #142

Re: #141: @1manband - No surprise at all. The equity is worthless

Oh Ye of little faith.
Miracles DO happen.
smile

1manband

02/18/17 2:47 PM

Post #141

Re: #140: @lilcaesarlv - 1 / 2

No surprise at all. The equity is worthless and all existing common units will be cancelled. Soon.

The price is going to zero. Guaranteed. Why the units are still trading for as much as they are defies understanding. And why anyone would still be holding their equity and not selling and getting whatever they can is also baffling.

lilcaesarlv Free

02/18/17 2:34 PM

Post #140

Re: #139: @Havefaith - The under evaluation of their stocks to the

1 / 2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE SOUTHERN DISTRICT OF TEXAS
VICTORIA DIVISION
IN RE: §
§ Case No. 16-60040
LINN ENERGY, LLC, et al., § Chapter 11
§ (Jointly Administered)
Debtors. § David R. Jones
ORDER
(Docket Nos. 1408, 1608, 1609 and 1617)
On December 22, 2016, Laurie and Douglas Moga submitted a typed letter requesting the
appointment of “an Equity Holder Committee” to “object to the Plan of Reorganization for many
reasons.” [Docket No. 1408]. Several other letters were received by the Court just prior to the
confirmation hearing echoing the request [Docket Nos. 1608, 1609, 1617]. The central theme
advanced in support of the request is that the debtor’s assets are significantly undervalued. Mr.
and Ms. Moga also point to other smaller chapter 11 cases within this district in which equity
committees were appointed as support for the notion that an equity committee should be
appointed in this case.
As the parties are aware, the Court has previously confirmed an amended plan negotiated
amongst the various creditor constituencies. Although plan confirmation rendered the request
for an equity committee moot, the Court believes that the shareholders that took the time to write
a letter to the Court expressing their concerns deserve an answer.
The appointment of an equity committee is the exception and not the rule. At a
minimum, a party seeking the appointment of an equity committee must produce some evidence
that a possibility exists that equity is entitled to a distribution in the case or that the interests of
justice are served by the appointment of an equity committee. Based on the evidence submitted
to the Court in this case, no scenario exists that places equity “in the money” or that additional
oversight of the process is required. The plan approved by the Court resulted in creditors
receiving far less than one hundred percent of their legitimate claims. To add another layer of
administrative costs to the case would serve as an injustice to all creditors.
The Court is keenly aware that shareholders feel betrayed with the cancellation of their
shares. The Court has read each and every letter submitted by shareholders in this case. Even
the letters that condemn the Court are placed on the public docket for all eternity. The integrity
of the bankruptcy process demands this transparency. While some of the letters received by the
Court are critical the American bankruptcy system, the Court has experience in other
jurisdictions and finds our system to have no equal in the world. The bankruptcy case filed by
Linn Energy and its affiliates did not cause the loss of shareholder value; rather, the bankruptcy
process simply forced recognition that a loss had already occurred.
ENTERED
02/08/2017
Case 16-60040 Document 1673 Filed in TXSB on 02/07/17 Page 1 of 2
2 / 2
The foregoing words will offer little solace to those investors whose shares were lost. The
Court can only offer its observation that the professionals involved on behalf of the parties in the
case were second to none and that the legal battles throughout the case were vigorous and
exhaustive. If value existed, the Court is confident that it would have surfaced in the process.
For the foregoing reasons, the request for an equity committee is denied.
SIGNED: February 7, 2017.
___________________________________
DAVID R. JONES
UNITED STATES BANKRUPTCY JUDGE
Case 16-60040 Document 1673 Filed in TXSB on 02/07/17 Page 2 of 2

Havefaith

02/03/17 9:32 AM

Post #139

The under evaluation of their stocks to the sum of $4 Billion dollars is deserving of investigation by a committee. It ain't over until the fat lady sings. The media is slowly waking up to this intentional pillage of the stock holders.

1manband

02/02/17 8:40 PM

Post #138

Re: #137: @Havefaith - This is why people invested in this stock.

The judge will have to appoint a special committee to re evaluate the true assets valued today.

No, he doesn't. That is not how bankruptcy laws work. And the Judge didn't, since the Bankruptcy Plan was confirmed. It will all be over within the next 30 days.

I sympathize with the common unit holders that lost here, but there is really nothing unusual about this bankruptcy. Common equity always comes in last. On the other hand, if the Judge somehow puts the brakes on the already approved Plan, that would be unusual. Very unusual. And highly unlikely.

Traders are now really just playing a game of musical chairs with mostly imaginary chairs. When the music stops sometime in the next 30 days, without any additional advance notice, the stock will immediately go to zero with little opportunity for people to get anything of value for their remaining equity units.

Havefaith

02/02/17 1:57 PM

Post #137

This is why people invested in this stock. The judge will have to appoint a special committee to re evaluate the true assets valued today. The Permian basin news recently has proven that they are sitting on billions. Please read this investment article.
https://www.fool.com/investing/general/2014/02/19/1-more-sign-that-linn-energy-llc-is-hiding-somethi.aspx

1manband

01/31/17 2:48 PM

Post #136

It is over. The common units are worthless, as the bankruptcy has been confirmed and all existing equity is to be cancelled.

"Pursuant to the Plan, each of the Company’s units outstanding immediately before the Effective Date (including any options and warrants to purchase such units) will be cancelled and of no further force or effect after the Effective Date."

https://www.sec.gov/Archives/edgar/data/1326428/000119312517023984/d290546d8k.htm

It is difficult to believe the units are still trading for 11 cents when they will be worthless shortly (within 30 days, most likely). Consider it a gift to anyone still holding units, as it gives them a chance to bail out before it goes to zero.

cents2ks

01/28/17 7:05 PM

Post #135

Re: #134: @thespaniard2 - http://www.prnewswire.com/news-releases/linn-energy-shareholders-object-to-reorg

Who paid for and put out that BS PR?

A plan was confirmed. It's OVER.

thespaniard2 Free

01/26/17 10:29 AM

Post #134

http://www.prnewswire.com/news-releases/linn-energy-shareholders-object-to-reorganization-plan-believe-shareholders-equity-being-understated-by-47-billion-300395166.html

1manband

01/09/17 8:47 PM

Post #133

Re: #132: @Joseph103 - Any chance this will go up?

Any chance this will go up?

Since the Bankruptcy Plan, which is almost certain to receive final approval as is, will cancel the common equity without any payment to holders, no. No real chance at all. There is simply no money to provide the equity holders with anything.

Joseph103

01/09/17 8:39 PM

Post #132

Any chance this will go up?

thespaniard2 Free

12/28/16 8:22 AM

Post #131

ATTN:$LINEQ Unit holders $LNCOQ Shareholders. News http://www.nasdaq.com/article/linn-energy-equity-holders-seek-representation-20161227-00288

thespaniard2 Free

12/27/16 8:44 AM

Post #129

ATTN:$LINEQ Unit holders $LNCOQ Shareholders. Check out Docket# 1408 https://cases.primeclerk.com/linn/Home-DocketInfo. Get involved shareholders write a letter to this judge. He understands that a shareholder committee is needed in this case. $UPLMQ shareholders got over 40% of the company.

1manband

12/13/16 3:28 PM

Post #128

Re: #127: @thespaniard2 - ATTN:$LINEQ Unit holders $LNCOQ Shareholders. We need to

I wish you luck, but it is not likely you will be successful. And even if you somehow convince the Judge the equity holders deserve an Equity Committee, there just isn't enough assets in LINEQ to even come close to making the creditors whole. Equity holders only get what is left after debtors and creditors are paid 100% of what they are owed, and that isn't going to happen under the current Plan, or any other realistic plan, which is why Equity Unit Holders are not included since they are going to lose 100% of their investment and are automatically deemed to reject the Plan.

thespaniard2 Free

12/12/16 11:27 AM

Post #127

ATTN:$LINEQ Unit holders $LNCOQ Shareholders. We need to be at the Bankrupcy Table. If interested drop me your contact info and number of units/share you own at "vidal.g@verizon.net" Look me up at the https://cases.primeclerk.com/linn/Home-DocketInfo and search Docket #1190 send similar letter to court.

1manband

12/08/16 11:56 PM

Post #126

Re: #125: @Advice_Needed - Agreed. Have to admit when I'm wrong. I

The hearing to approve the disclosure statement was held on December 8th. The objection deadline and voting record date have past. The Plan is expected to be sent to debtors and creditors and the voting deadline is the 12th of January. The confirmation hearing date is January 24th. The LINEQ units are expected to be cancelled at that time, and the ticker will be deleted by FINRA shortly thereafter.

"On the Effective Date, existing Interests in LINN and LinnCo shall be deemed canceled, discharged, released, and extinguished, and there shall be no distribution to Holders of Interests in LINN and LinnCo on account of such Interests"

https://cases.primeclerk.com/linn/Home-DocketInfo?DocAttribute=2789&DocAttrName=PlanDisclosureStatementDocAttribute=2730&DocAttrName=PLANDISCLOSURESTATEMENT

Advice_Needed Free

12/07/16 6:10 PM

Post #125

Re: #123: @1manband - So if I were to buy today and

Agreed. Have to admit when I'm wrong. I thought this had a chance at recovery with rising prices...but being linn hasn't created an equity committee and proposed a change to reorganization plan by now says they will be completely gone and all common shares with them by early next year.

KncWitt

12/07/16 1:31 AM

Post #124

Re: #123: @1manband - So if I were to buy today and

Thank you for the detailed answer!

1manband

12/06/16 11:00 PM

Post #123

Re: #121: @KncWitt - So if I were to buy today and

So if I were to buy today and oil continues to rally that theres no way they could get out of debt/bankruptcy and the shares are destined to be worthless?

Almost certainly that is correct.

If the price of oil was rising and cash flow improved enough to cover the massive debt obligations before the bankruptcy was filed, there would have been a chance. But once the bankruptcy was filed, and the Plan of Reorganization filed with the Court, the opportunity for any payment to common shareholders has passed.

The prices of oil and gas have risen slightly, but are still far below what Linn would need under its old capital structure to meet is obligations. However, it will help the new Linn Energy and bring greater confidence to the Reorganization Plan, which is reliant upon the sale of $530 million in new common stock to help partially pay off the old debtors and creditors. It also may help the unsecured creditors get more of what they are owed, as they are only going to be repaid a portion of their outstanding claims.

I suggest you read the Court Filings, especially the amended Plan of Reorganization. Or, at least read the SEC filings, in particular the most recent 10-Q, which contains a summary of the Plan, including the all important statement:

"All existing equity interests of the Company will be extinguished without recovery"

https://www.sec.gov/Archives/edgar/data/1326428/000132642816000092/line930201610q.htm

KncWitt

12/02/16 7:13 PM

Post #121

Re: #120: @1manband - Talk of buyout, but maybe not if oil

So if I were to buy today and oil continues to rally that theres no way they could get out of debt/bankruptcy and the shares are destined to be worthless?

1manband

12/02/16 2:50 PM

Post #120

Re: #119: @KncWitt - I agree, did a job for them couple

Talk of buyout, but maybe not if oil continues to rise

There is no buyout, nor can there be since the Company is bankrupt and in Federal Bankruptcy Court. Someone could acquire every single currently issued unit and it would make zero difference. They are being cancelled and it doesn't matter who owns them.

The Company and its operations will continue as normal, but under new owners. The old unit holders are being wiped out under the Plan of Reorganization. And even if oil rose to $70 a barrel it would be too little, too late. The creditors have a deal to take control of the Company, and the most recent SEC filing makes it clear the equity will be wiped out without payment.

KncWitt

12/01/16 8:48 PM

Post #119

Re: #118: @stocktrademan - LINEQ bullish 0.20

I agree, did a job for them couple weeks ago. Talk of buyout, but maybe not if oil continues to rise! Booolish

stocktrademan Free

12/01/16 10:39 AM

Post #118

Re: #117: @stocktrademan - LINEQ bullish 0.181

LINEQ bullish 0.20

normal chart

log chart

stocktrademan Free

11/30/16 9:52 AM

Post #117

Re: #112: @stocktrademan - LINEQ bullish 0.18

LINEQ bullish 0.181

normal chart

log chart

Advice_Needed Free

11/22/16 1:51 PM

Post #116

I still think LINN can pull out of this without erasing common stock.
Quote: "Linn Energy saw a net loss of over $1.3 billion in the first quarter to a net income of more than $208 million in the second - a nearly $1.6 billion improvement."
The 3rd quarter was even better! This is what happens when the price of oil averages $47 rather than $35 and the price of natural gas is $2.50 per MCF rather than $2.

1manband

11/18/16 11:09 AM

Post #115

Re: #114: @7777777777 - I remember when the same thing was said

This is not AMR. AMR NEVER once said they were going to cancel the common shares. Linn, on the other hand, not only says they are cancelling the units, it is in the Bankruptcy Plan which was just approved by the Judge. It is well on its way to termination.

"All existing equity interests of the Company will be extinguished without recovery"

https://www.sec.gov/Archives/edgar/data/1326428/000132642816000092/line930201610q.htm.";

7777777777 Free

11/18/16 9:50 AM

Post #114

Re: #113: @1manband - Bullish? The stock is being cancelled by the

I remember when the same thing was said about American Airlines. smile And you see how that turned out smile

1manband

11/17/16 8:07 PM

Post #113

Re: #112: @stocktrademan - LINEQ bullish 0.18

Bullish? The stock is being cancelled by the bankruptcy court under the Plan of Arrangement.

It is going to be worth ZERO soon.

https://cases.primeclerk.com/linn/Home-DocketInfo

stocktrademan Free

11/17/16 7:55 PM

Post #112

LINEQ bullish 0.18

normal chart

log chart

HokieHead

11/16/16 10:20 AM

Post #111

Q going back to $2+

Advice_Needed Free

11/15/16 9:20 AM

Post #110

Re: #108: @1manband - I thought this thing would jump 4 cents

http://bankruptcompanynews.com/linn-energy-bankru.comptcy-11-15-16/

1manband

11/04/16 6:12 PM

Post #108

Re: #106: @Advice_Needed - I thought this thing would jump 4 cents

I thought this thing would jump 4 cents on the 10-q

Why in the world would it do that? If people can read the 10-Q financials, certainly they can read the multiple times where the Company tells them OVER AND OVER in the 10-Q that the units are going to be cancelled without payment.

Ridiculous.

FROZENFLAME Free

11/04/16 5:58 PM

Post #107

Re: #106: @Advice_Needed - I thought this thing would jump 4 cents

Not on Friday people sell for weekend money maybe next week.

Advice_Needed Free

11/04/16 1:05 PM

Post #106

Re: #105: @freshy - My thoughts exactly... possible sympathy play...crap it was

I thought this thing would jump 4 cents on the 10-q...they've obviously cut down on a lot of debt over the past year.

freshy

11/03/16 7:53 PM

Post #105

Re: #97: @Advice_Needed - SARAQ...i think linn will do the same thing

My thoughts exactly... possible sympathy play...crap it was up to .44 recently...jeezus

1manband

11/03/16 4:43 PM

Post #104

Re: #103: @Advice_Needed - Well...if any of us could tell the future...we

Except that creditors take that kind of loss all the time in bankruptcies. Nothing unusual at all about LINEQ bankruptcy. And they will have plenty of opportunity to recoup their losses over time, as they are getting 100% of the new equity.

Most of the creditors have already approved the Bankruptcy Plan, so they are clearly satisfied with it. Even the Company is warning you over and over the units are going to be cancelled and almost certainly there will be no recover for unit holders. And even if there is some kind of recovery, it will be of minimal value. Read the 10-Q filed today.

https://www.sec.gov/Archives/edgar/data/1326428/000132642816000092/line930201610q.htm

The current trading price of the bonds is a good indication that there will be no recovery for unit holders.

Advice_Needed Free

11/03/16 4:39 PM

Post #103

Re: #102: @1manband - Agree they worth more a life than dead

Well...if any of us could tell the future...we would all be billionaires. I disagree with you and say the creditors are not going to take that kind of loss without exhausting every other avenue. I'm still predicting a year extension and a good chance of pulling out of chapter 11.

1manband

11/03/16 4:13 PM

Post #102

Re: #101: @FROZENFLAME - Agree they worth more a life than dead .

Agree they worth more a life than dead

Linn is not dying. The company will continue after the Bankruptcy Plan is approved. Business-wise, nothing changes. The difference is that it will be owned 100% by current creditors, and old unit holders are getting wiped out.

That is how Chapter 11 Bankruptcy works. Old holders get nothing because there is no money or assets to give them. Common equity is LAST in line, and only get what is left after all debtors and creditors are paid in full what they are owed. Linn is billions short of being able to do that, which is why current unit holders are being wiped out.

The 10-Q filed this afternoon is very clear:

"All existing equity interests of the Company will be extinguished without recovery."

https://www.sec.gov/Archives/edgar/data/1326428/000132642816000092/line930201610q.htm

FROZENFLAME Free

11/03/16 4:11 PM

Post #101

Re: #99: @Advice_Needed - It will change...there will be an extension to

Agree they worth more a life than dead .

1manband

11/03/16 4:03 PM

Post #100

Re: #99: @Advice_Needed - It will change...there will be an extension to

It is unlikely to change. The chances of unit holders getting anything in bankruptcy, much less anything near the current trading price, is extremely slim.

And there will be no "legal battles". That is what bankruptcy courts do and is their primary purpose. All will be settled within months, as the creditors will make sure it gets done sooner rather than later.

Advice_Needed Free

11/03/16 3:31 PM

Post #99

Re: #98: @1manband - Linn will not be around in 1 year.

It will change...there will be an extension to let the restructuring plan take hold. Also, i wont be surprised if they form an equity committee in the next month to help move that plan along. Nobody wants to see a company that is 7 billion dollars in debt with 4 billion in assets go under...not only would banks and creditors have to eat the extra 3 billion...that they cant afford to do...but they know the 4 billion obtained from selling off assets would be tied up in legal battles to see who gets it for years. The only way this goes under is if oil goes back to 30 bucks a barrel.

Older

LINN Energy (fka LINEQ)

Followers	5	Posters	42
Posts (Today)	0	Posts (Total)	152
Created	07/03/16	Type	Free
Moderators

LINN ENERGY

Board Info

Posts Today	0
Posts (Total)	152
Posters	42
Moderators

New Post

Volume
Day Range:
Bid Price
Ask Price
Last Trade Time:

Boards:

Quotes:

Boards

News

Market Data

Markets

Discover

Discover

Boards:

Quotes:

LINN Energy (fka LINEQ)

LINN Energy (fka LINEQ)

Join the InvestorsHub Community

LINN Energy (fka LINEQ)

Board Info