Roan Resources Inc. (ROAN)

[benfrankledger]

$LNGG - Linn Energy (OTCQB:LNGG +2.3%) is higher after unveiling a plan to split into two new companies later this year under new leadership.
Riviera Resources will oversee Linn's east Texas, Louisiana, Midwest and Mid-Continent oil and gas assets, as well as the Blue Mountain Midstream pipeline subsidiary, under the RVRA ticker.

Linn's primary assets in Oklahoma will stay under Linn as the company converts into Roan Resources, with ROAN ticker and plans to trade on the NYSE or Nasdaq later this year.

Linn CFO David Rottino, who joined the company in 2015, will become Riviera's CEO, and former EOG Resources executive Tony Maranto will take over as Roan's CEO; Mark Ellis, Linn’s current President and CEO, will retire along with much of the company's current top management.

LNGG shareholders ultimately would receive one share in each of the two new companies.