Exploration & Production | Operational Updates
LINN Energy Announces Fourth Quarter and Full-Year 2011 Results and 2012 Outlook
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LINN Energy, LLC (Nasdaq:LINE) announced today financial and operating results for the fourth quarter and year-ended Dec. 31, 2011, and its outlook for 2012.
The company reported the following fourth quarter and full-year 2011 results:
Increased average daily production 38 percent to 425 MMcfe/d for the fourth quarter 2011, compared to 307 MMcfe/d for the fourth quarter 2010; and 39 percent to 369 MMcfe/d for the full year 2011, compared to 265 MMcfe/d in 2010;Increased adjusted EBITDA 27 percent to $281 million for the fourth quarter 2011, compared to $221 million for the fourth quarter 2010; and 36 percent to $998 million for the full year, compared to $732 million in 2010;
Achieved a distribution coverage ratio of 1.36x for the fourth quarter 2011, compared to 1.34x for the…
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