Operational Updates
LINN Energy Shifs Capital Spending to Hogshooter Zone
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LINN Energy, LLC (Nasdaq:LINE) announced today financial and operating results for the three months ended June 30, 2012, and the company's outlook for the remainder of 2012.
LINN Energy reported the following significant second-quarter 2012 results:
Increased average daily production 76 percent to 630 MMcfe/d, compared to 358 MMcfe/d for the second-quarter 2011 Increased Adjusted EBITDA 21 percent to $319 million, compared to $264 million for the second-quarter 2011 Reduced lease operating expenses 29 percent to $1.22 per Mcfe, compared to $1.73 per Mcfe for the second-quarter 2011 Completed three Hogshooter wells, with average initial production rates of approximately 2,500 Bbls/d of oil, 500 Bbls/d of NGLs and 3 MMcf/d of natural gas per well Distribution coverage ratio of 0.97x, due…Finish this article — free account or subscription
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