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LINN to Separate into Three Standalone Companies

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LINN has unveiled a plan to separate into three standalone companies by mid-2018.

The Board and management continue to evaluate strategic opportunities with the objective of increasing shareholder value and today announce the intention to separate LINN into three standalone companies by mid-year 2018 as outlined below:

• LINN Energy, Inc., which currently trades on the OTCQB market under the ticker LNGG, will serve as a holding company solely for the existing 50 percent equity interest of Roan and would prepare to up list on either the NYSE or NASDAQ in 2018. Separately, the Company is in talks with Citizen Energy II, LLC to consolidate 100% of the equity in Roan into LNGG.

• The Board has commenced a review of strategic alternatives for Blue Mountain Midstream LLC which include, among other things, hiring a separate management team, establishing an independent capital structure, pursuing independent third party acreage dedication and exploring potential strategic investments and/or a separate public listing independent from LNGG.

• The Company will continue to strategically divest non-core assets and the assets remaining at the time of the separation are expected to be contributed to a newly formed public company in a tax efficient manner. The ultimate strategy of this company, and the assets it will hold, is yet to be determined. It is expected that it will be un-levered, generate significant positive free cash flow and will have a focus on returning capital to shareholders.

Roan Resources Update:

Roan Resources LLC is a newly formed company focused on the accelerated development of more than 150,000 net acres in the prolific Merge/SCOOP/STACK play of Oklahoma. Tony Maranto, recently appointed as Roan's President and Chief Executive Officer, has been building his new management team and is pleased to announce the addition of two executive officers. It is anticipated that the new Roan management team will begin to assume operations from LINN and Citizen on January 1, 2018.

New Hires at Roan

• Joel Pettit joins as Executive Vice President and will be responsible for operations and marketing. Joel brings more than 38 years of experience including 22 years at Pennzoil in a variety of technical roles and the past 11 years at EOG Resources, Inc., where he served as Operations Manager of both the Midland Division and Oklahoma City Division.

• Greg Condray joins as Executive Vice President and will be responsible for geoscience and business development. Greg has over 8 years of experience with Chesapeake Energy Corp where he was responsible for the exploration of their Eagleford shale play and the development of their Haynesville and Powder River Basin assets. In 2013, he joined EOG Resources, Inc. and was instrumental in assembling its position in the Merge area of Oklahoma.