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SUPPLEMENTAL Q1 2014 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc

Linn Energy, Llc · May 1, 2014 · 11 slides

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Slides

  1. SUPPLEMENTAL Q1 2014 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 1
    Supplemental Q1 2014 Financial and Operational Results May 1, 2014
  2. SUPPLEMENTAL Q1 2014 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 2
    Commodity Hedge Positions Natural Gas Positions 600 550 4.48 4.48 500 5.12 5.14 5.00 450 5.00 4.88 Volumes (MMcf/d) 400 5.00 35% 34% 34% 36% 350 41% 300 250 200 5.19 4.20 4.26 150 5.25 5.00 100 50 - Apr-Dec…
  3. SUPPLEMENTAL Q1 2014 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 3
    Excess (Shortfall) of Net Cash (1) Three Months Ended March 31, 2014 2013 (in thousands) Net cash provided by operating activities 434,482 334,594 Distributions to unitholders (240,073) (170,954) Excess of net cash provided by…
  4. SUPPLEMENTAL Q1 2014 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 4
    Statements of Operations Three Months Ended March 31, 2014 2013 (Unaudited) (in thousands, except per unit amounts) Revenues and other: Oil, natural gas and natural gas liquids sales 938,877 462,732 Losses on oil and natural gas…
  5. SUPPLEMENTAL Q1 2014 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 5
    Operating Statistics Three Months Ended March 31, 2014 2013 Average daily production Natural gas (MMcf/d) 481 443 Oil (MBbls/d) 71.2 30.1 NGL (MBbls/d) 32.5 28.7 Total (MMcfe/d) 1,104 796 Weighted average prices: (1) Natural…
  6. SUPPLEMENTAL Q1 2014 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 6
    Additional Financial Data Selected Balance Sheet Data March 31, December 31, 2014 2013 (Unaudited) (in thousands) Assets: Total current assets 798,505 815,940 Oil and natural gas properties, net 14,495,037 14,342,275 Other…
  7. SUPPLEMENTAL Q1 2014 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 7
    Guidance Table Q2 2014E FY 2014E Net Production (1) Natural gas (MMcf/d) 481 - 497 481 - 509 Oil (Bbls/d) 69,180 - 71,430 69,530 - 73,390 NGL (Bbls/d) 29,770 - 30,740 29,450 - 31,090 Total (MMcfe/d) 1,075 - 1,110 1,075 - 1,135…
  8. SUPPLEMENTAL Q1 2014 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 8
    Guidance Table (Continued) Commodity Hedge Positions Q2 2014E Q2 - Q4 2014E Natural gas positions: Fixed price swaps (NYMEX Henry Hub): Hedged volume (MMMBtu) 24,283 73,384 Average price (/MMBtu) 5.25 5.25 Put options (NYMEX Henry…
  9. SUPPLEMENTAL Q1 2014 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 9
    Guidance Table (Continued) Commodity Hedge Positions Q2 2014E Q2 - Q4 2014E Natural gas basis differential positions: (1) Panhandle basis swaps: Hedged volume (MMMBtu) 19,793 59,813 Hedged differential (/MMBtu) (0.33) (0.33) NWPL…
  10. SUPPLEMENTAL Q1 2014 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 10
    Commodity Hedge Portfolio April 1 - December 31, 2014 2015 2016 2017 2018 Natural gas positions: Fixed price swaps (NYMEX Henry Hub): Hedged volume (MMMBtu) 73,384 118,041 121,841 120,122 36,500 Average price (/MMBtu) 5.25 5.19 4.20…
  11. SUPPLEMENTAL Q1 2014 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 11
    Commodity Hedge Portfolio (Continued) April 1 - December 31, 2014 2015 2016 2017 2018 N t iti differential positions: (1) l gas basis Natural Panhandle basis swaps: Hedged volume (MMMBtu) 59,813 87,162 59,954 59,138 16,425 Hedged…

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