Recent Highlights 1Q 2017 Highlights Successfully emerged from restructuring and reduced debt to 834 million as of March 31, 2017 Entered into an agreement to sell the Jonah and Pinedale assets in Wyoming for 581.5 million Commenced…
Overview of LINNs Assets As of year end 2016 unless otherwise noted Mid-Continent Core Growth Merge / NW STACK / STACK / SCOOP Exposure across the entirety of this premier U.S. Williston onshore resource play includes significant…
LINN Asset Detail As of year end 2016 unless otherwise noted Proved Proved Developed (2&4) Proved Developed (3&4) Production( 1) Primary Net Acres Developed (2) SEC Pricing PV-10 Strip Pricing PV-10 Operatorship (MMcfe/d) Commodity…
Corporate Strategy UPSTREAM ACCELERATE DEVELOP TEST HORIZONTAL GROWTH DIVEST DE-RISK MERGE MERGE POTENTIAL MLP NON-CORE HORIZONTAL NW STACK NLA / ETX E&P MIDSTREAM ASSETS POSITION ARKOMA PROGRAM BUSINESS ROCKIES…
Net Asset Value Upside Value 2.6+ million net acres Significant additional Inventory that benefits majority HBP with exposure to inventory at higher from technology and cost + Additional Upside future stacked pay commodity prices…
2017 Capital Allocation 57% of total 2017 budgeted capital is allocated to the Merge 234 million in the Merge 413 million of Total Capital 11 34 95 100 165 40 100 102 Horizontal Development Horizontal Development…
Asset Sale Update California Williston Jonah Sale South Belridge Sale 581.5 million 263 million Jonah Salt Creek California Salt Creek Sale California Brea Sale 71.5 million 100 million(3) Expects to extinguish Permian…
Top tier position across SCOOP / STACK / Merge 185,000 total net acres NW STACK 96%+ HBP provides optionality for development pace STACK Concentrated core position in the Merge Significant and consolidated Merge opportunity…
Merge Premier acreage position with strong recent results LINN Acreage 53,000 net acres Canadian Key targets are Mississippi, Woodford and Hunton Chisholm Trail Running 2 rigs in 2017 with plans for 25 gross wells Plant More…
Merge Core Growth Asset Significant production growth on the horizon assuming 2 rig drilling program Flexibility to add rigs quickly MERGE AVG DAILY PRODUCTION (MBOE/D) 20 16.7 15 10 8.0 6.7 5 0 YE 2016 Exit…
Chisholm Trail Midstream Building a Premier Midstream Business in the Merge Merge Midstream Infrastructure Construction has been approved on a cryogenic plant with a capacity of 250 MMcf/d when fully operational BCCK Engineering,…
Debt Reduction Expected to extinguish all debt pro forma for the announced transactions 8,445 Debt Reduction Contributors 8,000 Berry Separation 1,707 7,000 6,738 Equitize Second Lien / Unsecured Notes 4,023 3,857 6,000 Hedge…
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