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2Q 2017 Investor Presentation – Linn Energy, Llc

Linn Energy, Llc · Aug 3, 2017 · 11 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2Q 2017 Investor Presentation – Linn Energy, Llc – slide 1
    Second Quarter 2017 Earnings Supplemental Presentation
  2. 2Q 2017 Investor Presentation – Linn Energy, Llc – slide 2
    Recent Highlights Signed an agreement to form Roan Resources LLC as a Merge/SCOOP/STACK pure play company with a core, largely contiguous position of approximately 140,000 tier 1 total net acres Successfully tested third bench in the…
  3. 2Q 2017 Investor Presentation – Linn Energy, Llc – slide 3
    Overview of LINNs Assets Mid-Continent Growth Roan Resources Signed a contribution agreement to form a Williston Merge/SCOOP/STACK pure play company 140,000 total net acres with LINN & Citizen each contributing 70,000 net acres to…
  4. 2Q 2017 Investor Presentation – Linn Energy, Llc – slide 4
    Asset Sale Update Williston California Jonah Sale Salt Creek Sale South Belridge Sale 560 million 76 million 257 million Jonah Salt Creek California South Texas Sales Permian Acreage Altamont Bluebell Brea Sale Estimate Sales…
  5. 2Q 2017 Investor Presentation – Linn Energy, Llc – slide 5
    2017 Capital Allocation Total Capital budget reduced from 413 million to 338 million (1) Sold Assets (3) Other / Administrative 16 11 99 Remaining Chisholm O&G Assets (1) 98 Trail Midstream Roan AMI 43 71 Leasing Oil &…
  6. 2Q 2017 Investor Presentation – Linn Energy, Llc – slide 6
    FY 2017 Capital Estimate Bridge ( in millions) Previous Current Assuming Excluding Guidance Guidance closed & pending Chisholm Trail transactions Midstream excluded 1/1/17 Capital Pro forma Estimates 413 (44) (71) 22 (16) 338…
  7. 2Q 2017 Investor Presentation – Linn Energy, Llc – slide 7
    FY 2017 EBITDAX Estimate Bridge Prior Adjusted Current Assuming Guidance Prior Guidance closed & pending Guidance transactions excluded 1/1/17 500 Pro forma 496 (54) Estimates 450 400 (105) 350 25 (2) 360 337 (98) 300 35…
  8. 2Q 2017 Investor Presentation – Linn Energy, Llc – slide 8
    Debt Reduction ( in millions) California - Share Pro Forma Free Cash California - South South Permian Repurchase Free Cash Cash Total Debt Jonah Permian Salt Creek Flow Net Debt Brea Belridge Texas Acreage through Flow / Balance…
  9. 2Q 2017 Investor Presentation – Linn Energy, Llc – slide 9
    Corporate Structure Legal Entity LINN Energy, Inc. Equity LINN Energy Asset Holdco LLC LINN Energy Holdco II LLC LINN Energy LINN Operating, LINN Marketing, Blue Mountain Holdings, LLC LLC LLC Midstream LLC LINN…
  10. 2Q 2017 Investor Presentation – Linn Energy, Llc – slide 10
    Capital Structure Update Common As of June 30, 2017 Equity Approximately 89.2 million shares issued and outstanding (1) Senior Finalizing negotiations on a new credit facility Revolving The new facility is expected to have an…
  11. 2Q 2017 Investor Presentation – Linn Energy, Llc – slide 11
    Commodity Hedge Portfolio Natural Gas Positions Oil Positions 400 370 14,000 350 12,000 12,000 300 Volume (MMMBtu/d) Volume (Bbls/d) 10,000 250 3.17 8,000 200 6,500 6,000 150 131 5,000 3.01 50.00- 100 4,000…

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