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Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc

Linn Energy, Inc · Feb 13, 2018 · 18 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. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 1
    Credit Suisse 2018 23rd Annual Energy Summit
  2. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 2
    Recent Highlights Executed on the plan to sell non-core assets, eliminate all debt and evaluate strategic alternatives for all assets Formed a Merge/SCOOP/STACK pure play company Commenced construction on a Merge midstream business…
  3. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 3
    Strategic Update Proposed Separation Into Three Standalone Companies By Mid-2018 LNGG Roan Resources LLC New Blue Mountain Midstream LLC 50% Equity Interest Company Merge/SCOOP/STACK Chisholm Trail Remaining Assets Pure…
  4. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 4
    Overview of LINNs Assets Roan Resources LLC Merge/SCOOP/STACK pure play company LINN holds 50% of the equity interest Current net production of 40,800 BOE/d Plan to separate LINN into Field level cash margin of 22.00 - 22.50 per…
  5. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 5
    Asset Sales Update Williston Jonah More than 1.8 billion of closed or Salt Creek pending asset sales Altamont Bluebell Washakie Drunkards Wash ACTIVE Drunkards Wash TX Panhandle* Oklahoma SALES Remaining Permian Waterfloods*…
  6. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 6
    Roan Resources Focused on the accelerated development of the prolific Merge/SCOOP/STACK play LINN & Citizen sign a Contribution Agreement to form a Merge/SCOOP/STACK pure play company Each receive 50% of the equity interest…
  7. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 7
    Roan Resources Strong Offset Results Increase Growth Potential MRO Alta Mesa STACK Meramec STACK Oil Window Volatile oil wells continue Meramac / Osage to outperform 6 Active Rigs XEC EOG Lone Rock Play Eastern Anadarko…
  8. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 8
    Roan Resources Significant Activity in the Merge Roan Activity 6 Active horizontal drilling rigs 19 New wells online in 4Q 1,870 BOE/d Normalized Avg Peak IP-30(1&2) 80% 73% Avg Working Avg Liquids%(2) Interest…
  9. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 9
    Chisholm Trail Midstream Primary growth asset of Blue Mountain Midstream LLC Cryogenic plant with a capacity of 250 MMcf/d under construction and expected to be commissioned in the second quarter of 2018 LINN signed agreements…
  10. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 10
    NW STACK Asset Highlights NW STACK Majority operated position of 105,000 net acres that is 99%+ held by production is retained by LINN Net Production of 15 MMcfe/d(1) Significant and consolidated opportunity in the emerging…
  11. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 11
    North Louisiana & East Texas Asset Highlights Lassater Lisbon Pettit Net Production of 81 MMcfe/D(1) Waterflood Rocky Targeting Upper and Lower Red horizontals in Mount Ruston the Ruston field of North Louisiana Calhoun Targeting…
  12. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 12
    Arkoma Asset Highlights NFX Ellis 2H-34XX Net Production of 26 MMcfe/d(1) Woodford (80% Natural Gas, 20% NGL) 30-day Peak: 13.1 MMcf/d Base decline of approximately 9% Approximately 450 producing wells (195 Operated) NFX Ellis…
  13. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 13
    Hugoton Asset Highlights Net Production of 152 MMcfe/d(1) (64% Natural Gas, 35% NGL) Approximately 6,500 producing wells (Majority Operated) 1.1 million net acres that are 99%+ held by production(2) Jayhawk Plant Very mature, low…
  14. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 14
    Michigan / Illinois Asset Highlights Net Production of 29 MMcfe/d(1) (97% Natural Gas, 3% Oil) Approximately 2,200 producing wells (1,700 Operated) Base decline of approximately 4% Approximately 200,000 net acres Michigan is a low…
  15. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 15
    Updated Fourth Quarter Guidance Fourth Quarter 2017E Previous Guidance Updated Guidance Net Production (MMcfe/d) 472 507 496 512 Natural gas (MMcf/d) 300 324 315 325 Oil (Bbls/d) 12,400 13,200 12,800 13,200 NGL (Bbls/d) 16,300…
  16. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 16
    Tender Offer TENDER OFFER TO PURCHASE SHARES 325 million Purchase Price 48.00 per share 6,770,833 SHARES 94% Participation Closing price per share on January 5, 2018 CLASS A 8.1% COMMON STOCK of companys current…
  17. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 17
    Share Repurchase and Tender Offer As of January 31, 2018 12 million total shares repurchased 14% of all shares issued at emergence 202 million remain under the current 400 million authorization 600 523 million 500 400 325…
  18. Credit Suisse 23rd Annual Energy Summit – Linn Energy, Inc – slide 18
    Commodity Hedge Portfolio Natural Gas Positions Oil Positions 400 14,000 350 340 12,000 12,000 300 10,000 Volume (MMMBtu/d) 250 Volume (Bbls/d) 3.18 8,000 3.17 200 191 6,500 3.18 6,000 52.13 5,000 150 4,000…

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