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SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc

Linn Energy, Llc · Mar 17, 2014 · 12 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. SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 1
    Supplemental Q4 2013 Financial and Operational Results
  2. SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 2
    LINN Energy 2014 Capital Budget Total 2014 capital budget of 1.6 billion 11% reduction in capital compared to LINN and Berrys combined 2013 budgets of 1.8 billion High-graded capital programs with the goal of: o More predictable…
  3. SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 3
    Midland Basin Strategic Alternatives Currently evaluating potential strategic options for LINNs Midland Basin position Potential options include: Trading some or all of LINNs Midland Basin position for long-life, mature producing…
  4. SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 4
    Commodity Hedge Positions LINN and Berry Combined 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% 36% 350 41% 300 250 200 5.19 4.20 4.26 150 5.25 5.00 100…
  5. SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 5
    Statements of Operations Three Months Ended Year Ended December 31, December 31, 2013 2012 2013 2012 (in thousands, except per unit amounts) Revenues and other: Oil, natural gas and natural gas liquids sales 584,630 460,976…
  6. SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 6
    Operating Statistics Three Months Ended Year Ended December 31, December 31, 2013 2012 2013 2012 Average daily production Natural gas (MMcf/d) 441 442 443 349 Oil (MBbls/d) 40.0 31.5 33.5 29.2 NGL (MBbls/d) 34.7 28.1 29.7 24.5…
  7. SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 7
    Additional Financial Data Selected Balance Sheet Data December 31, 2013 2012 (in thousands) Assets: Total current assets 815,940 811,428 Oil and natural gas properties, net 14,342,275 9,585,674 Other property and equipment, net…
  8. SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 8
    Guidance Table Q1 2014E FY 2014E Net Production (1) Natural gas (MMcf/d) 480 - 493 485 - 520 Oil (Bbls/d) 68,550 - 70,625 68,950 - 73,190 NGL (Bbls/d) 29,650 - 30,550 28,550 - 30,300 Total (MMcfe/d) 1,070 - 1,100 1,070 - 1,140…
  9. SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 9
    Guidance Table (Continued) Commodity Hedge Positions Q1 2014E FY 2014E Natural gas positions: Fixed price swaps (NYMEX Henry Hub): Hedged volume (MMMBtu) 24,017 97,400 Average price (/MMBtu) 5.25 5.25 Put options (NYMEX Henry…
  10. SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 10
    Guidance Table (Continued) Commodity Hedge Positions Q1 2014E FY 2014E Natural gas basis differential positions: (1) Panhandle basis swaps: Hedged volume (MMMBtu) 19,575 79,388 Hedged differential (/MMBtu) (0.33) (0.33) NWPL…
  11. SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 11
    Commodity Hedge Portfolio 2014 2015 2016 2017 2018 Natural gas positions: Fixed price swaps (NYMEX Henry Hub): Hedged volume (MMMBtu) 97,400 118,041 121,841 120,122 36,500 Average price (/MMBtu) 5.25 5.19 4.20 4.26 5.00 Put options…
  12. SUPPLEMENTAL Q4 2013 FINANCIAL AND OPERATIONAL RESULTS – Linn Energy, Llc – slide 12
    Reserve Replacement Metrics The reserve replacement metrics provided herein are non-GAAP financial measures. The methods used by the Company to calculate reserve replacement cost and finding and development cost may differ from methods…

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