Absolutely. When opinionsarelike33 and all his aliases, clones and IDs continually bash Linn it is from a uniquely vindictive standpoint stemming from him having made bad personal decisions and losing his retirement money.
During consecutive years of ~$100/bbl oil it made sense to aggressively acquire producing leases fitting a certain profile. Now it makes sense to reduce capex and suspend the distribution for a time to build cash reserves and to pay off some of the (discounted) debt. No one likes these steps but they must be done.
Ladies, welcome again to the conference call.
i really don't have too many updates other than to let you all know that everyone is entitled to one free slurpee from 7-11 this quarter.
we will be sending out coupons in the mail to each and everyone of you which will state, "one free slurpee from 7-11." please, take your time and enjoy this slurpee and don't get a brain freeze to go along with your distribution freeze.
thank you for joining us.
I am defending Linn. With oil at +/- $100/bbl for an extended period they did what they thought was best in that context. Now the situation has dramatically changed and Linn is adjusting. None of us may like it but it is necessary. You know, all plans are great plans until circumstances change and compel the planners to improvise on an ad hoc basis Any infantry officer or enlisted man will tell you this.
opinionsarelike33 [falsely] claimed to be an Air Force veteran; a lie for which he has never had the dignity to apologize. Yet even he could expatiate upon the topic of operational plans being changed at the most inopportune times. And likely more than once as well. The Army of Northern Virginia were tactical masters of manoeuver warefare until they were attrited past the point of no return.
If you are imputing malfeasance to Linn executives, I'd like to specifically know the nature of the alledged malfeasance. Not from a tin foil hat conspiracy theorist such as the board crazy person *opinionsarelike33* but a reasoned answer.
It really depends on your position here. If you have been holding a while (say $15+) why would you even consider selling off now? As you clearly point out there seems to be no indication of BK looming and its simply all the oil sector is getting slammed. Personally I would hold because there is not much more down side to lose and plenty of upside to regain. Simple odds from here.
I know basically nothing about this particular stock. It just came up on my radar yesterday and I waited to watch it today (very typical for a hard slam then the next day or two afterwards more pain just not as much).
I'm in a very hefty chuck here $4.04 and praying for an oil turnaround. Look at the max chart even here on Yahoo on LINE. She will either sink (which as everyone is saying is not in the cards for now) or oil finally breaks and stabilizes here then any upward movement takes these strong oil companies up.
Just my two cents. :-)
My point is that management is not responsible for the catastrophic drop in oil prices. We may be screwed here, but it s a macro problem and not the fault of current management. No one anticipated or virtually no one was predicting $47 oil prices in August 2015. Ellis has to deal with the hand he has been dealt. Don't kill the messenger, it is a witch hunt.
This is no the time for "I told you so.." It's time to make a rational decision -take a big loss and sell now, take a bigger loss and sell later or wait out the storm .None of the analysts are predicting BK and overall neutral. Das LINE worth today $4.00? Some say $7.00. It got to be a reason for that CALL. I choose to stay .See u later(maybe:)
'Normal' historic range? Pretty funny. American entrepreneurs in our free enterprise system changed the world.
The economic value of oil is tied to the marginal cost of shale production. Which is coming down. Unfortunately much of the decline has to do with cost deflation.
I do agree when Obama retires and Hillary is not elected, oil prices should begin to stabilize. But a price war between the Aryan Mullah and SA could take the route through the collapse of Ven and Nigeria.
The selling is over done but the future here is far from certain.
Thanks for the thoughtful post, RRB. I'd almost given up on this board as it's descended into childish bickering and personal name-calling. Plus there are the numerous here-today-gone-tomorrow posters who make absurd declarations without a hint of supporting reasons. And, finally, there marches a parade of the ignorant whose certitude about Linn-related issues is only outdone by their intellectual laziness. They can't bring themselves to make just a modicum of effort and gather actual information from easily available Web sources. Much easier for them to create their own "facts" and pretend they're not just fantasists. And there was a time when this board had a number of posters worth reading. But now, sadly, there are so few. Okay. My lament is over.
So Obama is not responsible from that insane 'deal' with the Supreme Aryan Mullah and the resulting collapse in oil prices? Which did not need to be this bad if Obama had not abuse his power to delay natural gas export. Not to mention scaring off mgl processing manufacturing with the insane Climate Change delusions. A great deal of positive economic growth could have been achieved by eliminate the illegal corn ethanol mandate too.
Such a foolish person Prancing Progressive Bear.
LINN was paying quarterly dividends. Then it went to monthly dividends. One of the justifications was to making shorting unattractive because the dividend. There had been several bear raids. Now when the distribution end it will be open season as long as the stock has some value. I'm sure mgmt covered that event.
You folks are dreaming only a miracle will make this company come back, actually I pretty sure Barons called it. I am afraid if oil drops to 40 Line will be 1 dollar a share. BK anyone?