Hello great message board members
here is a cut and past from seeking Alpha
CEO Interview: Mark Ellis, Linn Energy (LINE). Other stock mentioned: Berry Petroleum (BRY)
Linn Energy (LINE), a stock Cramer owns for his charitable trust, fell 5% on an aggressively negative article in Barron's saying the stock is overvalued and speculating that its 8.8% distribution may be cut. CEO Mark Ellis responded to these criticisms by saying that LINE's stock is valued at least the high 30s to the mid 40s (Barron's said the stock should be trading at $18, half its current price), and that the company has been "clear and transparent" concerning its accounting. The company was forthcoming about its flat production quarter over quarter, "but one quarter does not make or break a company," and Ellis expects a stronger performance in the second half of the year. The company has 100% of its natural gas hedged for 4 years and 100% of its oil hedged for 5 years. Ellis says LINE will raise its yield by 6.3% and may look for other accretive acquisitions, such as the upcoming Berry (BRY) deal. "I think many of the facts (in the Barron's article) were misleading," said Ellis.