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Linn Energy, LLC (LINE) Message Board

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  • mr0000right mr0000right Jan 7, 2012 1:25 PM Flag

    LINN Dec 27 2010 $37.49 Dec 27 2011 $37.91

    I own linn and i like linn. Do not plan
    selling yet. Could be toped out with no
    growth. Might become stock/bond

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      • 1 Reply to azgrannym
      • I've been negative on Linn Energy in the past, mainly the major screw up of selling the Marcellus (crown jewels) for a song and a dance, but I must say, the attacks on Linn have been off mark.

        Linn isn't a c-corp. It is a yield vehicle. People who buy something like Linn, should not be expecting the same type of results as those that buy something like a SandRidge or Chesapeake. Linn has, until recently, focused heavily on acquiring proven developed producing properties. That would be properties with very little downside, but also without homerun type upside. The intent at Linn is to produce stable income. Linn has however recently embraced the idea of developing the Granite Wash. The GW is what is carrying Linn. The gas side of the business is essentially bust without hedges and liquids. This is more so for Linn than even many of the shale players because so much of their gas is conventional. No matter, Linn has shifted gears towards oil and liquids rich gas.

        I do think Linn will be better served by seeking to drilling more wells than acquiring wells in the flat part of the decline curve. Linn has enough production and coverage that they can absorb the steep declines. I only hope Linn will stop acquiring low upside properties and instead continue to milk what it has and drill heavily. With strong paybacks in the GW, they will do well to drill and not acquire properties at full price.

 
LINE
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