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Linn Energy, LLC (LINE) Message Board

  • kisco62 kisco62 Jun 20, 2013 1:11 PM Flag

    Please grow up

    How about posting useful & helpful information? All this personal sniping serves no purpose to any readers You can disagree without being childish & calling names.

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    • so kisco what do you think about what sand posted about LINE?

    • kisco
      Helpful info about Linn Energy seems to get in the way of the basher-chatter and distractions to anything other than Linn.

      But since you asked for something relevant, there is a good recent report out from Kansas.

      You know of any Linn properties in Kansas?

      hint..(from BP).

      "News Release, Kansas Geological Survey, May 3, 2013

      "Kansas Oil Production Up, Natural Gas Production Down in 2012
      LAWRENCE--Oil production in Kansas increased in 2012, buoyed in part by output from horizontal wells in several southern counties, as natural gas production continued to decline, according to estimates from the Kansas Geological Survey (KGS) at the University of Kansas.

      Oil production in Kansas rose from about 41.5 million barrels in 2011 to 43.7 million barrels in 2012, an increase of 5%. Over the same period natural gas production in the state declined 4 percent from 312 billion cubic feet (bcf) in 2011 to just under 300 bcf in 2012.

      "Consistently higher oil prices since 2000--when the price was $25 per barrel compared to $84 now--have sustained the increase in the state's drilling activity," said KGS geologist Lynn Watney. "In contrast, new drilling in the Hugoton Gas Area, the state's largest natural gas field, has essentially stopped due to continuing low gas prices."

      The cumulative value of the state's oil production increased from an estimated $3.5 billion in 2011 to $3.7 billion in 2012 as prices remained relatively steady. The cumulative value of natural gas dropped from about $1.2 billion in 2011 to $790 million in 2012. The price of natural gas, which peaked at $14 per thousand cubic feet (mcf) in 2008, is about $4 per mcf today.

      Innovation in horizontal drilling and multistage hydraulic fracturing, popularly known as "fracking," has been the main force behind recent activity that focuses on Mississippian-age oil-bearing rocks about 5,000 feet underground in southern and western Kansas. Easily accessible oil in the rocks, which were formed about.."

      • 2 Replies to sandonthebeach47
      • The property that LINE bought from BP was NG fields not oil. •Liquids-rich production of approximately 110 MMcfe/d (98% operated, 63% natural gas, 37% NGL)

        So how is LINES oil production doing in Kansas?

        This acquisition marks our entry into the largest conventional natural gas field in the US, and it is an excellent fit for our business strategy," said Mark E. Ellis, chairman, president and CEO. "This impactful

      • Doesn't sound very positive for Linn ("new drilling in the Hugoton Gas Area..has essentially stopped.")

        Production from the Hugoton declined as lower natural gas prices made development in the area less profitable.

        Linn actually has 30% fewer oil wells operating in Kansas now than they had in 2012 and production is way down.

        Did you really mean to post this?

 
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