They either violated existing accounting rules or they didn't. The SEC cannot say, well you didn't really violate any rule but your accounting really isn't what we consider "best practice" so we are going to sanction you. Not how the bureaucracy operates. You are free to contemplate headwinds if you wish, but this accounting issue will not be one of them. But of course if they did violate existing FASB standard or other regulatory bodies, well that will be a different story.
There are no hard rules for non-gaap metrics except they be fairly and reasonably stated.
Capitalization of puts with a large acquisition is not unreasonable so that drops away.
Buying some puts above future strip is also reasonable depending on the premiums being offered by the market.
If the SEC does not like it then all which can be direct is what has already been done. Go all swaps.
But the primary reason to invest in LINE long term remains Americans natural gas prices coming into relationship to marginal cost of production and then world prices.
Something our markets would have already largely achieved except for Obama passive aggressive deceptive abuse of executive power to impose regulation in the name of the global warming religion and holding back export licenses.
Not to mention sustaining insane ethanol mandates against court orders and the law itself.
Natural gas would displace corn ethanol in short order except for abuse of government power.
Further as LINE sells their natural gas five years out any of these changes would immediately increase hedge prices.