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Linn Energy, LLC (LINE) Message Board

  • rlp2451 rlp2451 Aug 17, 2013 1:29 PM Flag

    Excellent SA Article Today

    "Lower Production And Weak Guidance Hamper Linn Energy"

    Linn will need to borrow $75 MM this year to pay the distribution if the Berry deal falls through.

    Author was previously a Linn supporter.

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    • Don't you think everyone has beaten this distribution percentage issue to death. Personally, I'm tired of hearing about it. Everyone knows what the historic facts are and I doubt anyone really knows the future. But even if LINE brings it's distribution down to $.20 a month to get in the hallowed ground of a distribution rate of more than 100%, that distribution still represents a premium to the market for stocks like this with very valuable assets. Again, I think the distribution ratio issue has been beaten to death by posters and commentators and its time for someone who knows something about current production trends to come forward and put a new topic on the table. GLTA

    • repeat of post of linns published coverage data for 2013. full year 2013 .90 pre bry and .96 post bry proxy

      Berry Merger would add .26 to distribution coverage in 4th qrtr and .06 for entire year, $97.4mm DCF-Oct 1 proforma closing

      From second qrtr 2013 supplemental results

      Stand Alone Linn 2013 projection----------------------------------------------------------

      ---------------------------------3rd qrtr-----------4th qrtr-------------2013 Annual
      DCF/unit-----------------------0.630--------------0.690----------------2.60
      Distribution/unit--------------0.725--------------0.725---------------- 2.90
      Distribution coverage ratio--.87x---------------.95x------------------.90x
      DCF----------------------------$148 mm---------$162mm------------$611mm

      Pro Forma Linn/Berry Merger Oct. 1, 2013 Closing projection--------------------

      ------------------------------------------------------4th qrtr-------------2013 Annual
      DCF/unit--------------------------------------------0.840----------------2.80
      Distribution/unit-----------------------------------0.725----------------2.90
      Distribution coverage ratio---------------------1.16x----------------.96x
      DCF------------------------------------------------$259.4mm----------$708.4mm

    • 1) he doesn't account for the one month deferral of distributions paid this year from the switchover to monthly distributions. This would raise the yearend DCF ratio to nearly 1

      2) on his chart you can clearly see quarters where DCF exceeded distributions - so why does it matter if the company is paying a bit more now when it paid a bit less before. The average is certainly over one.

 
LINE
10.85-0.080(-0.73%)Dec 26 4:00 PMEST

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