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Fifth Street Finance Corp. Message Board

call_center_tech 1 post  |  Last Activity: Apr 30, 2016 12:51 PM Member since: Sep 7, 2012
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  • call_center_tech by call_center_tech Apr 30, 2016 12:51 PM Flag

    Looking at Linn's last quarter balance sheet, its oil and gas properties are valued at $7.5B as of 31 Dec 2015. This is down 25% from the 30 Sep 2015 balance sheet valuation. Is this property asset valued at the last day of the quarter, or does Linn use an average value during the reporting quarter?

    This last quarter was the first one where stockholder equity turned negative.

    Oil prices are currently 38% higher today than 31 Dec 2015, making Linn's oil and gas properties worth $10.35B (if the reported value was as of 31 Dec). How does that affect the bank's loan/asset coverage ratios? If this number is accurate, Linn stockholder equity has now turned positive, which makes BK a little dicey for mgmt. when stockholders could claim they had value taken from them based on the intrinsic value of the assets of the company vs debt.

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