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Linn Energy, LLC (LINE) Message Board

norrishappy 614 posts  |  Last Activity: 2 hours 11 minutes ago Member since: Apr 24, 2002
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  • norrishappy norrishappy 2 hours 11 minutes ago Flag

    Actually my investments are unbelievably well. I am very grateful.

    My active accounts seem to be running 8% annually over my Vanguard Mutual accounts for the last five years.

  • norrishappy norrishappy 4 hours ago Flag

    Destroy Americans cars and boat engines for Stag Monster's defective corn ethanol political corruption, Opie

    Management did push into additional ngl production at exactly the wrong moment. Which was to bad as management had been prescient enough to see what the new technology would do to natural prices and made a critical major asset swap. Texas Hogshooter was a shale disappointment. But the real critical danager came courtesy of Obama's SEC launching a never ending investigation of the put accounting at exactly the right instant to aid the attacking short operation.

    Given where management was caught, the come back has been nothing short of flawless.

    I should also admit they knew more about the intrinsic worth of BRY than I did. Also, if not the inexplicable timing of the SEC investigation and even more inexplicable duration, LINE owners would be enjoying distribution increases now.

    Interesting the self proven racist and self proclaimed conservative who operates like a Progressive always omits the key variable. The one Hedge Eye never admits. Gee I wonder why. ;)

  • norrishappy norrishappy 4 hours ago Flag

    RRB Caliban Hedgie chanting.

  • norrishappy norrishappy 5 hours ago Flag

    Destroy American cars and massively increase the true cost of gasoline while massively increasing pollution for Stag Monsters corn ethanol political payoff, Opie,

    LINE is selling at a 20% discount to intrinsic cash flow value due to a perception of cash flow weakness. There is a necessity to further increase production which requires raising external money.

    Trading high potential but also wide variability shales for low maintenance and highly predictable mature assets is a most beneficial two birds with one stone strategy.

    Poor rrb has yet to come to understand the intersection of variability of return and capital intensity to the estimation of LINEs risk profile. How that risk profile is then magnified by a high degree of balance sheet leverage if the operating margin or operating cash flow is not very secure.

    As management builds the dcf coverage cushion the average American here for income should be very pleased. The reality is given the condition of the markets LINE is most likely getting the better part of the swaps. At least on a risk adjusted basis.

    But asset value is not the sensitive variable in LINEs valuation. Rather it is the risk mark down. Which is being eliminated with each of these swaps. Even if it is not reflected in the unit price.

    Amazing how the OLB spends day and night here. When they really do not like management or the company much. What on earth compels such determined behaviour.

  • norrishappy norrishappy 7 hours ago Flag

    Starve human being and destroy American cars for Stag Monsters defective corn ethanol corruption, Opie

    Only RRB the unrepentant Caliban is more feeble than you. But then it really tries to hard.

  • It is well known that California is the most populated state in the Union, with more than 38 million people. Its population was just under 20 million in 1970, when the bulk of its current water storage and delivery systems were already built. In other words, the California governments have done very little to significantly increase water supplies in over 40 years, even though its population has doubled during that period of time.

    T. C. Baccaro

    Rather than a modern scientific addressment of the challenge we get this

    The State Water Resources Control Board had already allotted $500,000 to buy bottled water for East Porterville residents, said Bruce Burton of the board's Drinking Water Program.

    But many East Porterville residents, like Serrato, say all they want is to get a glass of water from the kitchen sink. Her well dried up nearly two months ago, she said, making life challenging for her husband and three children.

    California’s current drought was at its worst in 2013, and continues to this day. It is apparently less well known to the public, the media, and government that California has been subject to considerable droughts over the centuries, lasting up to 20 years in a row. In fact, contrary to the notion that California is suffering more droughts than usual, according to Scott Stine, a professor of geography and environmental studies at Cal State East Bay, as reported in the San Jose Mercury News, “the past century has been among the wettest of the last 7,000 years.”

    Salmon and other native creatures have been through far more difficult water conditions than Progressive collectivist mismanagement today. I believe 80% of the 20% of the fresh water put to productive purpose is agricultural. Which is primarily big business which can draw on ground water to address progressives wild mismanagement of surface water.

    The mixture of Spanish water rights and the crony capitalism inherent in Progressive control of government. Aided by primitive religion.

  • A picture of silliness worth a look.

    What the heck is scientific about material or condition reach of delusion diversity?

    The simple fact is a Global Warming Peoples march which stresses material or conditional diversity is an expression of primitive religion as there is no logic or reductionist science in the display or the demand.

    Certainly the thought a diversity of collectives gathering for a 'protest' rather than awareness or persuasion is another facet of delusion.

    The ultimate diversity is God's gift. Each individual is gifted Liberty and a free intellect or will.

    Of course uniting collectives of non-individualism is an attempt at imposing delusion via politics rather than convincing by persuasion.

    Hey I am an individual who recommends we get these primitive deludes out of the way and develop the cleanest and cheapest alternative available . American produced natural gas.

    If these poor misguided emotional children wish to make an immediate contribution to 'Social Justice'?

    Follow the Catholic Churches discernment that corn ethanol and all other food based 'fuel' should be ended today.

    Using our natural gas and ending the delusional base load solar panels, wind mills and most especially organic base load energy would reduce co2 emissions by more than these poor irrational people are demanding.

    Which is proof of their emotional and therefore irrational condition.

  • Poor Jon Chaka Stewart with his legions of Ivy League Denisovan writers really do not know better.

    Picking of William Shakespeare when the term in this fashion was coined by organized crime in the 1930s. Likely by organized crime guys who were Jewish. The Sicilians were not big William fans. Roman and Catholic.

    While all this is true. You can see how the term really upset Jon and the writers. So best not to use it.

    It really was a funny routine. Jon's timing was perfect.

    But Hilary's Benghazi video bald faced lie is far more damaging.

    You can see how unleashing such insanity on the American people and a large segment taking it dogmatically would appear to Putin and terrorists.

    It was an action of war. Yet we treat it like a criminal investigation. Compounding the display of American government malfunction.

    Not honoring the small team of operators who saved over 20 Americans by losing two of their and our own.

    Progressive OLB behaviour but on a national stage. None of it is good for America.

  • Reply to

    Market Snooze

    by rrb1981 Sep 19, 2014 12:47 PM
    norrishappy norrishappy 10 hours ago Flag

    'Near terminal decline rates wells" 6% to 10% decline rates with about 20 year life estimates by current operations.

    Silly rrb persona.

  • Reply to

    Market Snooze

    by rrb1981 Sep 19, 2014 12:47 PM
    norrishappy norrishappy 11 hours ago Flag

    Poor rrb blows it by repeating the Hedge Eye nonsense.

    But when some one does not value themselves, this is the type of altered reality they create.

    The effective pricing is in the SEC reports. Which clearly poor Caliban did not read for it;s self.

    The concerns over margin compression came form costs. Oil and especially shale oil have very different economics and were not broken out. The analysts were not provided the data to establish the cause of margin compression on increasing costs and were already in show me mode. Of course the Hogshooter TX disappointment was a reasonable explanation but not while the analysts

    Actually if our unrepentant Caliban paid attention, the first turn came with the market surprise of EPDs propane exports moving prices. Also improvement in heavier gasoline blending stocks. Also natural gasoline which is used as a production dilute for heavy Canadian operations.

    That is the waste of the condition of no shame. It blocks a person from developing to their potential.

  • Reply to

    Market Snooze

    by rrb1981 Sep 19, 2014 12:47 PM
    norrishappy norrishappy Sep 20, 2014 12:31 PM Flag

    Poor unrepentant Caliban still worshiping man,

    The determinant variable was the push into greater mix of ngls just as the market became completely irrational.

    The strategy of hedging Hugoton ngls with natural gas hedges failed due to complete failure of pricing relative to BTU content.. Something you once prattle on endlessly about.

    Which of course would lower 'capital efficiency'. At the same moment they were distracted by the BRY deal and dropped the ball on infrastructure supporting production growth.With the string of 'bad' quarters the analysts understandably went into show me mode. Which management has done. So far.

    It is the problem with your condition. The disjointed technical knowledge you command is a tool you do not have the character and therefore wisdom to wield as a useful tool.

    Which is why you just keep repeating the same old mistakes. You are correct under the advanced Progressive concept of the enemy of my enemy is my friend the olb desperate tries to support you.

    But if you had any shame you would have slunk off long ago.

  • Reply to

    Market Snooze

    by rrb1981 Sep 19, 2014 12:47 PM
    norrishappy norrishappy Sep 20, 2014 10:20 AM Flag

    I believe many of Linn's problems were self inflicted. It is very obvious that Mike Linn saw and fully understood the declining hedge issue. Linn had major margin compression over the past 5 years.

    So boring. 'Pricing' on hedge product was never a problem. The complete collapse of ngl was.

    Something you went on and on about with 'dirty hedges' with the Hugonton1 acquisition. But as you were telling tall tales and posing as you are compelled to do, you have not remembered,

    the really sad part is you might not even remember now. Such is the Progressives condition of existence.

  • norrishappy by norrishappy Sep 20, 2014 12:29 AM Flag


  • norrishappy norrishappy Sep 19, 2014 2:26 PM Flag

    YOu know this would be a great part for Jon Stewart. A good way to ask forgiveness of Patrick Stewart for that really snarky or Progressive comment about the 'theater'. In fact, I bet with enough stage magic Patrick could indeed play the part of Portina. In the old school fashion Stewart knows from the beginning.

    ;) :0

    One O'Cavuto and One Jon Arby's mountain of meat Stewart awarded to No One!

    Of course the conversion of Shylock was necessary if Shakespeare was to avoid banishment or prison or suppression. But it and of it self was a final challenge to Reform Christianity theology.

    Something George Washington would be fully aware of. It is a Wonder to consider Washington the richest planter in America striving to be accepted as an equal British citizen would be come the radical for Individual Liberty. Penning the exception response to 'Rabbi' Seixas

    All possess alike liberty of conscience and immunities of citizenship. It is now no more that toleration is spoken of, as if it was by the indulgence of one class of people that another enjoyed the exercise of their inherent natural rights. For happily the Government of the United States, which gives to bigotry no sanction, to persecution no assistance, requires only that they who live under its protection, should demean themselves as good citizens.

    Which really was an affirmation of Warren Siexas' writing.

    Our Founders and Framers loved Shakespeare. With good reason.

    Also a good reason the Poison Ivy League no long includes Shakespeare. Also that intentionally omitting critical central ideas goes without comment. Just like perverting the Preambles to our Declaration and Constitution with the capitalization is foisted upon public education without comment. So complete that a model teacher with a masters in history was not aware.

    So Jon is really disadvantage again. The nature of a 'Ivy League' education in Progressive America.

  • norrishappy by norrishappy Sep 19, 2014 2:06 PM Flag

    LINN announced a Permian-California trade with ExxonMobil that we view as an incremental positive step toward eventually resuming distribution growth. While it was only a portion of the remaining Permian assets the company has been looking to trade/sell, it will be accretive in 2015 (~$20+ mil) and will also provide LINN with underdeveloped assets to develop over time in a capital-efficient manner. We continue to look ahead to additional steps that can both strengthen their balance sheet as well as their cash position to take distributions higher.

    The analyst clearly is now clearly looking forward to a c-corp acquisition to lower the balance sheet leverage. Of course how fitting it marks the return of our Caliban delude. Paying down debt directly by simple math; rrb never has understood not improve, LINE's position to increase distributions.

  • norrishappy norrishappy Sep 19, 2014 12:10 PM Flag

    Of course Portina demonstrates a full understanding of the legalism of the law. Yea a WOMAN.
    But then goes on to state what was the Foundation of the Common Law. Mercy of course is a facet and stand in for the concept of Christian Grace.

    The quality of mercy is not strained.
    It droppeth as the gentle rain from heaven
    Upon the place beneath. It is twice blest:
    It blesseth him that gives and him that takes.
    Tis mightiest in the mightiest; it becomes
    The throned monarch better than his crown.
    His scepter shows the force of temporal power,
    The attribute to awe and majesty,
    Wherein doth sit the dread and fear of kings.
    But mercy is above this sceptered sway;
    It is enthroned in the hearts of kings;
    It is an attribute of God himself;
    And earthly power doth then show like God's
    When mercy seasons justice.

    Again clever in that Shakespeare brings forth the point of Lawful Common Foundation without challenging the Supremacy.

  • No One should need to place Shakespeare in time and place. An Elizabethan police state under the Royal Supremacy established by Henry 8. There was also the lightly suppressed for that time and space old religion of Catholicism. Forces which would claim Marlowe

    It was a time when the concept of the Blood Libel against Jew was generally accepted. So the easy villain was a nasty flat character with red hair and a great #$%$ nose. Although the play would be done in this fashion it clearly was not Shakespeare's intent.

    In fact Shakespeare often went to great peril with his stories and characters. Humanizing a Jew with just cause is something very different.


    Hath not a Jew eyes? Hath not a Jew hands, organs,
    dimensions, senses, affections, passions; fed with
    the same food, hurt with the same weapons, subject
    to the same diseases, heal'd by the same means,
    warm'd and cool'd by the same winter and summer
    as a Christian is? If you #$%$ us, do we not bleed?
    If you tickle us, do we not laugh? If you poison us,
    do we not die? And if you wrong us, shall we not revenge?
    If we are like you in the rest, we will resemble you in that.
    If a Jew wrong a Christian, what is his humility?
    Revenge. If a Christian wrong a Jew, what should his
    sufferance be by Christian example? Why, revenge.
    The villainy you teach me, I will execute,
    and it shall go hard but I will better the instruction.

    Open challenge to the 'Christian' example and Reformation theology.

  • Reply to

    LINE Options

    by ronharv Sep 16, 2014 3:20 PM
    norrishappy norrishappy Sep 19, 2014 11:46 AM Flag

    LINE volatility should be declining. Additional high certainty production is good for cash flow and also reduction in capital requirements. Lowering the need for external financing to support production growth.

    Yielding 9.5% should deaden the impact of an interest rate increase. But given Obama still has 2 years to keep American and the world in an ocean of uncertainty, perhaps a rate increase is not an immediate worry. But it would make a significant change in option valuations from these artificial levels.

    Then there is the question of vega to volatility thing. BETA At this point LINE should have little correlation to the market in general. Management is actively reducing operational 'volatility'. Padding DCF coverage will reduce equity valuation volatility. Padding will once again allow a margin against SEC gamesmanship by an ultra conservative treatment.

    I figure line is clearly undervalued. But the not normal futures markets and unstable American therefore world economy are a key risk.

  • Reply to

    Another Exxon Deal

    by m20m75ph Sep 18, 2014 5:30 PM
    norrishappy norrishappy Sep 19, 2014 8:26 AM Flag

    All oil on the California EOR. Given the disruption of the American oil/gas/ngl market it depends on the actual mix of production.
    California oil pricing.
    California has so much oil it will not produce that no one desires to pay for a pipe. So there is Progressive train movement of oil. Which is a force to sustain here differentials.
    Should be less capital or cheaper with far less production variability for the California property.

    It remains a complex geology. Perhaps there is not a deeper pool. But as the oil was forced up into pools, odds are pretty good their are significant 'pockets' which could be exploited in the future with the new technologies.

  • Reply to

    Another Exxon Deal

    by m20m75ph Sep 18, 2014 5:30 PM
    norrishappy norrishappy Sep 18, 2014 5:38 PM Flag

    Yes it looks like a great deal. Oil at California prices. Certainly the team has done a great job of cost effective production increase with Midway Sunset. Maybe even an opportunity for natural gas in excess of EOR requirement at Midway.

    We will need additional color. But investors buying LINE and waiting out Obama should be very pleased.

    Hedge Eye was more than a great deal off on their asset valuation musings. Question is where the 26 year old wunderkind should have wore the cup.

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