Actually Line is performing quite well today considering it was up over $1.00 last session and the fact the rest of the energy sector is tanking anywhere from 3 or 4 % to double digit losses. Maybe you should take a break and go out and get yourself some cheese. I believe it will go quite well with all that excess whine you seem to have.
The US alone consumed about 7 BILLION barrels of oil last year which equates to about 19 million per day. Next in line was China at 10 million and Japan at less than 5 million per day. Bringing up the rear, Brazil ( 2.9) Canada ( 2.4) Germany ( 2.4) India ( 3.5) South Korea, ( 2.3) Mexico ( 2.1) Russia ( 3.4) Saudi Arabia ( 2.9) all in millions per day. They claim there’s about 2 million barrels a day of excess production right now heading into the Winter Season in the US. Does anyone believe the US will curb our insatiable appetite for crude in the near future especially with an improving economy and lower gas prices. I bet gas guzzlers will be back popular as ever in the coming months because our attention span has shrunk to minutes and seconds because of technology. Faster is better should be our slogan.
Looking to take advantage of this buyers market in 2015. There will be lots of opportunities to grow the company in this environment. "Acquisitions will drive the bulk of what they put in Drillco". The 500 million could be extended if Line can use it . Senior debt lenders DID NOT require a distribution cut.
They said they now have a strong projected coverage ratio of 1.18X. Cash flow is also projected to improve Q to Q in 2015 and numbers DON'T include capital cost improvements, acquisitions or savings from the drill agreement. 2015 production list is expected to be made up of oil - 32% - NG - 54% and NGL - 14%
Anyone listen to the CC and if so any nuggets of info for slackers like myself. The flu has kept me out of touch the last few days.
Hey tard please don't bring your personal financial problems here. If you believe bankruptcy is in your future contact a good tax agency or attorney for advice. Taking your meds might help as well.
In addition, LINN announced that it has signed a non-binding letter of intent with private capital investor GSO Capital Partners LP ("GSO"), the credit platform of The Blackstone Group L.P. (NYSE:BX) ("Blackstone"), to fund oil and natural gas development (the "DrillCo Agreement"). Subject to final documentation, funds managed by GSO and its affiliates have agreed to commit up to $500 million with 5-year availability to fund drilling programs on locations provided by LINN. Subject to adjustments depending on asset characteristics and return expectations, GSO will fund 100% of the costs associated with new wells drilled under the DrillCo Agreement and is expected to receive an 85% working interest in these wells until it achieves a 15% internal rate of return on annual groupings of wells, while LINN is expected to receive a 15% carried working interest during this period. Upon reaching the internal rate of return target, GSO's interest will be reduced to 5%, while LINN's will increase to 95%.
"We are extremely pleased to announce a new strategic initiative today designed to allow LINN to be an active developer of assets with growth capital funded from a new financial partnership with GSO," said Mr. Ellis. "This agreement creates a dynamic alliance, combining world-class expertise from a highly respected investor with LINN's ability to acquire and develop oil and natural gas assets."
Dwight Scott, Senior Managing Director of GSO Capital, commented, "We are excited to partner with LINN as it continues to grow its business. LINN is a leading operator with an exceptional undeveloped asset base, which is expected to generate significant value for the partnership."
Strategic advantages for LINN:
• Allows LINN to develop assets without increasing capital intensity;
• Potential to add a steady and growing cash flow stream with no capital requirement;
• Increases LINN's long term ability to fund all oil and natural gas development capital and the distribution from internal
I don't get excited over stocks on the upside or downside. I leave emotions out of my trading and just make my decision's based on the information available. I fully expected this distro cut so it is a non-event to me. Stop jumping to conclusions and do a bong hit or two then go eat your porridge.
Obviously we bears think alike, now Goldilocks is line too hot too cold or just right now.
He's too busy drowning himself in pity. It's everybody else's fault but his own.
You can't change the past OP, we all wish we would have sold at $21 or $15 as well. The question right now, is the remaining money you have invested in Line better off invested elsewhere or kept in Line. A year from now if you're still here whining you will have no one else to blame but yourself.
Hey OP I challenge you to find a single post of mine where I said they would never "cut the distribution". While you're researching please feel free to repost the ones where I said a cut would be good for the share price.
It has EVERYTHING to do with the oil crash and the oil sector collapse as well. Hindsight is always 20/20 but the future is now and LINE did what they needed to do, end of story.