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Linn Co, LLC Message Board

wegneredward 2 posts  |  Last Activity: May 29, 2014 12:40 PM Member since: Mar 27, 2014
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    Swap with Exxon a desperate act

    by wegneredward May 29, 2014 12:22 PM
    wegneredward wegneredward May 29, 2014 12:40 PM Flag

    Wrong, as usual.

  • wegneredward by wegneredward May 29, 2014 12:22 PM Flag

    What happened to their stated strategy to swap high-decline assets for high margin liquids-rich assets - this was 80% gas! Abandoned, apparently, to generate immediate cash flow because they already fell short last month and had to borrow to pay last month's distribution - look at the GAAP cash flow statement from Q1 14.

    It's amazing how this board continually puts a positive spin on a company struggling to just maintain distributions. 55K Permian acres to swap/sell, 25K gone, for gas, a little more than half left. Where the HUGE potential from the Permian assets? Just another "bucket-of-steam" from a desperate management team.

    Suggest you step back and take a more objective assessment (but you won't).

LNCO
30.73+0.19(+0.62%)Aug 20 4:00 PMEDT

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