Linn Energy Shutting in 1,000 Wells, Eyeing Potential Bankruptcy

摘要

Houston-based Linn Energy LLC, which made its name as a top onshore natural gas producer, warned Tuesday that bankruptcy may be unavoidable because of the continuing drain on finances from low commodity prices. The independent does not expect to remain in compliance with all of the restrictive covenants in its credit facilities unless they are waived or amended. The uncertainty associated with its ability to meet its obligations as they become due “raises substantial doubt about the company's ability to continue as a going concern,” management said.