Linn Closes Down Sales, Readies Roan and Riviera Spinoffs

摘要

HOUSTON'S LINN ENERGY INC. has wrapped its divestiture program, raking in an estimated $1.9 billion in closed asset sales and cleaving the company into two entities that will go public: Roan Resources LLC and Riviera Resources LLC. Linn said in early May that it has completed more than 20 asset sales since 2017, far exceeding the assets' PV-10 values. The company closed on the sale of its Altamont Bluebell transaction in April. In 2018. the company also divested its remaining properties in the Permian Basin, which produced about 39 MMcfe/d in the first quarter.