HOUSTON, July 17, 2018 (GLOBE NEWSWIRE) — LINN Energy, Inc. (OTCQB:LNGG) (“LINN” or the “Company”) will host a conference call on Tuesday, July 31, 2018 at 10:00 a.m. (Central) to discuss the strategic and financial outlook of Roan Resources LLC (“Roan”) as it relates to LINN’s 50% equity interest in Roan. There will be prepared remarks by David B. Rottino, LINN’s Executive Vice President and Chief Financial Officer and President and Chief Executive Officer of Riviera Resources, and Roan’s senior management followed by a question and answer session. Prior to the conference call, LINN will provide on its website an investor presentation focused on Roan’s business outlook.
As previously announced, the Company’s Board of Directors believes the Company trades at a discount to its sum of the parts value and therefore determined to separate the Company into two stand-alone publicly traded businesses to unlock this value. The Company expects to execute the separation of the Company’s 50% equity interest in Roan and Riviera Resources (“Riviera”) in August (the “Spin Transaction”).
Prior to the date of the Spin Transaction, LINN will release further details outlining the mechanics of the Spin Transaction. Riviera will also hold an investor call shortly after the Spin Transaction to provide additional strategic and financial information related to Riviera and, its wholly owned subsidiary, Blue Mountain Midstream LLC.
Investors and analysts are invited to participate in the conference call by dialing (844) 625-4392, or (409) 497-0988 for international calls using Conference ID: 4485038. Interested parties may also listen over the internet at www.linnenergy.com. A replay of the conference call will be available on the Company’s website or by phone until August 7, 2018. The number for the replay is (855) 859-2056 or (404) 537-3406 for international calls using Conference ID: 4485038.
Presentation materials will be made available prior to the start of the call on the Company’s website at the following link http://ir.linnenergy.com/presentations.cfm.
ABOUT LINN ENERGY
LINN Energy, Inc. was formed in February 2017 as the reorganized successor to LINN Energy, LLC. Headquartered in Houston, Texas, the Company’s current focus is the development of the Merge/SCOOP/STACK in Oklahoma through its equity interest in Roan, as well as through its midstream operations in that area. Additionally, the Company is pursuing emerging horizontal opportunities in Oklahoma, North Louisiana and East Texas, while continuing to add value by efficiently operating and applying new technology to a diverse set of long-life producing assets.
ABOUT ROAN RESOURCES LLC
Roan is an independent oil and natural gas company headquartered in Oklahoma City, OK focused on the development, exploration and acquisition of unconventional oil and natural gas reserves in the Merge, SCOOP and STACK plays in Oklahoma. Roan was formed in the second quarter of 2017 by LINN and Citizen Energy II, LLC (“Citizen”). In exchange for their contributions, LINN and Citizen each received a 50% equity interest in Roan. Roan’s operations team took over field operations from LINN and Citizen in early 2018. For more information, please visit www.RoanResources.com.
Statements made in this press release that are not historical facts are “forward-looking statements.” These statements are based on certain assumptions and expectations made by the Company, which reflect management’s experience, estimates and perception of historical trends, current conditions and anticipated future developments. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or anticipated in the forward-looking statements. These include risks relating to the Company’s ability to consummate the Spin Transaction (including, among others, risks regarding the timing and scope of the review by the Securities and Exchange Commission of Riviera’s Registration Statement on Form S-1 and negotiation and execution of definitive documentation), risks regarding the consummation of any consolidation of the equity of Roan (including the results of ongoing due diligence and the negotiation and execution of definitive documentation), risks related to the financial and operational performance and results of the Company and Roan, availability of sufficient cash flow to execute our business plan, continued low or further declining commodity prices and demand for oil, natural gas and natural gas liquids, ability to hedge future production, ability to replace reserves and efficiently develop current reserves, the capacity and utilization of midstream facilities and the regulatory environment. These and other important factors could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Please read “Risk Factors” in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other public filings as well as the risk factors in Riviera’s Registration Statement on Form S-1. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information or future events.
CONTACT: LINN Energy, Inc.