Linn Energy (LINE) recommends a suspension of its dividend

• current Div/yield 0.10/26.27
• Independent Oil & Gas | USA

LINE : Reported Q2 (Jun) results, announced its intention to recommend a suspension of its dividend; downgraded to Market Perform from Outperform at Raymond James.

5/1 buy : Linn Energy (LINE) @ $17.01

Ex-Dividend Date:   5/4   Dividend:  $0.63  Div Yield:  15.24%   Payable Date:  5/14

Linn Energy, LLC (Linn Energy) is an independent oil and gas company focused on the development and acquisition of long life properties in the United States. The Company's properties are located in the Mid-Continent and California. Proved reserves as of December 31, 2008 were 1,660 One billion cubic feet (Bcfe), of which approximately 51% were gas, 31% were oil and 18% were natural gas liquids (NGL). Approximately 68% were classified as proved developed. As of December 31, 2008, the Company operated 4,453, or 66%, of its 6,716 gross productive wells. The Company's properties are located in three regions in the United States: Mid-Continent Deep, which includes the Texas Panhandle Deep Granite Wash formation and deep formations in Oklahoma; Mid-Continent Shallow, which includes the Texas Panhandle Brown Dolomite formation and shallow formations in Oklahoma, and Western, which includes the Brea Olinda Field of the Los Angeles Basin in California.

Company Info

Headquarters:600 Travis Street, Suite 7000 Houston, TX 77002

Web Address: http://www.linnenergy.com