LINN Energy Announces Pricing of its Public Offering of 7.5 Million Units

Oct 07, 2009

LINN Energy Announces Pricing of its Public Offering of 7.5 Million Units

HOUSTON, Oct 7, 2009 (GlobeNewswire via COMTEX) -- LINN Energy, LLC (Nasdaq:LINE) announced today the pricing of its public offering of 7,500,000 units of its limited liability company interests at a price of $21.90 per unit. The underwriters have an option to purchase up to an additional 1,125,000 units from the Company at the public offering price less the underwriting discount. The offering is expected to settle and close on October 13, 2009, subject to customary closing conditions. The Company expects to receive net proceeds of approximately $157 million (or $181 million if the underwriters exercise their option to purchase an additional 1,125,000 units) from the offering and intends to use all of the proceeds for the repayment of debt under LINN Energy's revolving credit facility.

Citi, Barclays Capital and RBC Capital Markets acted as joint book-running managers for the offering. When available, a copy of the prospectus supplement and the base prospectus relating to the offering may be obtained from:

     Brooklyn Army Terminal
     140 58th Street, 8th Floor
     Brooklyn, NY 11220
     Phone: (800) 831-9146

     Barclays Capital
     c/o Broadridge, Integrated Distribution Services
     1155 Long Island Avenue
     Edgewood, NY 11717
     Phone: (888) 603-5847

     RBC Capital Markets
     Three World Financial Center
     200 Vesey Street, 8th Floor
     New York, NY 10281-8098
     Attention: Equity Syndicate
     Phone: (212) 428-6670A

The shelf registration statement relating to these securities has previously been filed with the Securities and Exchange Commission and became effective upon filing. This press release does not constitute an offer to sell or a solicitation of an offer to buy units or any other securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering of these securities may be made only by means of the prospectus supplement and the related base prospectus.

The LINN Energy logo is available at  

This press release includes "forward-looking statements" within the meaning of the federal securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements include the Company's plans to complete a public offering of 7,500,000 units of its limited liability company interests. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, including market conditions, operational developments with respect to the Company and other factors described in the Company's reports filed with the Securities and Exchange Commission.

This news release was distributed by GlobeNewswire,  



Investors: Clay Jeansonne, Vice President - Investor Relations

Media: Paula Beasley, Manager, Public Affairs & Communications