Oil, Gas and Consumable Fuels
Company Overview of LinnCo, LLC
LinnCo, LLC, through its interests in Linn Energy, LLC, engages in the acquisition and development of oil and natural gas properties in the United States. Its properties include the Hugoton Basin, the Rockies, and the Permian Basin, as well as located in California, East Texas and North Louisiana, the Mid-Continent, Michigan/Illinois, and South Texas. As of December 31, 2015, it had approximately 4,488 Bcfe of proved reserves. The company was founded in 2012 and is headquartered in Houston, Texas. On May 11, 2016, LinnCo, LLC filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas. It is in joint administration with Linn ...
Houston, TX 77002
Founded in 2012
Key Executives for LinnCo, LLC
Chairman of the Board, Chief Executive Officer and President
Chief Financial Officer and Executive Vice President
Chief Operating Officer and Executive Vice President
Senior Vice President, General Counsel and Corporate Secretary
Senior Vice President of Houston Division Operations
Compensation as of Fiscal Year 2017.
LinnCo, LLC Key Developments
Linn Co, LLC Files Form 15
Feb 28 17
Linn Co, LLC has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common shares representing limited liability company interests under the Securities Exchange Act of 1934, as amended.
LinnCo LLC Deleted From Other OTC
Feb 28 17
LinnCo LLC's common shares representing limited liability interests deleted from Other OTC, effective February 28, 2017. The deletion was due to bankruptcy plan effective/shares cancelled.
Fourth Revised Joint Reorganization Plan Approved for Berry Petroleum Company, LLC and LINN Acquisition Company, LLC
Jan 27 17
The US Bankruptcy Court approved the fourth revised joint amended reorganization plan of Berry Petroleum Company, LLC and LINN Acquisition Company, LLC on January 27, 2017. As per the plan, Berry Lender Claims shall receive either, if holder vote to accept the plan and elect to participate in the Berry Exit Facility or if voted against the plan then holder will get pro-rata share of Reorganized Berry Non-Conforming Term Notes. Berry Unsecured Notes Claims shall receive pro-rata share of Reorganized Berry Common Stock / Noteholder Distribution and to the extend aggregate amount of claim is less than $183 million, its pro-rata share of Reorganized Berry Common Stock. Berry General Unsecured Claims shall receive pro-rata share of Reorganized Berry Common Stock / General Distribution. Berry Intercompany Claims shall be canceled and released without any distribution. Berry Petroleum Company, LLC and LINN Acquisition Company, LLC filed revised amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on December 14, 2016. As per the revised plan, Allowed Other Berry Secured Claims has been estimated at $5.4 million with a recovery of 100%. Berry Lender Claims are estimated at $891.3 million and will get chance to participate in the Berry Exit Facility and will get Berry Lender Paydown, which will be funded through Rights Offering. Allowed Berry Unsecured Notes Claims has been estimated at $849 million with a recovery in the range of 47% to 52%. Allowed Berry General Unsecured Claims are estimated in the range of $109 million to $165 million and will get a recovery in the range of 21% to 46%. Berry Rights Offerings contemplate two separate rights offerings totaling $300 million, consisting of a $60 million first tranche Rights offering and $240 million second tranche Rights Offering for Reorganized Berry Preferred Stock. Berry unsecured note claims will have an estimated recovery in the range of 43% to 50%. Berry unsecured claims will have an estimated recovery of 21% to 46%. The plan will be funded from Berry reserve revolving loan facility of $550 million along with other Exit facility.
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