LINN Energy, LLC (
) is up 0.25% to $41.29, pushing near its 52-week high of $41.76.
The company yesterday issued an after-hours update on its Q3
guidance and financial outlook for the full year 2012. Shares are
unmoved in late trade after clipping a new year high of $41.46 in
the regular session.
LINE said it anticipates the mid-point of its Q3 adjusted EBITDA
to be approximately $380 million and total production during the
quarter to be between 760 MMcfe/d and 780 MMcfe/d.
For the full-year 2012, LINN estimates the mid-point of adjusted
EBITDA to be approximately $1.365 billion. Furthermore, LINE is
updating its 2012 total production guidance to be between 660
MMcfe/d and 685 MMcfe/d.
The company also issued an update on well results associated
with its Hogshooter drilling program in the Granite Wash. During
the quarter, LINE drilled an additional nine operated horizontal
Hogshooter wells with an average initial production rate of 1,983
Bbls/d of oil, 534 Bbls/d of NGLs and 3.4 MMcf/d of natural gas per
well. To-date, the company has drilled and completed 12 Hogshooter
wells with an average initial production rate of 2,110 Bbls/d of
oil, 528 Bbls/d of NGLs and 3.4 MMcf/d of natural gas per well.
Shares have increased 13% in the last 12 months.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.