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Linn Energy's CEO Discusses Q2 2012 Results - Earnings Call Transcript





Linn Energy, LLC (LINE)

Q2 2012 Earnings Call

July 26, 2012 11:00 a.m. ET

Executives

Mark Ellis – Chairman, President & CEO

Clay Jeansonne, VP – IR

Arden Walker – EVP & COO



Analysts



John Ragozzino -- RBC Capital Markets

Kevin Smith – Raymond James

Ethan Bellamy – Baird

Boris Pialloux -- National Securities

Bernard Colson -- Global Hunter

Jason Gilbert -- Goldman Sachs

Adam Leight -- RBC Capital Market

Michael Peterson -- MLV & Company

Eric Anderson -- Hearthford Financial

Kenneth Miller -- KC Capital Management



Presentation

Operator



Good morning. Welcome to LINN Energy Second Quarter 2012 Earnings Conference Call. Todays call is being recorded.

At this time I would turn the call over to Clay Jeansonne, LINN Energys Vice President of Investor Relations for some opening remarks. Please go ahead.

Clay Jeansonne

Thank you for joining our second quarter 2012 earnings conference call. In a moment, Ill introduce Mark Ellis, our Chairman, President, and Chief Executive Officer. But I first need to provide you with disclosure regarding forward-looking statements that will be made during this call.

The statements describing our beliefs, goals, plans, strategies, expectations, projections, forecasts, and assumptions are forward-looking statements. Please note that the companys actual results may differ from those anticipated by such forward-looking statements for a variety of reasons, many of which are beyond our control.

Additional information concerning certain risk factors relating to our business, prospects and results is available in the companys filings with the SEC, including our Form 10-Q for quarter ended June 30th, 2012, which will be filed today, and any other public filings and press releases.

Additionally, during the course of todays discussion, management will refer to adjusted EBITDA as an important metric for evaluating the companys performance. Please note that adjusted EBITDA is a non-GAAP financial measure which is reconciled to the most directly comparable GAAP measure in the earnings press release issued this morning.

Supplemental financials and operational information, including the companys statement of operations, selected balance sheet data and guidance table has been posted to LINN Energy website at www.linnenergy.com in the Investor Center on the presentation.

Following managements prepared remarks, well take your questions.

Ill now turn the call over to Mark.

Mark Ellis

Thanks, Clay, and good morning. Joining us today in Houston are Kolja Rockov, LINNs Executive Vice President and Chief Financial Officer, and Arden Walker, LINNs Executive Vice President and Chief Operating Officer.

I will – that a year ago our core strategy requiring material long life assets. Year-to-date we have announced the acquisitions in joint venture agreements totaling approximately $2.8 billion, nearly exceeding total acquisitions for 2010 and 2011 combined.

Stock quotes in this article: LINE 

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