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LINN Energy Announces Notice Of Change Of Control And Offer To Purchase Berry Petroleum's Senior Notes

HOUSTON, Jan. 15, 2014 (GLOBE NEWSWIRE) -- LINN Energy, LLC (Nasdaq:LINE) and LinnCo, LLC (Nasdaq:LNCO) announced today that LINN Energy (the "Company") is offering (the "Offer") to purchase all of the outstanding 10.25% Senior Notes due 2014, 6.75% Senior Notes due 2020 and 6.375% Senior Notes due 2022 (collectively, the "Notes") of Berry Petroleum Company, LLC ("Berry"). On December 16, 2013, Berry became a wholly-owned subsidiary of LINN Energy, which constituted a Change of Control (as defined in the indenture governing each series of the Notes). Pursuant to the terms of the Notes, following a Change of Control, Berry is required to make an offer to purchase all or a portion of each series of Notes at a price of 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest to, but not including, the date of purchase (the "Change of Control Payment"). The Company has today offered to purchase for the Change of Control Payment all of Berry's outstanding Notes at the price described above. Any Notes that remain outstanding after consummation of the Offer will continue to be obligations of Berry under the indentures governing each series of the Notes.

The Notice and the terms and conditions of the Offer are included in the Notice of Change of Control and Offer to Purchase dated January 15, 2014 and related Letter of Transmittal to be distributed to holders of the Notes.

The Offer will expire at 9:00 a.m., New York City time, on February 14, 2014, unless extended (such time and date, as the same may be extended, the "Expiration Date"). Holders must validly tender their Notes at or prior to the Expiration Date to be eligible to receive the Change of Control Payment.

The Company has retained D.F. King & Co., Inc. to act as the Tender Agent. Questions and requests for additional documents may be directed to the Tender Agent in writing at 48 Wall Street – 22nd Floor, New York, New York 10005. 

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