HOUSTON, Oct. 28, 2013 (GLOBE NEWSWIRE) -- LINN Energy, LLC (Nasdaq:LINE) ("LINN" or "the Company") and LinnCo, LLC (Nasdaq:LNCO) ("LinnCo") announced today financial and operating results for the three months ended September 30, 2013, and outlook for the remainder of 2013. LINN reported the following third quarter 2013 results:
- Average daily production of 823 MMcfe/d compared to 782 MMcfe/d for the third quarter 2012;
- Oil, natural gas and NGL sales of approximately $538 million compared to $444 million for the third quarter 2012;
- Distributions paid to unitholders of $171 million compared to $145 million for the third quarter 2012;
- Excess of net cash provided by operating activities after distributions to unitholders and discretionary adjustments considered by the Board of Directors of $2 million compared to $57 million for the third quarter 2012 (see Schedule 1, footnote 7); and
- Net loss of approximately $30 million, or $0.13 per unit, compared to a net loss of $430 million, or $2.18 per unit, for the third quarter 2012, which includes non-cash changes in fair value of unsettled commodity derivatives of approximately $99 million, or $0.42 per unit, and $520 million, or $2.63 per unit, respectively, including the reduction of put option premium value over time.