LinnCo LLC said April 26 that it completed its offer to exchange each outstanding unit of LINN Energy LLC (NASDAQ: LINE) for one LinnCo share.
The exchange offer expired April 25.
American Stock Transfer & Trust Co., the exchange agent, advised LinnCo. that about 103.9 million LINN units, representing about 29% of the total outstanding LINN units, were tendered.
There is a subsequent offering period begun April 26 that will expire May 23, for LINN unitholders to tender offers and receive the same exchange ratio as under the original offer.
Recommended Reading
Spate of New Contracts Boosts TechnipFMC's Subsea Profits
2024-04-30 - TechnipFMC's operational profits are growing as the company heightened its focus on “quality” subsea orders, which earned $2.4 billion for the first quarter.
Message in a Bottle: Tracing Production from Zone to Wellhead
2024-04-30 - New tracers by RESMAN Energy Technology enable measurement while a well is still producing.
Defeating the ‘Four Horsemen’ of Flow Assurance
2024-04-18 - Service companies combine processes and techniques to mitigate the impact of paraffin, asphaltenes, hydrates and scale on production—and keep the cash flowing.
Tech Trends: AI Increasing Data Center Demand for Energy
2024-04-16 - In this month’s Tech Trends, new technologies equipped with artificial intelligence take the forefront, as they assist with safety and seismic fault detection. Also, independent contractor Stena Drilling begins upgrades for their Evolution drillship.
AVEVA: Immersive Tech, Augmented Reality and What’s New in the Cloud
2024-04-15 - Rob McGreevy, AVEVA’s chief product officer, talks about technology advancements that give employees on the job training without any of the risks.