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Santa Clarita Local Oil Field Owner & Linn Energy Set To Merge

Category: 

The proposal buyout of the Berry Petroleum Company who owns the Placerita oil field off of Sierra Highway among other oil and gas properties can go forward if shareholders approve the deal in December.


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The buyer is Linn Energy, a top-15 U.S. oil and gas producer.

The merger was stuck on hold while the SEC investigated Linn’s hedging practices.

The companies issued the following joint statement:

LINN Energy LLC, LinnCo LLC and Berry Petroleum Co. announced that the final Registration Statement on Form S-4 has been declared effective by the Securities and Exchange Commission, and the companies have also filed definitive proxy materials with the SEC.

The companies intend to commence mailing proxy materials in connection with the meetings of LINN Energy unitholders, LinnCo shareholders and Berry Petroleum stockholders for the purpose of voting on the previously announced merger agreement. LINN Energy, LinnCo and Berry Petroleum meetings will be held on Monday, December 16, 2013. The record date for the Companies’ respective unitholder, shareholder and stockholder meetings is November 14, 2013. More information regarding each Company’s meeting can be found below.

LinnCo Meeting Details:

Date: Monday, December 16, 2013

Time: 10:00 a.m. CST

Meeting location: 601 Travis Street, Houston, Texas 77002

LINN Energy Meeting Details:

Date: Monday, December 16, 2013

Time: 11:00 a.m. CST

Meeting location: 601 Travis Street, Houston, Texas 77002

Berry Petroleum Company Meeting Details:

Date: Monday, December 16, 2013

Time: 10:00 a.m. MST

Meeting location: Ritz Carlton Hotel, 1881 Curtis Street, Denver, Colorado 80202

About LINN Energy

LINN Energy’s mission is to acquire, develop and maximize cash flow from a growing portfolio of long-life oil and natural gas assets. LINN Energy is a top-15 U.S. independent oil and natural gas development company, with approximately 4.8 Tcfe of proved reserves in producing U.S. basins as of December 31, 2012. More information about LINN Energy is available at www.linnenergy.com.

About LinnCo

LinnCo was created to enhance LINN Energy’s ability to raise additional equity capital to execute on its acquisition and growth strategy. LinnCo is a Delaware limited liability company that has elected to be taxed as a corporation for United States federal income tax purposes, and accordingly its shareholders will receive a Form 1099 in respect of any dividends paid by LinnCo. More information about LinnCo is available at www.linnco.com.

About Berry Petroleum Company

Berry Petroleum Company is a publicly traded independent oil and natural gas production and exploitation company with operations in California, Texas, Utah, and Colorado. The company uses its website as a channel of distribution of material company information. Financial and other material information regarding the company is routinely posted on and accessible at http://www.bry.com.

Check out more stories about local and historic oil seeps in the Santa Clarita Valley!

 Press Release and Photos Courtesy of SCVNews


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Santa Clarita Local Oil Field Owner & Linn Energy Set To Merge


Article: Santa Clarita Local Oil Field Owner & Linn Energy Set To Merge
Source: Santa Clarita News
Author: Newsroom