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LINN ENERGY LLC (LINE)

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LINN ENERGY : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

05/22/2014 | 04:25pm US/Eastern

Item 1.01. Entry into a Material Definitive Agreement.

Exchange Agreement

On May 21, 2014, Linn Energy, LLC (the "Company"), through two of its wholly-owned subsidiaries, entered into an definitive exchange agreement (the "Exchange Agreement") to trade certain oil and natural gas properties and related assets located primarily in the Permian Basin to Exxon Mobil Corporation and its affiliates, including its wholly-owned subsidiary XTO Energy Inc. (collectively, "ExxonMobil"), in exchange for certain of ExxonMobil's oil and natural gas properties and related assets in the Hugoton Basin, subject to closing conditions (the "Exchange"). The Company anticipates that the Exchange will close in the third quarter of 2014 with an effective date of June 1, 2014. There can be no assurance that all of the conditions to closing the Exchange will be satisfied.

The foregoing description of the Exchange Agreement does not purport to be complete and is qualified in its entirety by reference to the Exchange Agreement, a copy of which will be filed with the Company's Quarterly Report on Form 10-Q for the three months ended June 30, 2014. A copy of the press release announcing the Exchange is attached hereto as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.


(d) Exhibit.
99.1   Press Release of Linn Energy, LLC dated May 21, 2014.






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