J.P. Morgan, Citigroup, Others Support Valorem Williston Buy

Valorem Energy completed its acquisition of LINN Energy’s Williston Basin interests for $285 million. J.P. Morgan, Citigroup Global Markets and Wells Fargo Securities served as joint lead arrangers for debt financing.

RBC Agents $500MM LINN Energy Facility

LINN Energy entered into a new $500 million senior secured reserve-based revolving credit facility with Royal Bank of Canada as administrative agent.

Linn Energy Files Chapter 11; Wells Fargo to Agent $2.2B Exit Financing

Oil and gas producer Linn Energy filed for Chapter 11 bankruptcy after reaching a deal with lenders to restructure its debt load and obtain $2.2 billion of new financing from a lender group led by Wells Fargo as administrative agent.

Wells Fargo Agents LINN Energy, Berry Petroleum Amendments

LINN Energy amended its credit facilities with a lender group led by Wells Fargo as administrative agent. LINN also closed a related amendment for Berry Petroleum, a wholly owned subsidiary.

Drawdowns Raise Concerns About Banks’ Energy Exposure

The Wall Street Journal examined struggling oil and gas companies that are maxing out revolving credit lines typically used to cover short-term funding gaps, raising fresh concerns about banks’ exposure to the decline in energy prices.

LINN Energy Explores Alternatives; Draws Balance of Wells Fargo Facility

LINN Energy has initiated a process to explore strategic alternatives to strengthen its balance sheet. The company has borrowed the remaining undrawn amount under its $3.6 billion facility with a bank group led by Wells Fargo as administrative agent.

Barclays Advising Linn Energy on Debt Options

According to Reuters, Linn Energy is looking into distressed restructuring options with Barclays with low oil and natural gas prices hurting its ability to service $10 billion of debt after next year.

Wells Fargo Agents $400MM Reduction of LINN Energy Borrowing Base

Following a recent 2015 borrowing base redetermination, LINN Energy said its borrowing base has been reduced from $4.05 billion to $3.6 billion. The lender group was led by Wells Fargo as administrative agent.