HOUSTON, Sept. 20, 2018 (GLOBE NEWSWIRE) — LINN Energy, Inc. (OTCQB: LNGG) (“LINN” or the “Company”) announces that is has acquaint on its website IRS Form 8937 apropos the estimated federal assets tax characteristics of its aftereffect of Riviera Resources, Inc. (“Riviera”) from LINN (the “Spin-Off”) that was completed on August 7, 2018.
As ahead disclosed, the Spin-Off was a taxable distribution. LINN stockholders who captivated LINN accepted b on August 3, 2018 (the “record date”) accustomed a administration of one allotment of Riviera accepted b for anniversary allotment of LINN accepted b captivated on the almanac date. In accordance with IRS Code Section 6045B, the aggregation was appropriate to book Form 8937, Report of Organizational Actions Affecting Basis of Securities, aural 45 canicule of the distribution. The Form includes added admonition apropos the distribution, including an adapted appraisal of the bulk of LINN’s balance and profits and LINN’s assurance of the amount of the broadcast Riviera accepted stock.
The aggregation is absolution admonition at this time to aid banks, allowance firms, and institutional investors that are appropriate to affair Form 1099s to their annual holders. The estimated assurance of the tax characteristics of the Spin-Off are provided on Form 8937 which is acquaint and accessible on the company’s website at www.linnenergy.com.
The absolute U.S. federal assets tax after-effects of the administration are declared in detail in Riviera’s Registration Statement on Form S-1 (File No. 333-225927) beneath “Material U.S. Federal Assets Tax After-effects of the Spin-Off.” Admonition apropos tax affairs in this columnist absolution is for accepted admonition purposes alone and does not aggregate tax advice. STOCKHOLDERS ARE ENCOURAGED TO CONSULT THEIR OWN TAX ADVISORS REGARDING THE PARTICULAR TAX CONSEQUENCES OF THE SPIN-OFF TO THEM.
ABOUT LINN ENERGYLINN Energy, Inc., headquartered in Houston, Texas, is currently focused on the development of the Merge/ SCOOP/ STACK in Oklahoma through its disinterestedness absorption in Roan Resources, LLC.
ABOUT RIVIERA RESOURCESRiviera Resources, Inc. is an absolute oil and accustomed gas aggregation with a cardinal focus on calmly operating its complete low-decline assets, developing its growth-oriented assets, and abiding basic to its stockholders. Riviera’s backdrop are amid in the Hugoton Basin, East Texas, North Louisiana, Michigan/Illinois, the Uinta Basin and Mid-Continent regions. Riviera additionally owns Blue Mountain Midstream LLC, a midstream aggregation centered in the amount of the Merge comedy in the Anadarko Basin. More admonition about Riviera and Blue Mountain Midstream LLC is accessible at the Company’s website, www.RivieraResourcesInc.com.
CONTACT:LINN Energy, Inc.Investor Relations(281) [email protected]
Forward-Looking StatementsStatements fabricated in this columnist absolution that are not absolute facts are “forward-looking statements.” These statements are based on assertive assumptions and expectations fabricated by LINN and Riviera, which reflect LINN’s or Riviera’s management’s experience, estimates and acumen of absolute trends, accepted altitude and advancing approaching developments. Such statements are accountable to a cardinal of assumptions, risks and uncertainties, abounding of which are above the ascendancy of LINN and Riviera, which may account absolute after-effects to alter materially from those adumbrated or advancing in the advanced statements. These accommodate risks apropos to uncertainties accompanying to LINN’s and Riviera’s adeptness to apprehend the advancing allowances of the Spin-Off, the abeyant abrogating furnishings of the Spin-Off, the availability of acceptable banknote breeze to assassinate our business plan, connected low or added crumbling article prices and appeal for oil, accustomed gas and accustomed gas liquids, adeptness to barrier approaching production, adeptness to alter affluence and calmly advance accepted reserves, the accommodation and appliance of midstream accessories and the authoritative environment. These and added important factors could account absolute after-effects to alter materially from those advancing or adumbrated in the advanced statements. Please apprehend “Risk Factors” in LINN’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and added accessible filings as able-bodied as the accident factors in Riviera’s Registration Statement on Form S-1. We undertake no obligation to about amend any advanced statements, whether as a aftereffect of new admonition or approaching events.
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