LinnCo, LLC Announces the Estimated Tax Characteristics of 2015 Cash Distributions and Estimated 2016 Cash Tax Liability

HOUSTON, Jan. 18, 2016 (GLOBE NEWSWIRE) -- LinnCo, LLC (Nasdaq:LNCO) and LINN Energy, LLC (Nasdaq:LINE) announced today the estimated federal income tax characteristics of its 2015 cash distributions to holders of its common shares. 

The table below describes the distributions made by the company in 2015 and the estimated reporting of such payments on United States Internal Revenue Service ("IRS") Form 1099-DIV. The company is releasing information at this time to aid banks, brokerage firms, and institutional investors that are required to issue Form 1099s to their account holders. The final determination of the tax characteristics of 2015 cash distributions is not expected to be made until mid-March 2016, and at that time the company will announce the final tax characteristics and post the corrected Form 8937 (if applicable).

LinnCo, LLC – Common Shares (CUSIP: 535782-10-6)

In accordance with IRS Code Section 6045B, a company is required to file Form 8937, Report of Organizational Actions Affecting Basis of Securities, following any action that affects basis. At this time, there is no estimated impact to basis, thus the Company is not required to file Form 8937.

Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of LinnCo, LLC cash distributions.  For additional information, contact LinnCo’s Investor Relations Department. 

LinnCo and Other Unitholders of LINE Estimated 2016 Cash Tax Liability

Unitholders of LINE are required to pay taxes on their share of LINE’s taxable income, including their share of ordinary income and capital gain upon dispositions of properties by LINE or cancellation of debt, even if they do not receive any cash distributions from LINE. For example, LINE’s 2015 senior notes exchanges and repurchases of outstanding senior notes at prices lower than face amount resulted, and any similar transactions in the future will result, in the cancellation of debt income that will be allocated to LINE unitholders.

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.

SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS

This press release includes "forward-looking statements." All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes, targets or anticipates will or may occur in the future are forward-looking statements. These statements include, but are not limited to forward-looking statements about balance sheet management, acquisitions, divestitures and trades, potential strategic alliances, timing and payment of distributions, and the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company, including the Company's drilling program, production, hedging activities, capital expenditure levels and other guidance included in this press release. These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks relating to financial performance and results, the significant amount of indebtedness under our credit facilities and senior notes, access to capital markets, availability of sufficient cash flow to execute our business plan, implementation of our expense reduction strategy, continued low or further declining commodity prices and demand for oil, natural gas and natural gas liquids, ability to hedge future production, the ability to replace reserves and efficiently develop current reserves, the regulatory environment, and other important factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements.  See "Risk Factors" in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other public filings.

Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.

CONTACTS:
LINN ENERGY, LLC

Investors & Media:

Clay Jeansonne, Vice President – Investor Relations
(281) 840-4193

Sarah Nordin, Public Relations & Media
(713) 904-6605