Mike Linn Discusses The Upstream MLPs And Others’ IDRs
Listen to my interview from NAPE with Mike Linn
We visited with Mike Linn, chairman and CEO of Linn Energy LLC, at NAPE Expo 2008. Here are his comments on capital access by the upstream MLPs in the coming year, and on why Linn Energy doesn’t use IDRs.
Here’s an excerpt: “The marketplace isn’t ready for (more MLPs) at this time. They want to see what happens to the last-year and year-before MLPs…how companies like ours converts from a private-equity majority holder to a retail investor. When we went public (in January 2006), we were 70% retail and 30% institutional. Now, we’re the opposite….”
–Nissa Darbonne, Executive Editor, Oil and Gas Investor, A&D Watch, Oil and Gas Investor This Week
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February 20th, 2008 at 2:03 pm
I love being able to hear the audio interview! What an ingenious addition to your blog, Nissa!
February 21st, 2008 at 5:53 pm
The marketplace is not the only place where there is some skepticism about new MLPs, at least the upstream kind. Hallie Vanderhider, new president and COO of Black Stone Minerals Co. LP in Houston, spoke recently to the Houston Energy Finance Group about Black Stone’s activities.
She mentioned that in 2007 the company considered an MLP IPO but decided against it for market reasons, and because it would not be accretive.