Linn Energy LLC (LINE) & Warren Buffett, Exxon Mobil Corporation (XOM)’s Expansion, Chesapeake Energy Corporation (CHK) Gas Lease Deal

Editor’s Note: Exxon Mobil Corporation (NYSE:XOM), Chesapeake Energy Corporation (NYSE:CHK), Linn Energy LLC (NASDAQ:LINE), LinnCo LLC (NASDAQ:LNCO)

Exxon Eyes Expansion Of $19B Papua New Guinea LNG Project (Law360)
Exxon Mobil Corp. is already seeking to expand its liquefied natural gas plant in Papua New Guinea as its gargantuan $19 billion integrated gas project in the country nears completion, a senior Exxon Mobil executive told an Australian radio station Thursday. Exxon Mobil Corporation (NYSE:XOM) said earlier this week that the project — which includes the oil and gas giant’s plant at Port Moresby — is roughly 90 percent completed and will begin delivering natural gas to customers by the second half of 2014.

hedge fund research

What “Intrinsic Value” Might Warren Buffett Assign To Linn Energy Common Units? (Seeking Alpha)
Over the past several months, Linn Energy LLC (NASDAQ:LINE) and its sister company LinnCo LLC (NASDAQ:LNCO) have been the subject of intense debate in the media. Despite all of the debate, uncertainty about Linn’s true value seems to be higher than ever. After closing at $33.29 on July 1st, Linn’s unit price has dropped as low as $22 and change and bounced as high as a touch above $28. This extreme volatility begs the ultimate question – what is one unit of Linn truly worth? An interesting starting point in answering that question is to ask what “intrinsic value” Warren Buffett, chairman of Berkshire Hathaway (BRK.A), might place on Linn Energy LLC (NASDAQ:LINE)’s units using the valuation framework outlined in his 1986 letter to Berkshire shareholders on “owner earnings”.

Chesapeake New York gas lease deal expected next week (Reuters)
Chesapeake Energy Corporation (NYSE:CHK) will finalize an agreement next week to drop about 12,000 acres of land leased for energy drilling in New York state, as a moratorium on fracking continues into its sixth year. Reuters reported last month that Chesapeake decided to walk away from about 100 leases in Broome and Tioga Counties in the south of the state, ending a two-year legal battle with landowners who wanted to cancel expired leases or renegotiate for better terms. Lawyers representing Chesapeake Energy Corporation (NYSE:CHK) said in a letter to the U.S. Court of Appeals for the Second Circuit on Tuesday that they were in the final stages of negotiating a settlement and that a deal is expected to be made official next week.

In Exxon Pipeline Relocation Push, Zero Risk to Drinking Water Is the Goal (Inside Climate News)
Central Arkansas Water is fully aware that its push to relocate the compromised Pegasus pipeline out of its watershed will likely become a NIMBY issue. But that hasn’t stopped the utility from continuing its bulldog-like push for Exxon Mobil Corporation (NYSE:XOM) to remove 13.5 miles of mostly buried pipeline from the northern edge of Lake Maumelle. The man-made lake provides 67 million gallons of water per day to 400,000 residential, commercial and industrial customers in and around Little Rock.

Gas driller Chesapeake Energy Corp. to pay $7.5M to settle Pa. leaseholders’ complaint (Tribune-Review)
Chesapeake Energy Corporation (NYSE:CHK) has agreed to pay $7.5 million to settle a class-action complaint by Pennsylvania leaseholders who claimed the gas driller shorted them on royalty payments by making unauthorized deductions for some expenses. The settlement covers thousands of landowners, including some in Western Pennsylvania, who accused the company of recouping post-production expenses from their royalties. Pennsylvania law allows these deductions, but the landowners say their contracts with Chesapeake Energy Corporation (NYSE:CHK) prohibited them.

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!