NASDAQ: LINE
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Operations

LINN Energy has a diverse U.S. asset base with core focus areas in the Rockies, the Hugoton Basin, California, east Texas and north Louisiana (“TexLa”), the Mid-Continent, the Permian Basin, Michigan, Illinois and south Texas.

As of December 31, 2014, LINN Energy had approximately 28,000 gross productive oil and natural gas wells and an average proved reserve-life index of approximately 17 years. Additionally, the Company had approximately 7.3 Tcfe of proved reserves, of which approximately 58 percent were natural gas, 28 percent were oil and 14 percent were NGL. During 2014, LINN spent approximately $1.5 billion on its oil and natural gas capital program, drilling 918 gross wells and completing numerous workover and recompletion projects. Approximately one third of this capital was spent on assets the Company sold or traded in 2014. During the year, the Company spent approximately $820 million to convert 446 Bcfe of proved undeveloped reserves ("PUDs") to proved developed status at a cost of approximately $1.84 per Mcfe. Total reserve replacement for 2014 was 549 percent at a cost of approximately $2.09 per Mcfe. In 2015, the Company anticipates spending approximately $520 million on oil and natural gas projects. The Company also plans to spend approximately $80 million on plant, pipeline and other projects during the year. The 2015 capital budget focuses on a well-diversified mix of development and optimization projects, including steam flood development and enhancement in California, as well as efficient optimization, workover and recompletion opportunities across the Company's portfolio.