Linn Energy SEC inquiry sparks hedge accounting debate

Applied risk management series - part four

Until recently, Houston-based oil and gas firm Linn Energy was a darling of investors. Founded in 2003, it had grown by acquisition into one of the 15 largest independent exploration and production (E&P) companies in the US, boasting an array of assets across the country, from Texas to North Dakota. Linn had also drawn attention for being the largest upstream firm organised as a master limited partnership (MLP), a structure more commonly used by midstream companies, which are in the business of