LINN Energy, LLC (LINE) Thursday said fourth-quarter net loss narrowed to $155 million, or $0.47 per unit, from $785 million, or $3.15 per unit in the prior year.
The latest results include non-cash impairment charges of $5.16 per unit, and non-cash gains related to changes in fair value of unsettled commodity derivatives of approximately $3.70 per unit.
In the prior year, results included non-cash impairment charges of $3.16 per unit, and non-cash losses related to changes in fair value of unsettled commodity derivatives of approximately $0.18 per unit.
Average daily production climbed 53 percent to 1,358 MMcfe/d from 889 MMcfe/d for the fourth quarter of 2013.
Additionally, LINN revised its 2015 oil and natural gas capital budget to about $520 million from the prior level of $730 million.
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