I am concerned because of the situation Linn Energy is experiencing. I am an Owner. I don't own stock. If Linn Energy goes under....What happens to the property? Do I have to find another company? I also receive royalties from Merit Energy. Would they be an option? I really am clueless as to what may happen and how I should prepare for it. I really appreciate any input on this. Thank you for your time!
If Linn goes bankrupt, then the Creditors will (under the Bankruptcy Court’s supervision) auction off the assets to the highest qualified bidder. Whoever gets the wells will still be bound by the terms of your lease. Also, while all of this is taking place, which could be a year or more, the Court will appoint a Trustee who will make sure that all royalties continue to be paid.
Wow....Thank you so much. I appreciate your reply more than you know- I am certain of what to expect and that is what I needed. Great information- Now for the journey!!!