Linn Energy, LLC has been paying royalties to my parents for their minerals in two different sections in Grady County. They filed for bankruptcy protection last year, and the final plan has been just recently approved by US Bankruptcy court in the southern district of Texas. Can anyone affected by this chapter 11 filing please share any information about how, if any, this may have affected their mineral rights and royalty payments.
In general, the mineral rights are protected in a bankruptcy, so no changes for a mineral owner. I have been getting my payments from Linn just fine.
In some bankruptcy cases, the assets are sold to another company, but again, you will get paid by the new company.
Looks like they are combining assets with Citizen Energy II to create Roan Resources LLC.
http://newsok.com/energy-companies-combine-oklahoma-assets-to-form-roan-resources/article/5554555
I have reached the same conclusion and am no longer concerned about the status of their mineral rights. I have requested copies of leases from Linn on my parents mineral rights and hope that I do not have to wait forever. Thanks for the reply and the additional information about the merger with Citizen Energy.
I only get paid every couple of months because the amounts are below $100. They accrue up to that amount and then pay. Good idea to get the leases for your records. You can check the status of Thelma at the Oklahoma tax site to see if they are still in production.