- Linn Energy (LINE) +6% premarket on news that energy-focused P-E firm Quantum Energy Partners agrees to commit an initial $1B in equity capital to form a strategic partnership with Linn to fund oil and gas acquisitions.
- Linn will manage the assets and hold stakes ranging from 15% to 50%, and says the direct working interests plus the $1B equity commitment could result in the potential to exceed $2.5B of acquisition and development funding from the strategic alliance.
- Quantum was the founding investor in Linn, now the largest energy producer set up to pay available cash to shareholders and avoid corporate taxes.