updated 9/9/2010 12:16:01 AM ET 2010-09-09T04:16:01

HOUSTON, Sept. 8, 2010 (GLOBE NEWSWIRE) -- LINN Energy, LLC (Nasdaq:LINE) and its wholly owned subsidiary, Linn Energy Finance Corp., announced today a private offering to eligible purchasers of $1 billion in aggregate principal amount of 7.75% senior unsecured notes due 2021 at an offering price equal to 98.264% of par. LINN Energy intends to use the majority of the net proceeds from the notes offering to reduce debt under its revolving credit facility. Additionally, a portion of the proceeds from the sale of the notes will be used to unwind certain interest rate swaps. The offering is expected to close on September 13, 2010, subject to satisfaction of customary closing conditions.

The notes to be offered have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the notes nor shall there be any sale of the notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

The LINN Energy logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6573

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