TEXT - S&P affirms Linn Energy

Nov 29 - Standard & Poor's Ratings Services today affirmed its 'B' issue
rating (one notch below the corporate credit rating) on Linn Energy LLC's
senior unsecured debt and removed the rating from CreditWatch with
negative implications.

The recovery rating on the senior unsecured debt is '5', indicating our
expectation that lenders would receive modest (10% to 30%) recovery in the
event of a payment default. We took these ratings off CreditWatch following a
review of the recovery prospects of Linn's unsecured debt using the PV-10
value of its proved reserves, including all year-to-date acquisitions, based
on our revised recovery price assumptions of $50 per barrel West Texas
Intermediate (WTI) crude oil and $3.50 per mmBtu natural gas.

The ratings on Linn Energy LLC reflect the company's "fair" business risk and
"aggressive" financial risk profiles. These assessments reflect Linn's growing
midsize reserve base, elevated financial leverage, and substantial quarterly
distributions to unitholders. Also, impacting ratings are the low geological
risk inherent in the company's reserve base, a balanced production mix between
natural gas and liquids, and substantial commodity price hedges to minimize
cash flow volatility.

RELATED RESEARCH AND CRITERIA
-- Key Credit Factors: Global Criteria For Rating The Oil And Gas
Exploration And Production Industry, Jan. 20, 2012
-- Revised Assumptions For Assigning Recovery Ratings To The Debt Of Oil
And Gas Exploration and Production Companies, Sept. 14, 2012
-- Recovery Price Deck For Exploration And Production Companies Revised,
Sept. 14, 2012

RATINGS LIST
Linn Energy LLC
Corporate credit rating B+/Stable/--

Ratings Off CreditWatch
Linn Energy LLC
Linn Energy Finance Corp.
To From
Senior Unsecured B B/Watch Neg
Recovery rating 5 5