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| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|-----------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|------------------------------------------------------------------------------------------|

|                                                                          |                             |
|-------------------------------------------------------------------------------|----------------------------------|
| Delaware                                                                      | 65-1177591                       |
| (State or other jurisdiction of incorporation ororganization)                 | (IRS EmployerIdentification No.) |
|                                                                          |                             |
| 600 Travis, Suite 5100Houston, Texas                                          |  77002                      |
| (Address of principal executive offices)                                      | (Zip Code)                       |
|                                                                          |
| (281) 840-4000(Registrant’s telephone number, including area code) |

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TABLE OF CONTENTS

|     |                                                                                                                    | Page   |
|----------|-------------------------------------------------------------------------------------------------------------------------|--------|
|     |                                                                                                                    |   |   |
|     | Glossary of Terms                                                                                                       | ii     |   |
|     |                                                                                                                    |   |   |
|     | Part I - Financial Information                                                                                          |   |   |
| Item 1.  | Financial Statements                                                                                                    |   |   |
|     | Condensed Consolidated Balance Sheets as of March 31, 2010, and December 31, 2009                             | 1      |   |
|     | Condensed Consolidated Statements of Operations for the three months ended March 31, 2010, and March 31, 2009 | 2      |   |
|     | Condensed Consolidated Statement of Unitholders’ Capital for the three months ended March 31, 2010           | 3      |   |
|     | Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2010, and March 31, 2009 | 4      |   |
|     | Notes to Condensed Consolidated Financial Statements                                                                    | 5      |   |
| Item 2.  | Management’s Discussion and Analysis of Financial Condition and Results of Operations                             | 19     |   |
| Item 3.  | Quantitative and Qualitative Disclosures About Market Risk                                                              | 35     |   |
| Item 4.  | Controls and Procedures                                                                                                 | 36     |   |
|     |                                                                                                                    |   |   |
|     | Part II - Other Information                                                                                             |   |   |
| Item 1.  | Legal Proceedings                                                                                                       | 37     |   |
| Item 1A. | Risk Factors                                                                                                            | 37     |   |
| Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds                                                             | 38     |   |
| Item 3.  | Defaults Upon Senior Securities                                                                                         | 38     |   |
| Item 4.  | Reserved                                                                                                                | 38     |   |
| Item 5.  | Other Information                                                                                                       | 38     |   |
| Item 6.  | Exhibits                                                                                                                | 39     |   |
|     |                                                                                                                    |   |   |
|     | Signature                                                                                                               | 40     |   |

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Table of Contents

GLOSSARY OF TERMS

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Table of Contents

PART I – FINANCIAL INFORMATION

Item 1.Financial Statements

LINN ENERGY, LLC

|                                                                                                                            |   | March 31,                          |      | December 31, |
|---------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|-----------|-------------------|
|                                                                                                                            |   | 2010                               |      | 2009              |
|                                                                                                                            |   | (Unaudited)                        |      |              |   |
|                                                                                                                            |   | (in thousands,except unit amounts) |
| ASSETS                                                                                                                          |   |                               |      |
| Current assets:                                                                                                                 |   |                               |      |              |   |   |
| Cash and cash equivalents                                                                                                       |   | $                                  | 16,129    |              |   | $ | 22,231 |   |
| Accounts receivable – trade, net                                                                                          |   |                               | 126,329   |              |   |   | 109,311 |   |
| Derivative instruments                                                                                                          |   |                               | 299,136   |              |   |   | 249,756 |   |
| Other current assets                                                                                                            |   |                               | 24,474    |              |   |   | 28,162 |   |
| Total current assets                                                                                                            |   |                               | 466,068   |              |   |   | 409,460 |   |
|                                                                                                                            |   |                               |      |              |   |   |   |   |
| Noncurrent assets:                                                                                                              |   |                               |      |              |   |   |   |   |
| Oil and natural gas properties (successful efforts method)                                                                      |   |                               | 4,255,310 |              |   |   | 4,076,795 |   |
| Less accumulated depletion and amortization                                                                                     |   |                               | (509,181  | )                 |   |   | (463,413 | ) |
|                                                                                                                            |   |                               | 3,746,129 |              |   |   | 3,613,382 |   |
|                                                                                                                            |   |                               |      |              |   |   |   |   |
| Other property and equipment                                                                                                    |   |                               | 121,607   |              |   |   | 118,867 |   |
| Less accumulated depreciation                                                                                                   |   |                               | (26,350   | )                 |   |   | (23,583 | ) |
|                                                                                                                            |   |                               | 95,257    |              |   |   | 95,284 |   |
|                                                                                                                            |   |                               |      |              |   |   |   |   |
| Derivative instruments                                                                                                          |   |                               | 126,845   |              |   |   | 145,457 |   |
| Other noncurrent assets                                                                                                         |   |                               | 120,591   |              |   |   | 76,673 |   |
|                                                                                                                            |   |                               | 247,436   |              |   |   | 222,130 |   |
| Total noncurrent assets                                                                                                         |   |                               | 4,088,822 |              |   |   | 3,930,796 |   |
| Total assets                                                                                                                    |   | $                                  | 4,554,890 |              |   | $ | 4,340,256 |   |
|                                                                                                                            |   |                               |      |              |   |   |   |   |
| LIABILITIES AND UNITHOLDERS’ CAPITAL                                                                                      |   |                               |      |              |   |   |   |   |
| Current liabilities:                                                                                                            |   |                               |      |              |   |   |   |   |
| Accounts payable and accrued expenses                                                                                           |   | $                                  | 137,945   |              |   | $ | 124,358 |   |
| Derivative instruments                                                                                                          |   |                               | 47,901    |              |   |   | 51,025 |   |
| Other accrued liabilities                                                                                                       |   |                               | 26,575    |              |   |   | 33,922 |   |
| Total current liabilities                                                                                                       |   |                               | 212,421   |              |   |   | 209,305 |   |
|                                                                                                                            |   |                               |      |              |   |   |   |   |
| Noncurrent liabilities:                                                                                                         |   |                               |      |              |   |   |   |   |
| Credit facility                                                                                                                 |   |                               | 905,000   |              |   |   | 1,100,000 |   |
| Senior notes, net                                                                                                               |   |                               | 489,176   |              |   |   | 488,831 |   |
| Derivative instruments                                                                                                          |   |                               | 54,691    |              |   |   | 53,923 |   |
| Other noncurrent liabilities                                                                                                    |   |                               | 38,851    |              |   |   | 36,193 |   |
| Total noncurrent liabilities                                                                                                    |   |                               | 1,487,718 |              |   |   | 1,678,947 |   |
|                                                                                                                            |   |                               |      |              |   |   |   |   |
| Unitholders’ capital:                                                                                                     |   |                               |      |              |   |   |   |   |
| 147,820,443 units and 129,940,617 units issued and outstanding at March 31, 2010, and December 31, 2009, respectively |   |                               | 2,436,036 |              |   |   | 2,098,599 |   |
| Accumulated income                                                                                                              |   |                               | 418,715   |              |   |   | 353,405 |   |
|                                                                                                                            |   |                               | 2,854,751 |              |   |   | 2,452,004 |   |
| Total liabilities and unitholders’ capital                                                                                |   | $                                  | 4,554,890 |              |   | $ | 4,340,256 |   |

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LINN ENERGY, LLC

|                                                  |   | Three Months EndedMarch 31,        |
|-------------------------------------------------------|--------|-----------------------------------------|
|                                                  |   | 2010                                    |   | 2009 |
|                                                  |   | (in thousands, except per unit amounts) |
| Revenues and other:                                   |   |                                    |   |   |   |   |
| Oil, natural gas and natural gas liquid sales         |   | $                                       | 149,386 |   |   | $ | 79,864 |   |
| Gain on oil and natural gas derivatives               |   |                                    | 96,003 |   |   |   | 161,315 |   |
| Natural gas marketing revenues                        |   |                                    | 1,394 |   |   |   | 516 |   |
| Other revenues                                        |   |                                    | 253 |   |   |   | 966 |   |
|                                                  |   |                                    | 247,036 |   |   |   | 242,661 |   |
| Expenses:                                             |   |                                    |   |   |   |   |   |   |
| Lease operating expenses                              |   |                                    | 31,222 |   |   |   | 33,732 |   |
| Transportation expenses                               |   |                                    | 4,620 |   |   |   | 2,967 |   |
| Natural gas marketing expenses                        |   |                                    | 969 |   |   |   | 340 |   |
| General and administrative expenses                   |   |                                    | 24,488 |   |   |   | 23,301 |   |
| Exploration costs                                     |   |                                    | 3,861 |   |   |   | 1,565 |   |
| Bad debt expenses                                     |   |                                    | 189 |   |   |   | — |   |
| Depreciation, depletion and amortization              |   |                                    | 49,191 |   |   |   | 52,104 |   |
| Taxes, other than income taxes                        |   |                                    | 10,200 |   |   |   | 7,567 |   |
| (Gain) loss on sale of assets and other, net          |   |                                    | (322 | ) |   |   | (26,711 | ) |
|                                                  |   |                                    | 124,418 |   |   |   | 94,865 |   |
| Other income and (expenses):                          |   |                                    |   |   |   |   |   |   |
| Interest expense, net of amounts capitalized          |   |                                    | (27,653 | ) |   |   | (14,409 | ) |
| Loss on interest rate swaps                           |   |                                    | (23,162 | ) |   |   | (11,571 | ) |
| Other, net                                            |   |                                    | (601 | ) |   |   | (393 | ) |
|                                                  |   |                                    | (51,416 | ) |   |   | (26,373 | ) |
| Income from continuing operations before income taxes |   |                                    | 71,202 |   |   |   | 121,423 |   |
| Income tax expense                                    |   |                                    | (5,892 | ) |   |   | (136 | ) |
| Income from continuing operations                     |   |                                    | 65,310 |   |   |   | 121,287 |   |
|                                                  |   |                                    |   |   |   |   |   |   |
| Discontinued operations:                              |   |                                    |   |   |   |   |   |   |
| Loss on sale of assets, net of taxes                  |   |                                    | — |   |   |   | (1,048 | ) |
| Loss from discontinued operations, net of taxes       |   |                                    | — |   |   |   | (838 | ) |
|                                                  |   |                                    | — |   |   |   | (1,886 | ) |
| Net income                                            |   | $                                       | 65,310 |   |   | $ | 119,401 |   |
|                                                  |   |                                    |   |   |   |   |   |   |
| Income per unit – continuing operations:        |   |                                    |   |   |   |   |   |   |
| Basic                                                 |   | $                                       | 0.50 |   |   | $ | 1.06 |   |
| Diluted                                               |   | $                                       | 0.50 |   |   | $ | 1.06 |   |
| Loss per unit – discontinued operations:        |   |                                    |   |   |   |   |   |   |
| Basic                                                 |   | $                                       | — |   |   | $ | (0.02 | ) |
| Diluted                                               |   | $                                       | — |   |   | $ | (0.02 | ) |
| Net income per unit:                                  |   |                                    |   |   |   |   |   |   |
| Basic                                                 |   | $                                       | 0.50 |   |   | $ | 1.04 |   |
| Diluted                                               |   | $                                       | 0.50 |   |   | $ | 1.04 |   |
| Weighted average units outstanding:                   |   |                                    |   |   |   |   |   |   |
| Basic                                                 |   |                                    | 129,533 |   |   |   | 113,473 |   |
| Diluted                                               |   |                                    | 129,922 |   |   |   | 113,502 |   |
|                                                  |   |                                    |   |   |   |   |   |   |
| Distributions declared per unit                       |   | $                                       | 0.63 |   |   | $ | 0.63 |   |

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LINN ENERGY, LLC

|                                                                 |   | Units          |    | Unitholders’Capital |   | AccumulatedIncome |      | TreasuryUnits(at Cost) |   | TotalUnitholders’Capital |
|----------------------------------------------------------------------|--------|----------------|---------|---------------------------|--------|-------------------|-----------|------------------------|--------|--------------------------------|
|                                                                 |   | (in thousands) |
|                                                                 |   |           |    |                      |   |              |      |                   |   |                           |   |   |   |   |   |
| December 31, 2009                                               |   |           | 129,941 |                      |   | $                 | 2,098,599 |                   |   | $                              | 353,405 |   |   | $ | ― |   |   | $ | 2,452,004 |   |
| Sale of units, net of underwriting discounts and expenses of $17,633 |   |           | 17,250  |                      |   |              | 413,617   |                   |   |                           | — |   |   |   | — |   |   |   | 413,617 |   |
| Issuance of units                                                    |   |           | 638     |                      |   |              | 434       |                   |   |                           | — |   |   |   | — |   |   |   | 434 |   |
| Cancellation of units                                                |   |           | (9      | )                         |   |              | (252      | )                      |   |                           | — |   |   |   | 252 |   |   |   | — |   |
| Purchase of units                                                    |   |           |    |                      |   |              | —   |                   |   |                           | — |   |   |   | (252 | ) |   |   | (252 | ) |
| Distributions to unitholders                                         |   |           |    |                      |   |              | (82,274   | )                      |   |                           | — |   |   |   | — |   |   |   | (82,274 | ) |
| Unit-based compensation expenses                                     |   |           |    |                      |   |              | 4,135     |                   |   |                           | — |   |   |   | — |   |   |   | 4,135 |   |
| Excess tax benefit from unit-based compensation                      |   |           |    |                      |   |              | 1,777     |                   |   |                           | — |   |   |   | — |   |   |   | 1,777 |   |
| Net income                                                           |   |           |    |                      |   |              | —   |                   |   |                           | 65,310 |   |   |   | — |   |   |   | 65,310 |   |
| March 31, 2010                                                  |   |           | 147,820 |                      |   | $                 | 2,436,036 |                   |   | $                              | 418,715 |   |   | $ | — |   |   | $ | 2,854,751 |   |

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LINN ENERGY, LLC

|                                                                              |   | Three Months EndedMarch 31, |
|-----------------------------------------------------------------------------------|--------|----------------------------------|
|                                                                              |   | 2010                             |   | 2009 |
|                                                                              |   | (in thousands)                   |
| Cash flow from operating activities:                                              |   |                             |   |   |   |   |
| Net income                                                                        |   | $                                | 65,310 |   |   | $ | 119,401 |   |
| Adjustments to reconcile net income to net cash provided by operating activities: |   |                             |   |   |   |   |   |   |
| Depreciation, depletion and amortization                                          |   |                             | 49,191 |   |   |   | 52,104 |   |
| Unit-based compensation expenses                                                  |   |                             | 4,135 |   |   |   | 4,303 |   |
| Bad debt expenses                                                                 |   |                             | 189 |   |   |   | — |   |
| Amortization and write-off of deferred financing fees and other                   |   |                             | 8,916 |   |   |   | 2,487 |   |
| (Gain) loss on sale of assets, net                                                |   |                             | (3 | ) |   |   | (24,663 | ) |
| Deferred income tax                                                               |   |                             | 3,623 |   |   |   | ― |   |
| Mark-to-market on derivatives:                                                    |   |                             |   |   |   |   |   |   |
| Total gains                                                                       |   |                             | (72,841 | ) |   |   | (149,744 | ) |
| Cash settlements                                                                  |   |                             | 54,713 |   |   |   | 104,430 |   |
| Cash settlements on canceled derivatives                                          |   |                             | ― |   |   |   | 4,257 |   |
| Premiums paid for derivatives                                                     |   |                             | (14,996 | ) |   |   | — |   |
| Changes in assets and liabilities:                                                |   |                             |   |   |   |   |   |   |
| (Increase) decrease in accounts receivable – trade, net                     |   |                             | (15,161 | ) |   |   | 42,371 |   |
| (Increase) decrease in other assets                                               |   |                             | 1,140 |   |   |   | (20,150 | ) |
| Increase (decrease) in accounts payable and accrued expenses                      |   |                             | 3,288 |   |   |   | (30,020 | ) |
| Decrease in other liabilities                                                     |   |                             | (7,772 | ) |   |   | (9,806 | ) |
| Net cash provided by operating activities                                         |   |                             | 79,732 |   |   |   | 94,970 |   |
|                                                                              |   |                             |   |   |   |   |   |   |
| Cash flow from investing activities:                                              |   |                             |   |   |   |   |   |   |
| Acquisition of oil and natural gas properties                                     |   |                             | (199,539 | ) |   |   | — |   |
| Development of oil and natural gas properties                                     |   |                             | (22,860 | ) |   |   | (67,984 | ) |
| Purchases of other property and equipment                                         |   |                             | (2,089 | ) |   |   | (2,767 | ) |
| Proceeds from sale of properties and equipment                                    |   |                             | 3 |   |   |   | 11,934 |   |
| Net cash used in investing activities                                             |   |                             | (224,485 | ) |   |   | (58,817 | ) |
|                                                                              |   |                             |   |   |   |   |   |   |
| Cash flow from financing activities:                                              |   |                             |   |   |   |   |   |   |
| Proceeds from sale of units                                                       |   |                             | 431,250 |   |   |   | — |   |
| Proceeds from borrowings                                                          |   |                             | 250,000 |   |   |   | 75,000 |   |
| Repayments of debt                                                                |   |                             | (445,000 | ) |   |   | (50,000 | ) |
| Distributions to unitholders                                                      |   |                             | (82,274 | ) |   |   | (72,538 | ) |
| Financing fees, offering expenses and other, net                                  |   |                             | (16,850 | ) |   |   | 8,075 |   |
| Excess tax benefit from unit-based compensation                                   |   |                             | 1,777 |   |   |   | — |   |
| Purchase of units                                                                 |   |                             | (252 | ) |   |   | (2,465 | ) |
| Net cash provided by (used in) financing activities                               |   |                             | 138,651 |   |   |   | (41,928 | ) |
|                                                                              |   |                             |   |   |   |   |   |   |
| Net decrease in cash and cash equivalents                                         |   |                             | (6,102 | ) |   |   | (5,775 | ) |
|                                                                              |   |                             |   |   |   |   |   |   |
| Cash and cash equivalents:                                                        |   |                             |   |   |   |   |   |   |
| Beginning                                                                         |   |                             | 22,231 |   |   |   | 28,668 |   |
| Ending                                                                            |   | $                                | 16,129 |   |   | $ | 22,893 |   |

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LINN ENERGY, LLC

| (1) | Basis of Presentation |
|-----|-----------------------|

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| (2) | Acquisitions and Divestitures |
|-----|-------------------------------|

| Assets:                        |   |   |    |
|--------------------------------|--------|--------|---------|
| Current and other assets       |   | $      | 4,400   |   |
| Oil and natural gas properties |   |   | 156,801 |   |
| Total assets acquired          |   | $      | 161,201 |   |
|                           |   |   |    |   |
| Liabilities:                   |   |   |    |   |
| Current liabilities            |   | $      | 7,932   |   |
| Asset retirement obligations   |   |   | 2,285   |   |
| Total liabilities assumed      |   | $      | 10,217  |   |
| Net assets acquired            |   | $      | 150,984 |   |

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| (3) | Unitholders’ Capital |
|-----|----------------------------|

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Table of Contents

| (4) | Oil and Natural Gas Capitalized Costs |
|-----|---------------------------------------|

|                                        |   | March 31,2010 |      | December 31,2009 |
|---------------------------------------------|--------|--------------------|-----------|-----------------------|
|                                        |   | (in thousands)     |
| Proved properties:                          |   |               |      |                  |   |   |
| Leasehold acquisition                       |   | $                  | 3,556,793 |                  |   | $ | 3,398,292 |   |
| Development                                 |   |               | 624,810   |                  |   |   | 600,436 |   |
| Unproved properties                         |   |               | 73,707    |                  |   |   | 78,067 |   |
|                                        |   |               | 4,255,310 |                  |   |   | 4,076,795 |   |
| Less accumulated depletion and amortization |   |               | (509,181  | )                     |   |   | (463,413 | ) |
|                                        |   | $                  | 3,746,129 |                  |   | $ | 3,613,382 |   |

| (5) | Business and Credit Concentrations |
|-----|------------------------------------|

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| (6) | Unit-Based Compensation |
|-----|-------------------------|

|                                   |   | Three Months EndedMarch 31, |
|----------------------------------------|--------|----------------------------------|
|                                   |   | 2010                             |   | 2009 |
|                                   |   | (in thousands)                   |
|                                   |   |                             |   |   |   |   |
| General and administrative expenses    |   | $                                | 4,014 |   |   | $ | 4,201 |   |
| Lease operating expenses               |   |                             | 121 |   |   |   | 102 |   |
| Total unit-based compensation expenses |   | $                                | 4,135 |   |   | $ | 4,303 |   |
| Income tax benefit                     |   | $                                | 1,635 |   |   | $ | — |   |

| (7) | Debt |
|-----|------|

|                         |   | March 31, 2010               |    | December 31, 2009 |
|------------------------------|--------|-----------------------------------|---------|------------------------|
|                         |   | CarryingValue                     |    | FairValue (1)          |   | InterestRate (2) |   | CarryingValue |   | FairValue (1) |   | InterestRate (2) |
|                         |   | (in millions, except percentages) |    |
|                         |   |                              |    |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Credit facility              |   | $                                 | 905     |                   |   | $ | 905 |   |   |   | 3.01 | % |   |   | $ | 1,100 |   |   | $ | 1,100 |   |   |   | 2.98 | % |   |
| 11.75% senior notes due 2017 |   |                              | 250     |                   |   |   | 285 |   |   |   | 12.73 | % |   |   |   | 250 |   |   |   | 279 |   |   |   | 12.73 | % |   |
| 9.875% senior notes due 2018 |   |                              | 256     |                   |   |   | 274 |   |   |   | 10.25 | % |   |   |   | 256 |   |   |   | 271 |   |   |   | 10.25 | % |   |
| Less current maturities      |   |                              | ― |                   |   |   | ― |   |   |   |   |   |   |   |   | ― |   |   |   | ― |   |   |   |   |   |   |
|                         |   |                              | 1,411   |                   |   | $ | 1,464 |   |   |   |   |   |   |   |   | 1,606 |   |   | $ | 1,650 |   |   |   |   |   |   |
| Unamortized discount         |   |                              | (17     | )                      |   |   |   |   |   |   |   |   |   |   |   | (17 | ) |   |   |   |   |   |   |   |   |   |
| Total debt, net of discount  |   | $                                 | 1,394   |                   |   |   |   |   |   |   |   |   |   |   | $ | 1,589 |   |   |   |   |   |   |   |   |   |   |

|   | (1) | The carrying value of the Credit Facility is estimated to be substantially the same as its fair value.  Fair values of the senior notes were estimated based on prices quoted from third-party financial institutions. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Represents variable interest rate for the Credit Facility and effective interest rates for the senior notes. |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

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| (8) | Derivatives |
|-----|-------------|

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|                                      |   | March 31 –December 31,2010 |   | 2011   |   | 2012   |   | 2013   |   | 2014   |    | 2015   |
|-------------------------------------------|--------|--------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|---------|--------|
| Natural gas positions:                    |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |
| Fixed price swaps:                        |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |
| Hedged volume (MMMBtu)                    |   |                                       | 29,674 |   |   |   | 31,901 |   |   |   | 18,300  |   |   |   | 18,250 |   |   |   | 18,250 |   |   |   | 18,250 |   |
| Average price ($/MMBtu)                   |   | $                                          | 8.90   |   |   | $      | 9.50   |   |   | $      | 6.37    |   |   | $ | 6.37 |   |   | $ | 6.37 |   |   | $ | 6.37 |   |
| Puts:                                     |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MMMBtu)                    |   |                                       | 5,220  |   |   |   | 6,960  |   |   |   | 7,064   |   |   |   | 7,045 |   |   |   | — |   |   |   | — |   |
| Average price ($/MMBtu)                   |   | $                                          | 8.50   |   |   | $      | 9.50   |   |   | $      | 6.25    |   |   | $ | 6.25 |   |   | $ | — |   |   | $ | — |   |
| PEPL puts: (1)                            |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MMMBtu)                    |   |                                       | 7,976  |   |   |   | 13,259 |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Average price ($/MMBtu)                   |   | $                                          | 7.85   |   |   | $      | 8.50   |   |   | $      | — |   |   | $ | — |   |   | $ | — |   |   | $ | — |   |
| Total:                                    |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MMMBtu)                    |   |                                       | 42,870 |   |   |   | 52,120 |   |   |   | 25,364  |   |   |   | 25,295 |   |   |   | 18,250 |   |   |   | 18,250 |   |
| Average price ($/MMBtu)                   |   | $                                          | 8.66   |   |   | $      | 9.25   |   |   | $      | 6.33    |   |   | $ | 6.33 |   |   | $ | 6.37 |   |   | $ | 6.37 |   |
|                                      |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Oil positions:                            |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed price swaps: (2)                    |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MBbls)                     |   |                                       | 1,613  |   |   |   | 2,073  |   |   |   | 3,020   |   |   |   | 3,011 |   |   |   | — |   |   |   | — |   |
| Average price ($/Bbl)                     |   | $                                          | 90.00  |   |   | $      | 90.00  |   |   | $      | 100.00  |   |   | $ | 100.00 |   |   | $ | — |   |   | $ | — |   |
| Puts: (3)                                 |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MBbls)                     |   |                                       | 1,687  |   |   |   | 2,352  |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Average price ($/Bbl)                     |   | $                                          | 110.00 |   |   | $      | 75.00  |   |   | $      | — |   |   | $ | — |   |   | $ | — |   |   | $ | — |   |
| Collars:                                  |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MBbls)                     |   |                                       | 187    |   |   |   | 276    |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Average floor price ($/Bbl)               |   | $                                          | 90.00  |   |   | $      | 90.00  |   |   | $      | — |   |   | $ | — |   |   | $ | — |   |   | $ | — |   |
| Average ceiling price ($/Bbl)             |   | $                                          | 112.00 |   |   | $      | 112.25 |   |   | $      | — |   |   | $ | — |   |   | $ | — |   |   | $ | — |   |
| Total:                                    |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MBbls)                     |   |                                       | 3,487  |   |   |   | 4,701  |   |   |   | 3,020   |   |   |   | 3,011 |   |   |   | — |   |   |   | — |   |
| Average price ($/Bbl)                     |   | $                                          | 99.68  |   |   | $      | 82.50  |   |   | $      | 100.00  |   |   | $ | 100.00 |   |   | $ | — |   |   | $ | — |   |
|                                      |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Natural gas basis differential positions: |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| PEPL basis swaps: (1)                     |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MMMBtu)                    |   |                                       | 32,374 |   |   |   | 35,541 |   |   |   | 34,066  |   |   |   | 31,700 |   |   |   | — |   |   |   | — |   |
| Hedged differential ($/MMBtu)             |   | $                                          | (0.97  | )      |   | $      | (0.96  | )      |   | $      | (0.95   | )      |   | $ | (1.01 | ) |   | $ | — |   |   | $ | — |   |

|   | (1) | Settle on the Panhandle Eastern Pipeline (“PEPL”) spot price of natural gas to hedge basis differential associated with natural gas production in the Mid-Continent Deep and Mid-Continent Shallow regions. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | As presented in the table above, the Company has outstanding fixed price oil swaps on 8,250 Bbls of daily production at a price of $100.00 per Bbl for the years ending December 31, 2012, and December 31, 2013.  The Company has derivative contracts that extend these swaps at a price of $100.00 per Bbl for each of the years ending December 31, 2014, December 31, 2015, and December 31, 2016, if the counterparties determine that the strike prices are in-the-money on a designated date in each respective preceding year.  The extension for each year is exercisable without respect to the other future years. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | The Company utilizes oil puts to hedge revenues associated with its NGL production. |
|--------|-----|-------------------------------------------------------------------------------------|

----

Table of Contents

|            |   | 2010                   |      | 2011   |   | 2012   |      | 2013 (1) |
|-----------------|--------|------------------------|-----------|--------|--------|--------|-----------|----------|
|            |   | (dollars in thousands) |
|            |   |                   |      |   |   |   |      |     |   |   |   |   |
| Notional amount |   | $                      | 1,212,000 |   |   | $      | 1,212,000 |     |   | $ | 1,212,000 |   |   | $ | 1,212,000 |   |
| Fixed rate      |   |                   | 3.85      | %      |   |   | 3.85      | %        |   |   | 3.85 | % |   |   | 3.85 | % |

|   | (1) | Actual settlement term is through January 6, 2014. |
|--------|-----|---------------------------------------------------------|

----

Table of Contents

|                  |   | March 31,2010 |    | December 31,2009 |
|-----------------------|--------|--------------------|---------|-----------------------|
|                  |   | (in thousands)     |
| Assets:               |   |               |    |                  |   |   |
| Commodity derivatives |   | $                  | 674,848 |                  |   | $ | 549,879 |   |
| Interest rate swaps   |   |               | 1,209   |                  |   |   | 2,603 |   |
|                  |   | $                  | 676,057 |                  |   | $ | 552,482 |   |
| Liabilities:          |   |               |    |                  |   |   |   |   |
| Commodity derivatives |   | $                  | 272,341 |                  |   | $ | 192,573 |   |
| Interest rate swaps   |   |               | 80,327  |                  |   |   | 69,644 |   |
|                  |   | $                  | 352,668 |                  |   | $ | 262,217 |   |

----

Table of Contents

|                       |   | Three Months EndedMarch 31, |
|----------------------------|--------|----------------------------------|
|                       |   | 2010                             |   | 2009 |
|                       |   | (in thousands)                   |
| Realized gains (losses):   |   |                             |   |   |   |   |
| Commodity derivatives      |   | $                                | 62,503 |   |   | $ | 119,812 |   |
| Interest rate swaps        |   |                             | (8,021 | ) |   |   | (10,114 | ) |
| Canceled derivatives       |   |                             | — |   |   |   | 4,257 |   |
|                       |   | $                                | 54,482 |   |   | $ | 113,955 |   |
| Unrealized gains (losses): |   |                             |   |   |   |   |   |   |
| Commodity derivatives      |   | $                                | 33,500 |   |   | $ | 37,246 |   |
| Interest rate swaps        |   |                             | (15,141 | ) |   |   | (1,457 | ) |
|                       |   | $                                | 18,359 |   |   | $ | 35,789 |   |
| Total gains (losses):      |   |                             |   |   |   |   |   |   |
| Commodity derivatives      |   | $                                | 96,003 |   |   | $ | 161,315 |   |
| Interest rate swaps        |   |                             | (23,162 | ) |   |   | (11,571 | ) |
|                       |   | $                                | 72,841 |   |   | $ | 149,744 |   |

| (9) | Fair Value Measurements on a Recurring Basis |
|-----|----------------------------------------------|

|                  |   | March 31, 2010 |
|-----------------------|--------|---------------------|
|                  |   | Level 2             |   | Netting (1) |   | Total |
|                  |   | (in thousands)      |
| Assets:               |   |                |   |   |   |   |   |   |   |
| Commodity derivatives |   | $                   | 674,848 |   |   | $ | (248,867 | ) |   | $ | 425,981 |   |
| Interest rate swaps   |   | $                   | 1,209 |   |   | $ | (1,209 | ) |   | $ | — |   |
|                  |   |                |   |   |   |   |   |   |   |   |   |   |
| Liabilities:          |   |                |   |   |   |   |   |   |   |   |   |   |
| Commodity derivatives |   | $                   | 272,341 |   |   | $ | (248,867 | ) |   | $ | 23,474 |   |
| Interest rate swaps   |   | $                   | 80,327 |   |   | $ | (1,209 | ) |   | $ | 79,118 |   |

|   | (1) | Represents counterparty netting under agreements governing such derivatives. |
|--------|-----|------------------------------------------------------------------------------|

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Table of Contents

| (10) | Asset Retirement Obligations |
|------|------------------------------|

| Asset retirement obligations at December 31, 2009 |   | $      | 33,135 |   |
|--------------------------------------------------------|--------|--------|--------|--------|
| Liabilities added from acquisitions                    |   |   | 2,285  |   |
| Liabilities added from drilling                        |   |   | 42     |   |
| Current year accretion expense                         |   |   | 597    |   |
| Settlements                                            |   |   | (94    | )      |
| Asset retirement obligations at March 31, 2010    |   | $      | 35,965 |   |

| (11) | Commitments and Contingencies |
|------|-------------------------------|

| (12) | Earnings Per Unit |
|------|-------------------|

----

Table of Contents

|                                    |   | Income(Numerator) |    | Units(Denominator) |   | Per UnitAmount |
|-----------------------------------------|--------|-------------------|---------|--------------------|--------|----------------|
|                                    |   | (in thousands)    |    |               |   |
| Three months ended March 31, 2010: |   |              |    |               |   |           |   |   |   |
| Income from continuing operations:      |   |              |    |               |   |           |   |   |   |
| Allocated to units                      |   | $                 | 65,310  |               |   |           |   |   |   |   |
| Allocated to unvested restricted units  |   |              | (750    | )                  |   |           |   |   |   |   |
|                                    |   | $                 | 64,560  |               |   |           |   |   |   |   |
| Income per unit:                        |   |              |    |               |   |           |   |   |   |   |
| Basic income per unit                   |   |              |    |               |   |           | 129,533 |   |   | $ | 0.50 |   |
| Dilutive effect of unit equivalents     |   |              |    |               |   |           | 389 |   |   |   | — |   |
| Diluted income per unit                 |   |              |    |               |   |           | 129,922 |   |   | $ | 0.50 |   |
|                                    |   |              |    |               |   |           |   |   |   |   |   |   |
| Three months ended March 31, 2009:      |   |              |    |               |   |           |   |   |   |   |   |   |
| Income from continuing operations:      |   |              |    |               |   |           |   |   |   |   |   |   |
| Allocated to units                      |   | $                 | 121,287 |               |   |           |   |   |   |   |   |   |
| Allocated to unvested restricted units  |   |              | (1,485  | )                  |   |           |   |   |   |   |   |   |
|                                    |   | $                 | 119,802 |               |   |           |   |   |   |   |   |   |
| Income per unit:                        |   |              |    |               |   |           |   |   |   |   |   |   |
| Basic income per unit                   |   |              |    |               |   |           | 113,473 |   |   | $ | 1.06 |   |
| Dilutive effect of unit equivalents     |   |              |    |               |   |           | 29 |   |   |   | — |   |
| Diluted income per unit                 |   |              |    |               |   |           | 113,502 |   |   | $ | 1.06 |   |

| (13) | Income Taxes |
|------|--------------|

----

Table of Contents

| (14) | Supplemental Disclosures to the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows |
|------|---------------------------------------------------------------------------------------------------------------------------|

|                 |   | March 31,2010  |   | December 31,2009 |
|----------------------|--------|----------------|--------|-----------------------|
|                 |   | (in thousands) |
|                 |   |           |   |                  |   |   |
| Accrued compensation |   | $              | 5,941  |                  |   | $ | 14,378 |   |
| Accrued interest     |   |           | 19,263 |                  |   |   | 18,332 |   |
| Other                |   |           | 1,371  |                  |   |   | 1,212 |   |
|                 |   | $              | 26,575 |                  |   | $ | 33,922 |   |

|                                                                                                       |   | Three Months EndedMarch 31, |
|------------------------------------------------------------------------------------------------------------|--------|----------------------------------|
|                                                                                                       |   | 2010                             |   | 2009 |
|                                                                                                       |   | (in thousands)                   |
|                                                                                                       |   |                             |   |   |   |   |
| Cash payments for interest, net of amounts capitalized                                                     |   | $                                | 21,653 |   |   | $ | 20,610 |   |
| Cash payments for income taxes                                                                             |   | $                                | 563 |   |   | $ | 1 |   |
| Noncash investing activities:                                                                              |   |                             |   |   |   |   |   |   |
| In connection with the acquisition of oil and natural gas properties, liabilities were assumed as follows: |   |                             |   |   |   |   |   |   |
| Fair value of assets acquired                                                                              |   | $                                | 145,911 |   |   | $ | — |   |
| Cash paid                                                                                                  |   |                             | (136,039 | ) |   |   | — |   |
| Receivable from seller                                                                                     |   |                             | 337 |   |   |   | — |   |
| Liabilities assumed                                                                                        |   | $                                | 10,209 |   |   | $ | — |   |

----

Table of Contents

Item 2.       Management’s Discussion and Analysis of Financial Condition and Results of Operations

|   | · | Mid-Continent Deep, which includes the Texas Panhandle Deep Granite Wash formation and deep formations in Oklahoma and Kansas; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------|

|   | · | Mid-Continent Shallow, which includes the Texas Panhandle Brown Dolomite formation and shallow formations in Oklahoma, Louisiana and Illinois; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | California, which includes the Brea Olinda Field of the Los Angeles Basin; and |
|--------|--------|--------------------------------------------------------------------------------|

|   | · | Permian Basin, which includes areas in West Texas and Southeast New Mexico. |
|--------|--------|-----------------------------------------------------------------------------|

|   | · | oil, natural gas and NGL sales of approximately $149.4 million, compared to $79.9 million in the first quarter of 2009; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------|

|   | · | average daily production of 213 MMcfe/d, compared to 217 MMcfe/d in the first quarter of 2009; |
|--------|--------|------------------------------------------------------------------------------------------------|

|   | · | realized gains on commodity derivatives of approximately $62.5 million, compared to $124.1 million in the first quarter of 2009; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------|

|   | · | adjusted EBITDA of $151.5 million, compared to $138.2 million in the first quarter of 2009; |
|--------|--------|---------------------------------------------------------------------------------------------|

|   | · | adjusted net income of $47.4 million, compared to $55.5 million in the first quarter of 2009; |
|--------|--------|-----------------------------------------------------------------------------------------------|

|   | · | capital expenditures, excluding acquisitions, of approximately $27.1 million, compared to $73.3 million in the first quarter of 2009; and |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | 13 wells drilled (all successful), compared to 41 wells drilled (40 successful) in the first quarter of 2009. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------|

----

Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

----

Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

|                                      |   | April 15 –December 31,2010 |   | 2011   |   | 2012   |   | 2013   |   | 2014   |    | 2015   |
|-------------------------------------------|--------|--------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|---------|--------|
| Natural gas positions:                    |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |
| Fixed price swaps:                        |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |
| Hedged volume (MMMBtu)                    |   |                                       | 26,377 |   |   |   | 31,901 |   |   |   | 31,110  |   |   |   | 31,025 |   |   |   | 31,025 |   |   |   | 31,025 |   |
| Average price ($/MMBtu)                   |   | $                                          | 8.90   |   |   | $      | 9.50   |   |   | $      | 6.25    |   |   | $ | 6.25 |   |   | $ | 6.25 |   |   | $ | 6.25 |   |
| Puts:                                     |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MMMBtu)                    |   |                                       | 4,640  |   |   |   | 6,960  |   |   |   | 25,364  |   |   |   | 25,295 |   |   |   | — |   |   |   | — |   |
| Average price ($/MMBtu)                   |   | $                                          | 8.50   |   |   | $      | 9.50   |   |   | $      | 6.25    |   |   | $ | 6.25 |   |   | $ | — |   |   | $ | — |   |
| PEPL puts: (1)                            |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MMMBtu)                    |   |                                       | 7,089  |   |   |   | 13,259 |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Average price ($/MMBtu)                   |   | $                                          | 7.85   |   |   | $      | 8.50   |   |   | $      | — |   |   | $ | — |   |   | $ | — |   |   | $ | — |   |
| Total:                                    |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MMMBtu)                    |   |                                       | 38,106 |   |   |   | 52,120 |   |   |   | 56,474  |   |   |   | 56,320 |   |   |   | 31,025 |   |   |   | 31,025 |   |
| Average price ($/MMBtu)                   |   | $                                          | 8.66   |   |   | $      | 9.25   |   |   | $      | 6.25    |   |   | $ | 6.25 |   |   | $ | 6.25 |   |   | $ | 6.25 |   |
|                                      |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Oil positions:                            |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed price swaps: (2)                    |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MBbls)                     |   |                                       | 1,613  |   |   |   | 2,803  |   |   |   | 3,386   |   |   |   | 3,376 |   |   |   | — |   |   |   | — |   |
| Average price ($/Bbl)                     |   | $                                          | 90.00  |   |   | $      | 89.91  |   |   | $      | 98.92   |   |   | $ | 98.92 |   |   | $ | — |   |   | $ | — |   |
| Puts: (3)                                 |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MBbls)                     |   |                                       | 1,687  |   |   |   | 2,352  |   |   |   | 2,196   |   |   |   | 2,190 |   |   |   | — |   |   |   | — |   |
| Average price ($/Bbl)                     |   | $                                          | 110.00 |   |   | $      | 75.00  |   |   | $      | 75.00   |   |   | $ | 75.00 |   |   | $ | — |   |   | $ | — |   |
| Collars:                                  |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MBbls)                     |   |                                       | 187    |   |   |   | 276    |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Average floor price ($/Bbl)               |   | $                                          | 90.00  |   |   | $      | 90.00  |   |   | $      | — |   |   | $ | — |   |   | $ | — |   |   | $ | — |   |
| Average ceiling price ($/Bbl)             |   | $                                          | 112.00 |   |   | $      | 112.25 |   |   | $      | — |   |   | $ | — |   |   | $ | — |   |   | $ | — |   |
| Total:                                    |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MBbls)                     |   |                                       | 3,487  |   |   |   | 5,431  |   |   |   | 5,582   |   |   |   | 5,566 |   |   |   | — |   |   |   | — |   |
| Average price ($/Bbl)                     |   | $                                          | 99.68  |   |   | $      | 83.46  |   |   | $      | 89.51   |   |   | $ | 89.51 |   |   | $ | — |   |   | $ | — |   |
|                                      |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Natural gas basis differential positions: |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| PEPL basis swaps: (1)                     |   |                                       |   |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Hedged volume (MMMBtu)                    |   |                                       | 28,777 |   |   |   | 35,541 |   |   |   | 34,066  |   |   |   | 31,700 |   |   |   | — |   |   |   | — |   |
| Hedged differential ($/MMBtu)             |   | $                                          | (0.97  | )      |   | $      | (0.96  | )      |   | $      | (0.95   | )      |   | $ | (1.01 | ) |   | $ | — |   |   | $ | — |   |

| (1) | Settle on the Panhandle Eastern Pipeline (“PEPL”) spot price of natural gas to hedge basis differential associated with natural gas production in the Mid-Continent Deep and Mid-Continent Shallow regions. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | As presented in the table above, the Company has outstanding fixed price oil swaps on 8,250 Bbls of daily production at a price of $100.00 per Bbl for the years ending December 31, 2012, and December 31, 2013.  The Company has derivative contracts that extend these swaps at a price of $100.00 per Bbl for each of the years ending December 31, 2014, December 31, 2015, and December 31, 2016, if the counterparties determine that the strike prices are in-the-money on a designated date in each respective preceding year.  The extension for each year is exercisable without respect to the other future years. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The Company utilizes oil puts to hedge revenues associated with its NGL production. |
|-----|-------------------------------------------------------------------------------------|

----

Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

|            |   | 2011                   |      | 2012   |   | 2013 (1) |
|-----------------|--------|------------------------|-----------|--------|--------|----------|
|            |   | (dollars in thousands) |
|            |   |                   |      |   |   |     |   |   |   |
| Notional amount |   | $                      | 1,212,000 |   |   | $        | 1,212,000 |   |   | $ | 1,212,000 |   |
| Fixed rate      |   |                   | 3.85      | %      |   |     | 3.85 | % |   |   | 3.85 | % |

| (1) | Actual settlement term is through January 6, 2014. |
|-----|---------------------------------------------------------|

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Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

|                                                  |   | Three Months Ended March 31, |    |   |   |
|-------------------------------------------------------|--------|-----------------------------------|---------|--------|--------|
|                                                  |   | 2010                              |    | 2009   |   | Variance |
|                                                  |   | (in thousands)                    |
| Revenues and other:                                   |   |                              |    |   |   |   |   |   |   |
| Natural gas sales                                     |   | $                                 | 52,862  |   |   | $ | 42,228 |   |   | $ | 10,634 |   |
| Oil sales                                             |   |                              | 65,940  |   |   |   | 26,770 |   |   |   | 39,170 |   |
| NGL sales                                             |   |                              | 30,584  |   |   |   | 10,866 |   |   |   | 19,718 |   |
| Total oil, natural gas and NGL sales                  |   |                              | 149,386 |   |   |   | 79,864 |   |   |   | 69,522 |   |
| Gain on oil and natural gas derivatives               |   |                              | 96,003  |   |   |   | 161,315 |   |   |   | (65,312 | ) |
| Natural gas marketing revenues                        |   |                              | 1,394   |   |   |   | 516 |   |   |   | 878 |   |
| Other revenues                                        |   |                              | 253     |   |   |   | 966 |   |   |   | (713 | ) |
|                                                  |   | $                                 | 247,036 |   |   | $ | 242,661 |   |   | $ | 4,375 |   |
| Expenses:                                             |   |                              |    |   |   |   |   |   |   |   |   |   |
| Lease operating expenses                              |   | $                                 | 31,222  |   |   | $ | 33,732 |   |   | $ | (2,510 | ) |
| Transportation expenses                               |   |                              | 4,620   |   |   |   | 2,967 |   |   |   | 1,653 |   |
| Natural gas marketing expenses                        |   |                              | 969     |   |   |   | 340 |   |   |   | 629 |   |
| General and administrative expenses (1)               |   |                              | 24,488  |   |   |   | 23,301 |   |   |   | 1,187 |   |
| Exploration costs                                     |   |                              | 3,861   |   |   |   | 1,565 |   |   |   | 2,296 |   |
| Bad debt expenses                                     |   |                              | 189     |   |   |   | — |   |   |   | 189 |   |
| Depreciation, depletion and amortization              |   |                              | 49,191  |   |   |   | 52,104 |   |   |   | (2,913 | ) |
| Taxes, other than income taxes                        |   |                              | 10,200  |   |   |   | 7,567 |   |   |   | 2,633 |   |
| (Gain) loss on sale of assets and other, net          |   |                              | (322    | )      |   |   | (26,711 | ) |   |   | 26,389 |   |
|                                                  |   | $                                 | 124,418 |   |   | $ | 94,865 |   |   | $ | 29,553 |   |
| Other income and (expenses)                           |   | $                                 | (51,416 | )      |   | $ | (26,373 | ) |   | $ | (25,043 | ) |
| Income from continuing operations before income taxes |   | $                                 | 71,202  |   |   | $ | 121,423 |   |   | $ | (50,221 | ) |
|                                                  |   |                              |    |   |   |   |   |   |   |   |   |   |
| Adjusted EBITDA (2)                                   |   | $                                 | 151,509 |   |   | $ | 138,161 |   |   | $ | 13,348 |   |
| Adjusted net income (2)                               |   | $                                 | 47,365  |   |   | $ | 55,530 |   |   | $ | (8,165 | ) |

| (1) | General and administrative expenses for the three months ended March 31, 2010, and March 31, 2009, include approximately $4.0 million and $4.2 million, respectively, of noncash unit-based compensation expenses. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | This is a non-GAAP measure used by management to analyze Company performance.  See “Non-GAAP Financial Measures” on page 31 for a reconciliation of the non-GAAP financial measure to its most directly comparable financial measure calculated and presented in accordance with GAAP. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

|                                     |   | Three Months EndedMarch 31, |   |   |   |
|------------------------------------------|--------|----------------------------------|--------|--------|--------|
|                                     |   | 2010                             |   | 2009   |   | Variance |
| Average daily production:                |   |                             |   |   |   |   |   |   |   |
| Natural gas (MMcf/d)                     |   |                             | 110    |   |   |   | 133 |   |   |   | (17 | )% |
| Oil (MBbls/d)                            |   |                             | 9.8    |   |   |   | 8.8 |   |   |   | 11 | % |
| NGL (MBbls/d)                            |   |                             | 7.5    |   |   |   | 5.2 |   |   |   | 44 | % |
| Total (MMcfe/d)                          |   |                             | 213    |   |   |   | 217 |   |   |   | (2 | )% |
|                                     |   |                             |   |   |   |   |   |   |   |   |   |   |
| Weighted average prices (hedged): (1)    |   |                             |   |   |   |   |   |   |   |   |   |   |
| Natural gas (Mcf)                        |   | $                                | 9.21   |   |   | $ | 7.94 |   |   |   | 16 | % |
| Oil (Bbl)                                |   | $                                | 102.39 |   |   | $ | 118.19 |   |   |   | (13 | )% |
| NGL (Bbl)                                |   | $                                | 45.51  |   |   | $ | 23.32 |   |   |   | 95 | % |
|                                     |   |                             |   |   |   |   |   |   |   |   |   |   |
| Weighted average prices (unhedged): (2)  |   |                             |   |   |   |   |   |   |   |   |   |   |
| Natural gas (Mcf)                        |   | $                                | 5.35   |   |   | $ | 3.53 |   |   |   | 52 | % |
| Oil (Bbl)                                |   | $                                | 74.76  |   |   | $ | 33.76 |   |   |   | 121 | % |
| NGL (Bbl)                                |   | $                                | 45.51  |   |   | $ | 23.32 |   |   |   | 95 | % |
|                                     |   |                             |   |   |   |   |   |   |   |   |   |   |
| Average NYMEX prices:                    |   |                             |   |   |   |   |   |   |   |   |   |   |
| Natural gas (MMBtu)                      |   | $                                | 5.30   |   |   | $ | 4.91 |   |   |   | 8 | % |
| Oil (Bbl)                                |   | $                                | 78.72  |   |   | $ | 43.08 |   |   |   | 83 | % |
|                                     |   |                             |   |   |   |   |   |   |   |   |   |   |
| Costs per Mcfe of production:            |   |                             |   |   |   |   |   |   |   |   |   |   |
| Lease operating expenses                 |   | $                                | 1.63   |   |   | $ | 1.73 |   |   |   | (6 | )% |
| Transportation expenses                  |   | $                                | 0.24   |   |   | $ | 0.15 |   |   |   | 60 | % |
| General and administrative expenses (3)  |   | $                                | 1.28   |   |   | $ | 1.19 |   |   |   | 8 | % |
| Depreciation, depletion and amortization |   | $                                | 2.56   |   |   | $ | 2.67 |   |   |   | (4 | )% |
| Taxes, other than income taxes           |   | $                                | 0.53   |   |   | $ | 0.39 |   |   |   | 36 | % |

| (1) | Includes the effect of realized gains on derivatives of approximately $62.5 million and $119.8 million (excluding $4.3 million realized gains on canceled contracts) for the three months ended March 31, 2010, and March 31, 2009, respectively.  The Company utilizes oil puts to hedge revenues associated with its NGL production; therefore, all realized gains (losses) on oil derivative contracts are included in weighted average oil prices, rather than weighted average NGL prices. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Does not include the effect of realized gains (losses) on derivatives. |
|-----|------------------------------------------------------------------------|

| (3) | General and administrative expenses for the three months ended March 31, 2010, and March 31, 2009, include approximately $4.0 million and $4.2 million, respectively, of noncash unit-based compensation expenses.  Excluding these amounts, general and administrative expenses for the three months ended March 31, 2010, and March 31, 2009, were $1.07 per Mcfe and $0.98 per Mcfe, respectively.  This is a non-GAAP measure used by management to analyze the Company’s performance. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

|                                |   | Three Months EndedMarch 31, |   |   |   |     |    |   |
|-------------------------------------|--------|----------------------------------|--------|--------|--------|----------|---------|--------|
|                                |   | 2010                             |   | 2009   |   | Variance |
| Average daily production (MMcfe/d): |   |                             |   |   |   |     |    |   |   |   |   |   |
| Mid-Continent Deep                  |   |                             | 124    |   |   |     | 142     |   |   |   | (18 | ) |   |   | (13 | )% |
| Mid-Continent Shallow               |   |                             | 64     |   |   |     | 61      |   |   |   | 3 |   |   |   | 5 | % |
| California                          |   |                             | 13     |   |   |     | 14      |   |   |   | (1 | ) |   |   | (7 | )% |
| Permian Basin                       |   |                             | 12     |   |   |     | — |   |   |   | 12 |   |   |   | — |   |
|                                |   |                             | 213    |   |   |     | 217     |   |   |   | (4 | ) |   |   | (2 | )% |

----

Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

----

Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

|                                         |   | Three Months EndedMarch 31, |    |   |   |
|----------------------------------------------|--------|----------------------------------|---------|--------|--------|
|                                         |   | 2010                             |    | 2009   |   | Variance |
|                                         |   | (in thousands)                   |
|                                         |   |                             |    |   |   |   |   |   |   |
| Interest expense, net of amounts capitalized |   | $                                | (27,653 | )      |   | $ | (14,409 | ) |   | $ | (13,244 | ) |
| Realized loss on interest rate swaps         |   |                             | (8,021  | )      |   |   | (10,114 | ) |   |   | 2,093 |   |
| Unrealized loss on interest rate swaps       |   |                             | (15,141 | )      |   |   | (1,457 | ) |   |   | (13,684 | ) |
| Other, net                                   |   |                             | (601    | )      |   |   | (393 | ) |   |   | (208 | ) |
|                                         |   | $                                | (51,416 | )      |   | $ | (26,373 | ) |   | $ | (25,043 | ) |

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Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

|                                       |   | Three Months EndedMarch 31, |     |   |   |
|--------------------------------------------|--------|----------------------------------|----------|--------|--------|
|                                       |   | 2010                             |     | 2009   |   | Variance |
|                                       |   | (in thousands)                   |
| Net cash:                                  |   |                             |     |   |   |   |   |   |   |
| Provided by operating activities (1)       |   | $                                | 79,732   |   |   | $ | 94,970 |   |   | $ | (15,238 | ) |
| Used in investing activities               |   |                             | (224,485 | )      |   |   | (58,817 | ) |   |   | (165,668 | ) |
| Provided by (used in) financing activities |   |                             | 138,651  |   |   |   | (41,928 | ) |   |   | 180,579 |   |
| Net decrease in cash and cash equivalents  |   | $                                | (6,102   | )      |   | $ | (5,775 | ) |   | $ | (327 | ) |

| (1) | The three months ended March 31, 2010, includes premiums paid for derivatives of approximately $15.0 million. |
|-----|--------------------------------------------------------------------------------------------------------------------|

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Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

|                                           |   | Three Months Ended March 31, |
|------------------------------------------------|--------|-----------------------------------|
|                                           |   | 2010                              |   | 2009 |
|                                           |   | (in thousands)                    |
| Cash flow from investing activities:           |   |                              |   |   |   |   |
| Acquisition of oil and natural gas properties  |   | $                                 | (199,539 | ) |   | $ | — |   |
| Capital expenditures                           |   |                              | (24,949 | ) |   |   | (70,751 | ) |
| Proceeds from sale of properties and equipment |   |                              | 3 |   |   |   | 11,934 |   |
|                                           |   | $                                 | (224,485 | ) |   | $ | (58,817 | ) |

|                      |   | Three Months Ended March 31, |
|---------------------------|--------|-----------------------------------|
|                      |   | 2010                              |   | 2009 |
|                      |   | (in thousands)                    |
| Proceeds from borrowings: |   |                              |   |   |   |   |
| Credit facility           |   | $                                 | 250,000 |   |   | $ | 75,000 |   |
|                      |   |                              |   |   |   |   |   |   |
| Repayments of debt:       |   |                              |   |   |   |   |   |   |
| Credit facility           |   | $                                 | (445,000 | ) |   | $ | (50,000 | ) |

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Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

| Date Paid     |   | Period Covered by Distribution      |   | DistributionPer Unit |   | TotalDistribution |
|---------------|--------|-------------------------------------|--------|----------------------|--------|-------------------|
|          |   |                                |   |                 |   |              | (in millions) |
|          |   |                                |   |                 |   |              |   |   |
| February 2010 |   | October 1 – December 31, 2009 |   | $                    | 0.63   |              |   | $ | 82.3 |   |

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Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

|   | · | Net operating cash flow from acquisitions and divestitures, effective date through closing date; |
|--------|--------|--------------------------------------------------------------------------------------------------|

|   | · | Interest expense; |
|--------|--------|-------------------|

|   | · | Depreciation, depletion and amortization; |
|--------|--------|-------------------------------------------|

|   | · | Impairment of goodwill and long-lived assets; |
|--------|--------|-----------------------------------------------|

|   | · | Write-off of deferred financing fees and other; |
|--------|--------|-------------------------------------------------|

|   | · | (Gain) loss on sale of assets, net; |
|--------|--------|-------------------------------------|

|   | · | Unrealized (gain) loss on commodity derivatives; |
|--------|--------|--------------------------------------------------|

|   | · | Unrealized (gain) loss on interest rate derivatives; |
|--------|--------|------------------------------------------------------|

|   | · | Realized (gain) loss on interest rate derivatives; |
|--------|--------|----------------------------------------------------|

|   | · | Realized (gain) loss on canceled derivatives; |
|--------|--------|-----------------------------------------------|

|   | · | Unit-based compensation expenses; |
|--------|--------|-----------------------------------|

|   | · | Exploration costs; and |
|--------|--------|------------------------|

|   | · | Income tax (benefit) expense. |
|--------|--------|-------------------------------|

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Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

|                                                                                            |   | Three Months Ended March 31, |
|-------------------------------------------------------------------------------------------------|--------|-----------------------------------|
|                                                                                            |   | 2010                              |   | 2009 |
|                                                                                            |   | (in thousands)                    |
|                                                                                            |   |                              |   |   |   |   |
| Income from continuing operations                                                               |   | $                                 | 65,310 |   |   | $ | 121,287 |   |
| Plus:                                                                                           |   |                              |   |   |   |   |   |   |
| Net operating cash flow from acquisitions and divestitures, effective date through closing date |   |                              | 5,391 |   |   |   | — |   |
| Interest expense, cash                                                                          |   |                              | 21,752 |   |   |   | 20,610 |   |
| Interest expense, noncash                                                                       |   |                              | 5,901 |   |   |   | (6,201 | ) |
| Depreciation, depletion and amortization                                                        |   |                              | 49,191 |   |   |   | 52,104 |   |
| (Gain) loss on sale of assets, net                                                              |   |                              | 414 |   |   |   | (25,711 | ) |
| Unrealized gain on commodity derivatives                                                        |   |                              | (33,500 | ) |   |   | (37,246 | ) |
| Unrealized loss on interest rate derivatives                                                    |   |                              | 15,141 |   |   |   | 1,457 |   |
| Realized loss on interest rate derivatives                                                      |   |                              | 8,021 |   |   |   | 10,114 |   |
| Realized gain on canceled derivatives                                                           |   |                              | — |   |   |   | (4,257 | ) |
| Unit-based compensation expenses                                                                |   |                              | 4,135 |   |   |   | 4,303 |   |
| Exploration costs                                                                               |   |                              | 3,861 |   |   |   | 1,565 |   |
| Income tax expense                                                                              |   |                              | 5,892 |   |   |   | 136 |   |
| Adjusted EBITDA from continuing operations                                                      |   | $                                 | 151,509 |   |   | $ | 138,161 |   |

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Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

|                                                                  |   | Three Months Ended March 31,       |
|-----------------------------------------------------------------------|--------|-----------------------------------------|
|                                                                  |   | 2010                                    |   | 2009 |
|                                                                  |   | (in thousands, except per unit amounts) |
|                                                                  |   |                                    |   |   |   |   |
| Income from continuing operations                                     |   | $                                       | 65,310 |   |   | $ | 121,287 |   |
| Plus:                                                                 |   |                                    |   |   |   |   |   |   |
| Unrealized gain on commodity derivatives                              |   |                                    | (33,500 | ) |   |   | (37,246 | ) |
| Unrealized loss on interest rate derivatives                          |   |                                    | 15,141 |   |   |   | 1,457 |   |
| Realized gain on canceled derivatives                                 |   |                                    | — |   |   |   | (4,257 | ) |
| (Gain) loss on sale of assets, net                                    |   |                                    | 414 |   |   |   | (25,711 | ) |
| Adjusted net income from continuing operations                        |   | $                                       | 47,365 |   |   | $ | 55,530 |   |
|                                                                  |   |                                    |   |   |   |   |   |   |
| Income from continuing operations per unit – basic              |   | $                                       | 0.50 |   |   | $ | 1.06 |   |
| Plus, per unit:                                                       |   |                                    |   |   |   |   |   |   |
| Unrealized gain on commodity derivatives                              |   |                                    | (0.26 | ) |   |   | (0.33 | ) |
| Unrealized loss on interest rate derivatives                          |   |                                    | 0.12 |   |   |   | 0.01 |   |
| Realized gain on canceled derivatives                                 |   |                                    | — |   |   |   | (0.04 | ) |
| (Gain) loss on sale of assets, net                                    |   |                                    | — |   |   |   | (0.22 | ) |
| Adjusted net income from continuing operations per unit – basic |   | $                                       | 0.36 |   |   | $ | 0.48 |   |

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Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations - Continued |
|---------|---------------------------------------------------------------------------------------------------------|

|   | · | business strategy; |
|--------|--------|--------------------|

|   | · | acquisition strategy; |
|--------|--------|-----------------------|

|   | · | financial strategy; |
|--------|--------|---------------------|

|   | · | drilling locations; |
|--------|--------|---------------------|

|   | · | oil, natural gas and NGL reserves; |
|--------|--------|------------------------------------|

|   | · | realized oil, natural gas and NGL prices; |
|--------|--------|-------------------------------------------|

|   | · | production volumes; |
|--------|--------|---------------------|

|   | · | lease operating expenses, general and administrative expenses and development costs; |
|--------|--------|--------------------------------------------------------------------------------------|

|   | · | future operating results; and |
|--------|--------|-------------------------------|

|   | · | plans, objectives, expectations and intentions. |
|--------|--------|-------------------------------------------------|

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Table of Contents

Item 3.       Quantitative and Qualitative Disclosures About Market Risk

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Table of Contents

Item 4.       Controls and Procedures

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Table of Contents

PART II – OTHER INFORMATION

Item 1.       Legal Proceedings

Item 1A.    Risk Factors

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Table of Contents

Item 2.       Unregistered Sales of Equity Securities and Use of Proceeds

| Period                   |   | Total Numberof UnitsPurchased |                                | Average PricePaid Per Unit |   | Total Number of UnitsPurchased as Part ofPublicly AnnouncedPlans or Programs |   | Approximate DollarValue of Units thatMay Yet be PurchasedUnder the Plans orPrograms (2) |
|--------------------------|--------|-------------------------------|-------------------------------------|----------------------------|--------|------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------|
|                     |   |                          |                                |                       |   |                                                                         |   |                                                                                    |   |   | (in millions) |
|                     |   |                          |                                |                       |   |                                                                         |   |                                                                                    |   |   |   |   |
| January 1 – 31 (1) |   |                          | 9,055      |                       |   | $                                                                            | 27.88  |                                                                                    |   |   | ― |   |   | $ | 85.4 |   |

| (1) | The units purchased were related to units received by the Company for the payment of withholding taxes due on units issued under its equity compensation plan. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | In October 2008, the Board of Directors of the Company authorized the repurchase of up to $100.0 million of the Company’s outstanding units from time to time on the open market or in negotiated purchases.  The repurchase plan does not obligate the Company to acquire any specific number of units and may be discontinued at any time. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

Item 3.       Defaults Upon Senior Securities

Item 4.       Reserved

Item 5.       Other Information

| 1.   | To elect six directors to the Company’s Board of Directors to serve until the 2011 Annual Meeting of Unitholders. |
|----------------|-------------------------------------------------------------------------------------------------------------------------|

| Name of Director     |   | Votes For |       | VotesWithheld |
|----------------------|--------|-----------|------------|---------------|
|                 |   |      |       |          |   |   |
| Michael C. Linn      |   |      | 37,170,969 |          |   |   | 1,141,153 |   |
| Mark E. Ellis        |   |      | 37,845,529 |          |   |   | 466,593 |   |
| George A. Alcorn     |   |      | 32,555,790 |          |   |   | 5,756,332 |   |
| Terrence S. Jacobs   |   |      | 32,615,189 |          |   |   | 5,696,933 |   |
| Joseph P. McCoy      |   |      | 33,613,026 |          |   |   | 4,699,096 |   |
| Jeffrey C. Swoveland |   |      | 32,895,426 |          |   |   | 5,416,696 |   |

| 2.   | To ratify the appointment of KPMG LLP as independent auditor of the Company for the fiscal year ending December 31, 2010. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------|

|   | Votes For |        | Votes Against |   | Abstentions |
|--------|-----------|-------------|---------------|--------|-------------|
|   |      |        |          |   |        |   |   |   |
|   |      | 106,624,409 |          |   |        | 1,561,527 |   |   |   | 291,045 |   |

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Table of Contents

Item 6.       Exhibits

| Exhibit Number |       | Description |
|----------------|------------|-------------|
| 2              | .1†* | —     | Agreement for Purchase and Sale of Assets, dated March 21, 2010, between Linn Energy Holdings, LLC, as purchaser, and HighMount Exploration & Production LLC, as seller |
| 2              | .2†* | —     | Agreement for Purchase and Sale of Assets, dated March 28, 2010, between Linn Energy Holdings, LLC, as purchaser, and James C. Henry, Jamie Henry Mitros, Beverly Henry Curci, and James David Henry, as sellers |
| 4              | .1         | —     | Indenture, dated April 6, 2010, among Linn Energy, LLC, Linn Energy Finance Corp., the Subsidiary Guarantors named therein and U. S. Bank National Association, as trustee (incorporated herein by reference to Exhibit 4.1 to Current Report on Form 8-K filed April 9, 2010) |
| 4              | .2         | —     | Registration Rights Agreement, dated April 6, 2010, among Linn Energy, LLC, Linn Energy Finance Corp., the Subsidiary Guarantors named therein and the representatives of the Initial Purchasers named therein (incorporated herein by reference to Exhibit 4.2 to Current Report on Form 8-K filed April 9, 2010) |
| 10             | .1         | —     | Second Amendment, dated April 6, 2010, to Fourth Amended and Restated Credit Agreement among Linn Energy, LLC as Borrower, BNP Paribas, as Administrative Agent, and the Lenders and agents Party thereto (incorporated herein by reference to Exhibit 4.3 to Current Report on Form 8-K filed April 9, 2010) |
| 31             | .1†  | —     | Section 302 Certification of Mark E. Ellis, President and Chief Executive Officer of Linn Energy, LLC |
| 31             | .2†  | —     | Section 302 Certification of Kolja Rockov, Executive Vice President and Chief Financial Officer of Linn Energy, LLC |
| 32             | .1†  | —     | Section 906 Certification of Mark E. Ellis, President and Chief Executive Officer of Linn Energy, LLC |
| 32             | .2†  | —     | Section 906 Certification of Kolja Rockov, Executive Vice President and Chief Financial Officer of Linn Energy, LLC |

| † | Filed herewith. |
|---------|-----------------|

| * | The schedules to this agreement have been omitted from this filing pursuant to Item 601(b)(2) of Regulation S-K.  The Company will furnish copies of such schedules to the Securities and Exchange Commission upon request. |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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SIGNATURE

|                      | LINN ENERGY, LLC                                          |
|---------------------------|-----------------------------------------------------------|
|                      | (Registrant)                                              |
|                      |                                                      |
|                      |                                                      |
| Date: April 29, 2010 | /s/  David B. Rottino                           |
|                      | David B. Rottino                                          |
|                      | Senior Vice President and Chief Accounting Officer        |
|                      | (As Duly Authorized Officer and Chief Accounting Officer) |

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