Linn Energy LLC said that bankruptcy may be unavoidable as the oil-and-gas producer missed interest payments amid a slump in oil prices, Reuters reported on Tuesday. The company, which operates in California, Wyoming and North Dakota shale fields, said that there was substantial doubt about its ability to continue as a "going concern" after it decided to skip interest payments due on Tuesday. It said it has a grace period of 30 days to make interest payments totaling around $60 million. With around $10 billion in debt, Linn would be the largest U.S. oil company to seek bankruptcy protection in the current energy rout.
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