Linn Energy is all in when it comes to drilling for oil and natural gas across the US, although in recent years the company has narrowed its focus to exploiting assets in the Mid-Continent, California, and the Permian Basin. In 2015 the company reported proved reserves of 4.5 trillion cu. ft. of natural gas equivalent. The company operates about 72% of its more than 26,800 gross productive wells. In addition to its core oil and gas activities, Linn Energy pursues an aggressive hedging strategy to reduce the effects of oil price volatility on its annual income. However, hurt by a prolonged period of low commodity prices, in 2016 the financially overextended company filed for Chapter 11 bankruptcy protection.