Oil and natural gas explorer Linn Energy LLC, whose stock has fallen 96 percent in two years, is exploring “strategic alternatives” to strengthen its balance sheet while dealing with the worst crude market downturn in 30 years.

Oil and natural gas explorer Linn Energy LLC, whose stock has fallen 96 percent in two years, is exploring “strategic alternatives” to strengthen its balance sheet while dealing with the worst crude market downturn in 30 years.

ConocoPhillips joined the ranks of oil explorers curtailing dividend payouts after suffering its steepest quarterly loss in almost a decade. Rival drillers Occidental Petroleum Corp. and Statoil ASA are holding fast for now.