Linn Acquires Permian Basin Assets for $525 Million
Linn Energy signed an agreement to acquire Permian Basin assets for $525 million. The assets include more than 300 proved low-risk infill drilling opportunities as well as future waterflood potential.Asset HighlightsCovers 6,250 net acres including approximately 124 producing wellsEstimated net production (in...
Linn Acquires Permian Basin Assets for $525 Million
Global Deals, Headlines, OthersLinn Energy signed an agreement to acquire Permian Basin assets for $525 million. The assets include more than 300 proved low-risk infill drilling opportunities as well as future waterflood potential.
Asset Highlights
- Covers 6,250 net acres including approximately 124 producing wells
- Estimated net production (in the next 12 months) of 4.8 MBOE/d (63% oil) from the Clearfork formation
- 1P reserves 30 MMBOE (70% oil) with future additional waterflood reserve potential of approximately 24 MMBOE
September 12, 2013
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Linn acquires Wyoming property from BP for $1 billionGlobal Deals, Headlines, Others
BP to sell interests in the Jonah and Pinedale fields in the Green River basin, Southwest Wyoming, to Linn for $1.025 billion:
- 750 producing wells and more than 12,500 net acres in Wyoming
- Production of 146 MMcfe/d (55% operated) and 1P reserves of ~730 Bcfe (56% PDP, 73% gas, 23% NGL and 4% oil)
- Unadjusted metric of $8.42/BOE for proved reserves and $42,124/Daily BOE for production
View press releases: Linn,
This is the second transaction between Linn and BP. In Feb-2012, Linn acquired BP's Kansas assets for $1.2 billion.
June 26, 2012 - Linn in $90 Million Anadarko Basin Acreage Sale
Linn Energy has entered into an agreement to sell its Woodford and Meramec horizons on about 26,000 undeveloped acres in the Anadarko Basin, for $90 million. The company expects the recently announced acquisition with Pioneerto be funded through this transaction along with the planned sale of other...
Linn in $90 Million Anadarko Basin Acreage Sale
OthersLinn Energy has entered into an agreement to sell its Woodford and Meramec horizons on about 26,000 undeveloped acres in the Anadarko Basin, for $90 million. The company expects the recently announced acquisition with Pioneer to be funded through this transaction along with the planned sale of other producing and non-producing acreage in Linn's portfolio.
The transaction is expected to close in Q4-2014.
August 5, 2014 - Linn Shares Q3-2012 Results, Financial Outlook
Linn Energy updated its Q3-2012 guidance and financial outlook for the year 2012. The company also shared results of the Hogshooter drilling program in the Granite Wash.Q3-2012:Adjusted EBITDA expected to be $380 million; production estimated at 760 to 780 MMcfe/dFull-year 2012:Adjusted EBITDA forecasted at...
Linn Shares Q3-2012 Results, Financial OutlookOthers, Results & ReportsLinn Energy updated its Q3-2012 guidance and financial outlook for the year 2012. The company also shared results of the Hogshooter drilling program in the Granite Wash.
- Q3-2012: Adjusted EBITDA expected to be $380 million; production estimated at 760 to 780 MMcfe/d
- Full-year 2012: Adjusted EBITDA forecasted at $1.4 billion; production guidance projected at 660 to 685 MMcfe/d
- Hogshooter Drilling Program: Nine operated horizontal wells drilled in Q3-2012. Initial production rate achieved: 1.98 Mbbl/d of oil, 534 Bbl/d of NGLs, 3.4 MMcf/d of natural gas per well.
September 28, 2012 - Linn Energy Announces Q3-2012 Results
LINN Energy announced its financial and operating results for Q3-2012. HighlightsAverage daily production increased by 106% to 782 MMcfe/dAdjusted EBITDA increased by 65% to $402 millionNine Hogshooter wells completed with average initial production rates of ~1,983 Bbl/d of oil, 534 Bbl/d of NGLs and 3.4...
Linn Energy Announces Q3-2012 ResultsOthers, Results & ReportsLINN Energy announced its financial and operating results for Q3-2012.
Highlights
- Average daily production increased by 106% to 782 MMcfe/d
- Adjusted EBITDA increased by 65% to $402 million
- Nine Hogshooter wells completed with average initial production rates of ~1,983 Bbl/d of oil, 534 Bbl/d of NGLs and 3.4 MMcf/d of natural gas per well
October 26, 2012 - Linn Prices $1.1 Billion Senior Notes Offering
Linn Energy has priced an offering of $450 million of 6.5% senior unsecured notes due 2019 at an offering price equal to 102% of par and $650 million of 6.5% senior unsecured notes due 2021 at an offering price equal to 98.619% of par.The 6.5% senior notes due 2019 are being offered as additional notes under...
Linn Prices $1.1 Billion Senior Notes OfferingHeadlinesLinn Energy has priced an offering of $450 million of 6.5% senior unsecured notes due 2019 at an offering price equal to 102% of par and $650 million of 6.5% senior unsecured notes due 2021 at an offering price equal to 98.619% of par.
The 6.5% senior notes due 2019 are being offered as additional notes under an indenture pursuant to which Linn issued $750 million aggregate principal amount of 6.5% senior notes due 2019 on 13-May-2011. These additional 6.5% senior notes due 2019 are substantially identical to, and will be treated as a single class of debt securities with, such previously issued 6.5% senior notes due 2019 under the indenture governing such notes. The offering of both series of senior notes is expected to close on 9-Sep-2014.
Barclays Capital, Scotia Capital, RBC Capital Markets, Wells Fargo Securities, Citigroup Global Markets, Crédit Agricole Corporate and Investment Bank, Goldman Sachs, RBS Securities and UBS Securities are acting as joint book-running managers for the offering.
September 5, 2014
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