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 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 Sells Wyoming Assets for $582 Million
Linn Energy has signed a definitive agreement to sell its interest in properties located in western Wyoming to Jonah Energy LLC for a contract price of $582 million.The properties consist of approximately 27,500 total net acres including ~16,000 net acres in the Jonah and Pinedale Anticline fields with...
Linn Sells Wyoming Assets for $582 Million
Global DealsLinn Energy has signed a definitive agreement to sell its interest in properties located in western Wyoming to Jonah Energy LLC for a contract price of $582 million.
The properties consist of approximately 27,500 total net acres including ~16,000 net acres in the Jonah and Pinedale Anticline fields with Q1-2017 net production of approximately 129 MMcfe/d, proved reserves of ~384 Bcfe and proved developed PV-10 of approximately $369 million.
The sale is expected to close in Q2-2017.
View Linn Energy press release
May 3, 2017 - 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 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
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