Exploration & Production | Top Story | Deals - Property For Sale | Deals - Acquisition, Mergers, Divestitures
LINN Looks to Sell Granite Wash Assets to Fund Devon Deal
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LINN Energy has unveiled plans to sell its position in the Granite Wash and Cleveland plays located in the Texas Panhandle and western Oklahoma.
The sale will fund LINN's latest multi-billion dollar asset deal with Devon Energy.
Currently, LINN is operating four drilling rigs in the area and producing 230 MMcfe/d of liquids-rich natural gas. LINN's talented team has successfully tested and developed 17 horizontal intervals, including shallow oil, liquids-rich Granite Wash and deep Atoka natural gas. As a result of this delineation, LINN has catalogued significant drilling inventory over its approximately 147,000 net acre position. LINN first began horizontally drilling the Granite Wash in 2010 and has grown production in this prolific area from 65 MMcfe/d to its current rate. To support…
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