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Linn on Asset Hunt, Packing $1.0 B War Chest
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LINN Energy, LLC and LinnCo, LLC has announced today that LINN has signed a non-binding letter of intent with private capital investor Quantum Energy Partners to fund selected future oil and natural gas acquisitions and development on those acquired assets.
Alliance with QuantumSubject to final documentation, Quantum has agreed to initially commit up to $1 billion of equity capital to fund acquisitions and development of oil and natural gas assets.
LINN will have the ability to participate in all acquisition opportunities with a direct working interest ranging from 15 percent to 50 percent.
AcqCo assets will be managed by LINN in exchange for a reimbursement of general and administrative expenses. Additionally, after certain investor return hurdles are met, LINN will have the ability to…
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