One-Page Deal Sheet
BP Sells Kansas Gas Assets to Linn Energy for $1.2 Billion
Linn Energy, Inc Not Disclosed
Announced Date
February 27,2012
Close Date
March 30,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
1200
Asset/Basin:
{"Hugoton Basin"}
TargetZones:
{Chase,"Council Grov
Location
Transaction Details: Subscribe to see
BP announced today that it has agreed to sell its interests in the Hugoton, Kansas, Jayhawk gas processing plant and associated producing gas fields in Kansas to an affiliate of LINN Energy, LLC.
Under the agreement, LINN Energy has agreed to pay BP $1.2bn in cash. Completion of the agreement is subject to closing conditions including the receipt of all necessary governmental and regulatory approvals. The sale is currently expected to complete on 30 March, 2012.
The agreement includes the sale of all of BP’s working interest in about 2,400 wells in the Hugoton natural gas field, as well as the…
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