One-Page Deal Sheet
Linn Energy Acquires Bakken Oil Properties
Linn Energy, Inc Concho Resources, Inc.
Announced Date
February 28,2011
Close Date
March 31,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
196
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
North Dakota
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
LINN Energy, LLC signed a definitive purchase agreement to acquire certain oil properties in the Bakken play from Concho Resources for a contract price of $196 million, subject to closing conditions. The Company anticipates this acquisition will close on or before March 31, 2011. The properties are expected to add current net production of approximately 1,350 Boe/d (94 percent oil), proved reserves of approximately 8 MMBoe (83 percent oil) and more than 400 potential oil drilling locations.
"The Bakken acquisition provides LINN with a foothold position in a premier oil basin with vast…
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