One-Page Deal Sheet
Linn Energy Acquires Granite Wash Properties from Plains Exploration for $600 Million
Linn Energy, Inc Plains Exploration & Production Company
Announced Date
April 11,2011
Close Date
December 15,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
600
Location
Calculated Metrics( EV/Category)
Region
Mid-Continent
Country
United States
State
Texas
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Production ($/Mcfe/d)
Transaction Details: Subscribe to see
LINN Energy, LLC announced today that it signed a definitive purchase agreement to acquire mid-continent oil and natural gas properties located primarily in the Granite Wash of Texas and Oklahoma from Plains Exploration & Production Company (PXP) for a contract price of $600 million, subject to closing conditions. The Company anticipates the acquisition will close on or before Dec. 31, 2011, and will be financed with internally generated cash flow and proceeds from borrowings under its revolving credit facility.
"This acquisition represents substantially all of Plains' assets in the…
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