One-Page Deal Sheet
Linn Energy Acquires Permian Basin Properties from Henry Resources
Linn Energy, Inc Henry Resources Llc
Announced Date
March 29,2010
Close Date
May 27,2010
Transaction Type
Property
Enterprise Value (EV)($MM)
323
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/Location
Transaction Details: Subscribe to see
LINN Energy, LLC announced today that it signed a definitive purchase agreement to acquire oil and natural gas properties located in the Permian Basin for a contract price of $305 million, subject to closing conditions. The Company anticipates that the acquisition will close on or before May 27, 2010, and will be financed with proceeds from borrowings under its revolving credit facility.
"This bolt-on acquisition is expected to double LINN's oil production and reserves in the Permian Basin and significantly increases our presence in this area. With approximately 120 proved low-risk infill…
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