One-Page Deal Sheet
Linn Energy Sells Appalachian Basin, Marcellus Shale Acreage to XTO Energy
XTO Energy Inc. Linn Energy, Inc
Announced Date
April 15,2008
Effective Date
April 01,2008
Close Date
July 01,2008
Transaction Type
Property
Enterprise Value (EV)($MM)
600
Asset/Basin:
{"Appalachian Basin","Marcellus Shale"}
TargetZones:
{"Marcellus Shale",M
Net Acres
Location
Region
Northeast
Country
United States
State
Pennsylvania
Play
Production Production
Transaction Details: Subscribe to see
Linn Energy, LLC announced today that it has agreed to sell all of its interests in oil and gas properties in the Appalachian Basin, including its Marcellus Shale acreage, to XTO Energy Inc. for cash consideration of $600 million, subject to closing adjustments. The Company will use proceeds to reduce indebtedness under its credit facility and anticipates closing on July 1, 2008. The properties include proved reserves, as estimated by a third-party engineering firm at December 31, 2007, of approximately 197 billion cubic feet of natural gas equivalent (99% natural gas) and currently produce…
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