Linn Energy plans three oil, gas acquisitions

By OGJ editors
HOUSTON, Dec. 14 -- Linn Energy LLC has agreed to acquire a private oil and gas company in the Texas Panhandle for $415 million and two Appalachian basin properties for $39 million in three separate transactions.

The Texas transaction involves a field with a production mix of 55% NGL, 35% gas, and 10% crude oil from more than 820 wells. The acquisition involves estimated proved reserves of 55 MMboe (over 50% proved developed.)

The Appalachian transactions involve more than 55 producing natural gas wells in West Virginia. Those properties have 24-26 bcf of estimated proved reserves, Linn Energy said.

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