XTO Energy acquires Marcellus shale leasehold

By OGJ editors
HOUSTON, Apr. 15 -- XTO Energy Inc. agreed to acquire producing properties, pipeline, and leasehold acreage from Linn Energy LLC for $600 million.

The purchase includes 152,000 net acres of Marcellus shale leasehold in western Pennsylvania and West Virginia. XTO estimates proved reserves to be 145 bcfd of gas equivalent from the shallow Mississippian and Devonian reservoirs.

The acquisition will add 25 MMcfd to XTO's production base. The pipeline and gathering facilities included in the transaction are valued at $50 million.

The acquisition is scheduled to close on or before Jul. 1.

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