The acquisition of these properties, located primarily in the Granite Wash play of Texas and Oklahoma, is expected to be closed by the end of the year.
The company said it will finance the acquisition with internally generated cash flow and proceeds from borrowings under its revolving credit facility.
The assets being sold to Linn have net production of about 80 million cubic feet equivalent per day and more than 200 low-risk infill drilling locations.
Linn Energy president and CEO Mark Ellis said this transaction will double Linn’s current inventory of horizontal drilling locations to more than 400 in the Granite Wash.
