The fields on 156 leases spanning 13,400 acres are currently producing 3,300 barrels of oil per day.
The company said that the immediate plan for the fields is to increase oil production and conduct further drilling to optimize output.
The fields contain net proven reserves (1P) of 20.5 million barrels of oil (mmbo), and net proven and probable reserves (2P) of 22.3mmbo.
Linc Energy is using about 75% debt funding to purchase the ERG Resources assets.
