Linn Energy to buy Jonah Field assets

摘要

Linn Energy LLC, Houston (Nasdaq: LINE), plans to enter the Green River Basin of southwest Wyoming via an acquisition in Jonah Field from BP America Production Co. for $1,025 billion in cash. The assets include approximately 750 producing wells on more than 12,500 net acres. Current production is about 145 million cu. ft. equivalent per day (55% operated by production), with a decline rate of approximately 14%. Proved reserves are approximately 730 billion cu. ft. equivalent, 56% proved developed producing. About 73% of the reserves are natural gas, 23% liquids and 4% oil. Identified resource potential is 1.2 trillion cu. ft. equivalent.