Linn Energy (LINE) Sells Woodford Shale Acreage For $229M
More News related to LINE
- Merrill Lynch Downgrades, Cut Targets On Independent Oil & Gas Stocks (APC, DVN, KWK, SM, More ...)
- Linn Energy (LINE) Misses Q3 View 4c
- Linn Energy Announces Strong Results in Third Quarter 2008
- Trading Radar for 11/06: Disney (DIS), Anheuser-Busch (BUD), NVIDIA (NVDA), Nasdaq (NDAQ), Toyota (TM), Priceline.com (PCLN) Reports; Initial Jobless Claims, Preliminary Productivity for Q3 Due
- Citi Issues List of 50 Highest Dividend Yield Stocks (MIC, FLY, AYR, GCI, OMX, STI, More...)
More News related to Mergers and Acquisitions
- Sandler O'Neill Upgrades Wintrust Financial (WTFC) to Hold
- Gabelli & Co. Upgrades Barnes Group (B) to Buy
- Matrix Upgrades/Downgrades for December 1, 2008
- Wall Street Access Upgrades Cummins (CMI) to Buy
- RBC Capital Upgrades Hospitality Properties Trust (HPT) to Outperform
Linn Energy, LLC (Nasdaq: LINE) entered into a purchase and sale agreement to sell its deep rights in certain central Oklahoma acreage, which includes the Woodford Shale interval, for cash consideration of $229 million, subject to closing adjustments.
The sale includes no producing reserves and Linn Energy will retain the rights to the shallow portion of this acreage. Linn Energy anticipates closing during the fourth quarter 2008. Pro forma for the transaction, the Company expects to have available capacity of over $600 million, including cash on its balance sheet.
Related Categories
Mergers and AcquisitionsStocks Mentioned
+0.00Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
