Linn Energy LLC, Houston, (Nasdaq: LINE) plans to acquire certain properties in the Midcontinent from Dominion Resources Inc., Richmond, Va., (NYSE: D) for $2.05 billion. The assets include 2,500 producing wells in Oklahoma, the Texas Panhandle and Kansas. Proved reserves are more than 760 billion cubic feet of gas equivalent (93% gas and gas liquids, 75% proved developed) and proved and potential reserves are more than 2 trillion cubic feet equivalent. Pro forma, Linn will have proved reserves of 1.6 trillion cubic feet equivalent and more than 5,000 drilling locations.
Recommended Reading
Biden Blocks Japan’s Nippon Steel from Buying US Steel for $14.9B
2025-01-03 - President Biden cited national security concerns in his decision, but Nippon Steel and U.S. Steel said the decision ignored the law and was motivated by politics.
Delek Closes $285MM Buyout of Permian’s Gravity Water Midstream
2025-01-03 - Delek Logistics continues to focus on bolstering its Permian Basin infrastructure holdings with the acquisition of Gravity Water Midstream.
Pembina Closes $290MM Deal for Stake in Whitecap’s NatGas Facility
2025-01-02 - Pembina Gas Infrastructure closed a CA$420 million transaction to acquire interests in Whitecap Resources’ natural gas processing facility in Alberta, Canada.
One Equity Partners Completes Acquisition of EthosEnergy
2025-01-02 - Private equity firm One Equity Partners said it purchased EthosEnergy to meet the growing maintenance needs of the gas power market.
EQT Closes $1.25B Non-Op Appalachia Divesture to Equinor
2024-12-31 - EQT Corp. said the proceeds of the sale to Equinor were used to repay outstanding borrowings under its revolving credit facility related to its acquisition of Equitrans Midstream Corp.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.