Linn To Acquire Texas And West Virginia Assets

Linn Energy LLC, Houston, (Nasdaq: LINE) plans to acquire properties in Texas and West Virginia in three separate transactions from undisclosed sellers for a total purchase price of $454 million in cash. The first deal involves the acquisition of assets in the Texas Panhandle from a private producer for $415 million. The property features 820 producing wells (55% gas liquids) with proved reserves of 55 million barrels of oil equivalent (50% proved developed). The two remaining deals involve the acquisition of gas properties in the Appalachian Basin of West Virginia for $39 million. The properties feature more than 55 producing wells (99% gas) with proved reserves of 24- to 26 billion cubic feet of gas.