2008-09-24-2007-12-12-2008-01-31

Acquired Midcontinent assets, gaining 50 MMBOE proved.

Linn Energy LLC, Houston, (Nasdaq: LINE) has closed its acquisition of certain oil and gas properties primarily in the Midcontinent from privately owned, Skiatook, Okla.-based Lamamco Drilling Co. for $552 million. The assets include 103,000 gross acres with more than 800 identified optimization and development projects. Production is more than 4,000 barrels of oil equivalent per day. Proved reserves are more than 50 million barrels equivalent (88% oil, 70% proved developed). With this acquisition, Linn has proved reserves of approximately 1.9 trillion cubic feet of gas equivalent and more than 5,500 drilling locations. Linn funded the deal with borrowings from its revolving credit facility and proceeds from a committed term-loan facility. Linn chairman and chief executive Michael C. Linn says, "These are excellent MLP assets, which complement our existing portfolio in the Midcontinent. This acquisition provides significant organic growth potential with more than 800 development and optimization projects."