2008-10-10-2008-10-10-2008-12-04

Bought deep rights only in OK Woodford shale including no producing reserves.

The MLP Linn Energy LLC, Houston, (NasdaqGS: LINE) has completed its divestiture of deep rights in certain central Oklahoma acreage, including the Woodford shale interval, to an undisclosed buyer for $202 million in cash. The sale included no producing reserves and Linn Energy retained the rights to the shallow portion of the acreage. Following the sale, the company expected to have available capacity in excess of $600 million, including cash on its balance sheet. These assets were acquired from Dominion Resources Inc., Richmond, Va., (NYSE: D) in August 2007. Linn plans to use the net proceeds to reduce debt. During 2008, Linn sold some $1 billion in assets in three transactions.