2010-01-07-2009-12-01-2010-01-29

Bought properties in Permian and Anadarko basins, gaining 12 MMBOE proved, 1,700 BOE/d.

Linn Energy LLC, Houston, (Nasdaq: LINE) plans to acquire oil and gas properties in the Permian and Anadarko basins from an undisclosed seller for $154.5 million. The assets include proved reserves of more than 12 million barrels of oil equivalent (approximately 80% liquids; 80% proved developed). Current net production is approximately 1,700 barrels of oil equivalent per day (approximately 73% liquids). The reserve life is approximately 20 years. Upside includes approximately 100 proved low-risk infill drilling and optimization opportunities. Linn chairman and chief executive Michael C. Linn says, "This acquisition increases our exposure to oil, which offers very attractive margins in the current commodity price environment. The long-life, low-decline characteristics and geographic location of these properties make them an attractive addition to our asset portfolio in the Permian and Midcontinent areas." Linn will pay for the acquisition using its existing credit facility. Closing is expected by Jan. 29.