Midstates Pays $620M For Anadarko Basin Acreage

Law360, New York (April 4, 2013, 3:33 PM EDT) -- Private equity-backed Midstates Petroleum Inc. has snapped up 140,000 underdeveloped acres in the Anadarko Basin from Linn Energy Holdings LLC and its partners for $620 million, strengthening its Texas and Oklahoma producing asset base, Midstates said Thursday.

The assets have roughly 36.4 million barrels of oil equivalent in proved reserves and are producing at roughly 8,000 BOE per day, Midstates said. The acreage, which is primarily in Texas, holds a mix of oil and natural gas liquids.

The deal, which has an effective date of April...
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