Linn Energy To Pay $154M For Oil, Gas Properties

Law360, New York (December 1, 2009, 1:14 PM EST) -- Houston-based Linn Energy LLC plans to buy U.S. oil and natural gas properties in the Permian and Anadarko basins for $154.5 million, the company announced Tuesday.

Linn Energy will finance the acquisition through an existing credit facility and plans to close the deal by Jan. 29, 2010, it said.

The properties, located in the Southwestern U.S., have a current net oil production of about 1,700 barrels per day and proven oil reserves of more than 12 million barrels.

"This acquisition increases our exposure to oil, which...
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