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Linn Energy To Gain ND Foothold In $434M Oil Buy

Law360 (February 28, 2011, 6:36 PM EST) -- Houston-based Linn Energy LLC announced a $434 million purchase of oil properties Monday that would allow it to establish a foothold in the Williston Basin in North Dakota and expand its presence in the Permian Basin of Texas and New Mexico.

Linn purchased assets in the Bakken play of the Williston Basin for $196 million from Concho Resources Inc. It did not disclose the seller of the other two properties.

Mark E. Ellis, Linn's president and CEO, said in a press release that the Bakken play...
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