Linn Energy Snaps Up BP's Hugoton Fields For $1.2B

Law360, New York (February 27, 2012, 9:36 PM EST) -- Linn Energy LLC will buy BP America Production Co.'s Hugoton Basin properties in Kansas for roughly $1.2 billion, in a move that will give it full control over BP’s Jayhawk Natural Gas Processing Plant in the fields, the Texas oil and natural gas company announced Monday.

The fields, which include some 2,400 wells and 600,000 net acres of land, will generate roughly $160 million in earnings before interest and taxes in 2012 and provide more than 800 future drilling locations, Linn said in a statement....
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