Linn Preps For $1B IPO, Scoops Up $1B Of BP Gas Assets

Law360, New York (June 25, 2012, 2:06 PM EDT) -- Houston-based Linn Energy LLC announced Monday it will pay more than $1 billion for 12,500 acres in BP America Production Co.'s upstream Wyoming natural gas operation, the same day its newly formed rights-owning subsidiary filed for a $1 billion initial public offering.

The $1.03 billion cash purchase of 750 operating wells in southwest Wyoming's Jonah Field comes as Linn Co. LLC prepares to go public. The company has not yet determined how many shares it intends to offer or how it will price them, but the...
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