This content is from: Innovation

LINN Energy Buys Oil Assets For $434M

Independent explorer and producer, LINN Energy, has acquired oil properties worth about $434 million.

Independent explorer and producer, LINN Energy, has acquired oil properties worth about $434 million. The company bought oil properties in the Bakken play, in North Dakota, from Concho Resources for $196 million.

The other two are bolt-on acquisitions in the Permian Basin of Texas and New Mexico for $238 million. The Bakken deal is expected to be completed by March 31, 2011, while the remaining two will be closed by April 2011.

Click here for the release from Globe Newswire.

Related Content