Linn Energy (LINE) agrees to acquire BP's Jonah Field properties in Wyoming's Green River Basin...


Linn Energy (LINE) agrees to acquire BP's Jonah Field properties in Wyoming's Green River Basin for $1.025B. LINE expects the properties to provide ~145M cubic ft. equivalent per day of liquids-rich natural gas production. "The long-life, low-decline characteristics of the Jonah Field make this asset an excellent fit for us," the company says.

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Comments (5)
  • CaptKorn
    , contributor
    Comments (154) | Send Message
     
    Why bother drilling when they can buy producing assets for less than there hedged sale price. I think this is a great plan for the future and I am getting hedged payouts now. Of course commodities prices could stay low for ever but I think this is very unlikely. My guess is they will hold off new hedges till gas prices recover to $5/6 and oil $90/110 as there is no rush.
    25 Jun 2012, 10:28 AM Reply Like
  • remurraymd
    , contributor
    Comments (2274) | Send Message
     
    (LINE) our fav in the space great dividends.
    25 Jun 2012, 10:38 AM Reply Like
  • A Newell
    , contributor
    Comments (508) | Send Message
     
    I think this is a win for me since I own both stocks.
    25 Jun 2012, 10:49 AM Reply Like
  • adagostini
    , contributor
    Comment (1) | Send Message
     
    been buying line since late 2007 [on dips ]. time to start buying when 2nd pricing known. been collecting divs all this time and still feel pot of gold at end of rainbow....stay tatient, in my opinion this management is beyond peer. knew something was going when n.g.up 1.00 ans stock down now over 20%
    25 Jun 2012, 05:22 PM Reply Like
  • A Newell
    , contributor
    Comments (508) | Send Message
     
    yes I agree very much...I am almost thinking of extablishing this one as a legacy holding!
    26 Jun 2012, 01:57 AM Reply Like
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