Linn Energy to sell west Texas properties for $119M

|By:, SA News Editor

Linn Energy (OTCQB:LNGG +0.3%) agrees to sell its west Texas conventional assets to an unnamed buyer for $119.5M, as it opts to focus on its Oklahoma oil and gas developments.

Linn says the properties to be sold consist of 28K net acres in west Texas with 2017 net production of 6,300 boe/day and proved developed reserves of 14.4M boe.

Investor presentation at Credit Suisse 2018 Energy Summit

Subscribe for full text news in your inbox

This was corrected on 02/14/2018 at 05:17 PM. The headline has been corrected to reflect the $119M sale price. Seeking Alpha regrets the error in the original post.