Linn Energy LLC (NASDAQ: LINE) on Tuesday agreed to buy oil and natural gas properties in the Permian and Anadarko Basins for $154.5 million, according to Associated Press.
The oil and gas company did not disclose the seller. Linn said it expects the deal to close on or before Jan. 29. The company plans to finance the deal with an existing credit facility.
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The properties have a current net production of about 1,700 barrels of oil equivalent per day, with proved reserves amounting to about 12 million barrels of oil equivalent.
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