PITTSBURGH, PA, -- Linn Energy LLC of Pittsburgh is spending $416 million to buy natural gas and oil properties in California and Oklahoma.
Linn is buying 270 oil wells in Orange County, Calif., from Blacksand Energy LLC for $291 million and interests in 411 natural gas wells in north central Oklahoma from Kaiser-Francis Oil Co. for $251 million.
'Both acquisitions are characterized by long-lived reserves and low natural decline rates and complement Linn Energy`s existing asset profile,' Linn said Tuesday in a statement.
PIN/UPI
News ID 86590
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