25 July 2006 - 17:12
  • News ID: 86590

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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