Linn Energy sells Williston basin properties for $285 million

10/23/2017

HOUSTON -- Linn Energy, Inc., has announced that it has signed a definitive agreement to sell its interest in properties located in the Williston basin to an undisclosed buyer for a contract price of $285 million, subject to closing adjustments.

The properties to be sold consist of approximately 20,000 net acres in North Dakota, South Dakota and Montana, with second quarter net production of approximately 8,000 boed, proved developed reserves of ~20 MMboe and proved developed PV-10 of approximately $186 million. For the fourth quarter of 2017, the Company had budgeted ~$7 million of capital for these properties.

The sale is expected to close in the fourth quarter of 2017 with an effective date of March 1, 2017. This transaction is subject to satisfactory completion of title and environmental due diligence, as well as the satisfaction of closing conditions.

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