LINN Energy sells remaining Permian basin acreage for $281 million

LINN Energy, LLC and LinnCo, LLC announced Monday that LINN has signed a definitive agreement to sell its remaining position in Howard County in the Permian basin for a contract price of $281 million.

The properties sold include approximately 6,400 net acres prospective for horizontal Wolfcamp drilling and approximately 2.0 Mboed of current production from 133 gross wells.

The transaction is subject to satisfactory completion of title and environmental due diligence, as well as the satisfaction of closing conditions.

The transaction is expected to close in third-quarter 2015 with an effective date of May 1, 2015.

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