LINN Energy Announces $1 Billion Acquisition of BP's Jonah Field Properties
LINN Energy, LLC (Nasdaq: LINE) announced today that it signed a definitive purchase agreement to acquire properties in the Jonah Field, located in the Green River Basin of southwest Wyoming, from BP America Production Company for a contract price of $1.025 billion, subject to closing conditions and a preferential right of purchase. The company anticipates the acquisition will close on or before July 31, 2012, and will be financed with proceeds from borrowings under its revolving credit facility.
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