S&P Places Linn Energy, LLC (LINE) on CreditWatch Negative
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LINN Energy Announces $2.3 Billion Acquisition of Assets from Devon Energy
June 30, 2014 9:03 AM EDTHOUSTON, June 30, 2014 (GLOBE NEWSWIRE) -- LINN Energy, LLC (Nasdaq: LINE) ("LINN" or "the Company") and LinnCo, LLC (Nasdaq: LNCO) ("LinnCo") announced today that LINN has signed a definitive agreement to acquire assets in five U.S. operating areas from Devon Energy Corporation (NYSE: DVN) ("Devon") for $2.3 billion. The assets are currently producing approximately 275 MMcfe/d, approximately 80 percent of which is natural gas, with a shallow base decline of approximately 14 percent. Total proved reserves are estimated to be between 1.3-1.5 Tcfe (approximately 75 percent PDP) with total... More
