LINN Energy Inc. 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 BOE/d, proved developed reserves of approximately 20 million BOE and proved developed PV-10 of approximately $186 million. For the fourth quarter of 2017, the company had budgeted approximately $7 million of capital for these properties.
At press time, the sale was expected to close in the fourth quarter of 2017.
For more information, visit www. linnenergy.com or call (281) 840-4000.