Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Linn Energy LLC    LINE

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Linn Energy To Pay $400 Million For Stake In Anadarko Field

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/03/2012 | 09:04pm CEST

Linn Energy LLC (>> Linn Energy, LLC) on Tuesday agreed to pay $400 million for a stake in a Wyoming oilfield developed by Anadarko Petroleum Corp. (APC), adding to Linn's growing portfolio of mature U.S. assets.

Anadarko assigned Linn 23% of its interest in its Salt Creek field, part of a group of oil deposits in Wyoming's Powder River Basin. Linn plans to foot $400 million of Anadarko's development costs over the next three to six years while investing $200 million more to fund its own stake in the field.

The investment expands Linn's growing base of so-called legacy fields, many of which contain oil or gas once considered too expensive to recover. New drilling techniques combined with climbing oil prices have made such areas more attractive for drilling in recent years, a trend that has underpinned Linn's growth strategy.

The latest deal comes after BP PLC (BP, BP.LN) in February agreed to sell Linn $1.2 billion of natural gas assets in Kansas, part of the British oil giant's effort to slim down its U.S. portfolio.

Anadarko has pumped carbon dioxide into the Salt Creek field since 2004, one of several enhanced oil recovery tools oil producers have used in recent years to boost production from harder-to-reach deposits. Linn said its new joint venture will give the company more experience with carbon-dioxide and other enhanced recovery techniques.

"We believe this long-life asset is unique because it is expected to deliver 10 years of steady production growth while, at the same time, providing a low base-decline rate," Linn Chairman and Chief Executive Mark E. Ellis said.

As it does with other fields, Linn has already hedged all of the current net production associated with the joint venture through 2014. The new investment is expected to double current production by 2015, Linn said.

Linn shares were recently up 1.2% at $38.64 mid-Tuesday, while Anadarko was off 47 cents at $78.64, in line with the broader market.

 
   -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com 

Stocks mentioned in the article : Linn Energy, LLC
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LINN ENERGY LLC
09/26 LINN ENERGY, LLC : Entry into a Material Definitive Agreement, Financial Stateme..
09/09 LINN ENERGY, LLC : Entry into a Material Definitive Agreement, Financial Stateme..
08/04 LINN ENERGY : Management's Discussion and Analysis of Financial Condition and Re..
08/03 LINN ENERGY : Bankruptcy Filings Stories from the Bankruptcy Court Dockets
08/02 LINN ENERGY, LLC : Regulation FD Disclosure, Financial Statements and Exhibits (..
07/18 LINN ENERGY, LLC : Entry into a Material Definitive Agreement, Financial Stateme..
07/02 LINNCO : Announces Extension of Subsequent Offering Period for Exchange Offer fo..
06/29 LINN ENERGY : Bankruptcy Filings Stories from the Bankruptcy Court Dockets
05/26 LINNCO : Announces Extension of Subsequent Offering Period for Exchange Offer fo..
05/24 LINN ENERGY : and LinnCo Receive NASDAQ Delisting Notification
More news
Sector news : Oil & Gas Exploration and Production - NEC
09/28DJCanada Gives Conditional Approval to Petronas's LNG Terminal
09/27DJAGL Energy Adds Oil Search's CEO to its Board
09/27 When deals go bad - China state firm managers spooked by new liability rules
09/26 BofA to pay $15.5 million fines for causing 'mini-flash crashes'
09/26DJMerrill Lynch to Pay $12.5 Million Fine for Mini-Flash Crashes
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
05/25 VALUE INVESTOR'S DAILY MACRO : Stop Chasing The Next Market Crash
05/25 LINN ENERGY : A New Low
05/24 LINN ENERGY : Likelihood Of Equity Recovery
05/23 Linn Energy, LinnCo to move to the Pink Sheets tomorrow
05/20 ENERGY RECAP : Introducing 2 New Segments On Bankruptcies And Rig Counts
Advertisement
Financials ($)
Sales 2016 2 406 M
EBIT 2016 -
Net income 2016 -
Debt 2016 -
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
Capi. / Sales 2016 0,01x
Capi. / Sales 2017 0,01x
Capitalization 19,7 M
More Financials
Chart LINN ENERGY LLC
Duration : Period :
Linn Energy LLC Technical Analysis Chart | LINE | US5360201009 | 4-Traders
Full-screen chart
Income Statement Evolution
More Financials
Consensus 
Mean consensus UNDERPERFORM
Number of Analysts 2
Average target price 0,63 $
Spread / Average Target 1 025%
Consensus details
Managers
NameTitle
Mark E. Ellis Chairman, President & Chief Executive Officer
Arden L. Walker Chief Operating Officer & Executive Vice President
David B. Rottino Chief Financial Officer & Executive Vice President
Michael C. Linn Independent Director
Jeffrey C. Swoveland Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
LINN ENERGY LLC-88.37%20
OCCIDENTAL PETROLEUM C..6.35%54 926
CNOOC LTD13.33%53 367
CONOCOPHILLIPS-9.66%52 240
EOG RESOURCES INC32.73%51 738
CANADIAN NATURAL RESOU..39.56%34 681
More Results