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Brief -- LINN Energy

LINN Energy LLC and affiliate LinnCo. are selling their remaining Howard County, TX, Permian Basin properties for $281 million to an undisclosed buyer, the companies said Monday. Closing is expected during 3Q2015 with an effective date of May 1, 2015. The properties being sold include 6,400 net acres prospective for horizontal Wolfcamp drilling and 2,000 boe/d of current production from 133 gross wells. At the start of the year, LINN slashed capital spending and cut its dividend due to the depressed commodity price environment (see Shale DailyJan. 2). During 4Q2014, the company announced Texas asset sales worth $2.3 billion with proceeds to be used to fund a recent acquisition from Devon Energy Inc. (see Shale DailyOct. 3, 2014June 30, 2014). Last March, LINN formed a partnership with Quantum Energy Partners to acquire and develop oil and natural gas assets (see Shale DailyMarch 24).

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