By Noah Brenner
16 March 2012 01:02 GMT
US independent Linn Energy has bought a portfolio of natural gas assets in East Texas from an undisclosed seller for $175 million.
The package includes 24 million cubic feet per day of production, almost all of which is gas, coming from 430 wells on 19,800 net acres.
The deal, which is expected to close around 1 May, will be funded from the company’s revolving credit facility.
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Privately held US player Samson Energy plans to sell off its deep-water oil and gas business, a portfolio that includes stakes in a number of high-profile Gulf of Mexico discoveries and prospects.
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