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Bharat Vasandani Madhavan N. & Hari... Urvish Dave

Market & Company Research Store > Details

Year: 2012

Contents: 9 pages

Country: United States

Sector: Exploration and Production (Energy)
LINN Energy to Expand its Operation in Wyoming by Acquiring Jonah and Pinedale Properties from BP for $1.03 Billion - Deal Analysis from GlobalData

Summary

Linn Energy, LLC, (Linn) has agreed to acquire the Jonah and Pinedale properties in the Green River Basin of southwest Wyoming from BP America Production Company, a wholly-owned subsidiary of BP plc (BP), for a purchase consideration of $1.03 billion in cash. The company intends to fund the acquisition with proceeds from borrowings under its revolving credit facility. The acquisition will provide Linn with a significant operated position in the Green River Basin of Wyoming. Barclays Capital Inc., BMO Capital Markets Corp. and RBC Richardson Barr are acting as financial advisors to Linn for the acquisition. The acquisition is expected to be completed on or before July 31, 2012, subject to closing conditions and a preferential right of purchase. The transaction implies deal values of $42,123.29 per boe of daily production and $8.42 per boe of proved (1P) reserves.

Scope

- Rationale behind acquisition of Jonah and Pinedale Properties by Linn
- Stratigic benefits for the companies involved in the transaction
- Geography covered - US

Reasons to buy

- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures undertaken by Linn.
- Rationale behind the acquisition of Jonah and Pinedale properties.
- Identify the reason of Linn acquiring Jonah and Pinedale properties from BP

Keywords

Jonah, Pinedale,Green River Basin, Wyoming
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