HOUSTON (AP) — Linn Energy LLC is selling several assets for $2.3 billion, with proceeds likely to be used to finance its purchase of some U.S. oil and gas properties from Devon Energy Corp.
Linn Energy said Friday that it signed a deal to sell its entire position in the Granite Wash and Cleveland properties in the Texas Panhandle and western Oklahoma to affiliates of EnerVest Ltd. for $1.95 billion. It is also selling its Wolfberry positions in the Permian Basin to Fleur de Lis Energy LLC for $350 million.
Houston-based Linn Energy said the sales are expected to close in the fourth quarter.
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In June Linn Energy agreed to buy properties from Devon Energy including those in the Rockies, onshore Gulf Coast and Mid-Continent region.