LINN Energy has signed a definitive agreement to sell its interest in properties located in the Altamont Bluebell field to an undisclosed buyer for a contract price of $132 million, subject to closing adjustments. The properties to be sold consist of approx. 36,000 net acres in Utah with third quarter net production of approx. 1,450 BOE/d, proved developed reserves of ~5.8 MMBOE and proved developed PV-10 of approx. $75 million.Â Annualized field level cash flow on these properties is approximately $8.4 million. The sale is expected to close in the first quarter of 2018 with an effective date of August 1, 2017. This transaction is subject to satisfactory completion of title and environmental due diligence, as well as the satisfaction of closing conditions. CIBC Griffis & Small and Jefferies LLC acted as co-financial advisors and Kirkland & Ellis LLP as legal counsel during the transaction. Original article link Source: LINN Energy 
LINN Energy has signed a definitive agreement to sell its interest in properties located in the Altamont Bluebell field (Utah) to an undisclosed buyer for US$132 MM.