LINN Energy has signed a definitive agreement to sell its interest in properties located in the Williston Basin to an undisclosed buyer for a contract price of $285 million, subject to closing adjustments. The properties to be sold consist of approx. 20,000 net acres in North Dakota, South Dakota and Montana with second quarter net production of approx. 8,000 BOE/d, proved developed reserves of ~20 MMBOE and proved developed PV-10 of approx. $186 million. For the fourth quarter of 2017, the Company had budgeted ~$7 million of capital for these properties. The sale is expected to close in the fourth quarter of 2017 with an effective date of March 1, 2017. This transaction is subject to satisfactory completion of title and environmental due diligence, as well as the satisfaction of closing conditions. RBC Richardson Barr and Jefferies LLC acted as co-financial advisors and Kirkland & Ellis LLP as legal counsel during the transaction. Original article link Source: LINN Energy 
United States, not found