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Linn Energy continues to pump more oil and gas from the ground despite dramatic spending reductions, the company announced Wednesday.
Proceeds from Linn’s sales will be to pay for $2.3 billion worth of assets it bought Devon Energy Corp.
HOUSTON — Linn Energy inked a $340 million deal to buy 235,000 net acres in the Hugoton Basin from Pioneer Natural Resources Co. and announced a $90 million sale in the Anadarko Basin. The deals, done by Linn Energy and its related LinnCo, are the latest in a string of acquisitions and sales the company […]
Houston’s Linn Energy has inked a deal to buy assets in five U.S. operating areas from Devon Energy Corp. for $2.3 billion.
There are 834 drilling rigs hunting oil and gas in Texas – 47.5 percent of U.S. rigs and 24 percent of drilling rigs worldwide, according to the latest Baker Hughes Rig Count. Most of the Texas rigs are working in five major fields.
In case you were wondering whether there was really an oil Renaissance happening in Texas, the state has 838 drilling rigs – about 47 percent of all U.S. rigs and 26 percent of drilling rigs worldwide.
Texas is awash in oil and gas, with rigs proliferating from the Permian Basin to the Haynesville Shale. Now, another shale play in West Texas is causing a stir, with early estimates of recoverable reserves at 30 billion barrels of oil.
Joining of two private E&P firms creates a larger firm with a presence in Texas’ Permian Basin.