• +353-1-416-8900(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
LINN Energy to Expand its Operation in Wyoming by Acquiring Jonah and Pinedale Properties from BP for $1.03 Billion - Deal Analysis from GlobalData - Product Image

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

  • Published: July 2012
  • Region: Wyoming
  • 9 pages
  • GlobalData

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
- READ MORE >

1
1

1.1 List of Tables
1.2 List of Figures
2 LINN Energy to Acquire Jonah and Pinedale Properties from BP for $1.02 Billion
2.1 Deal Overview
2.2 Deal in Brief
2.3 Linn to Expand its Operation in Wyoming by Acquiring Jonah and Pinedale Properties
2.4 BP to Divest its Stake in Matured Jonah and Pinedale Properties as per its Portfolio Restructuring Strategy
2.5 Linn to Acquire Jonah and Pinedale Properties at around 2% Discount
2.6 Deal Financials and Valuations
3 Appendix
3.1 Methodology
3.2 Contact Us
3.3 Disclaimer

1.1 List of Tables
Table 1: Linn, Major Acquisition of Linn in US, 2011 to Present
Table 2: BP, Major Divestment of Matured Assets and Investment in Potential Assets, January 2012 to Present
Table 3: Wyoming, 1P Reserve Multiples for Similar Deals, June 2009 till present
Table 4: Companies Involved
Table 5: Financials of the Deal
Table 6: Advisor Information
Table 7: Target Information
Table 8: Target’s Production and Reserves Information
Table 9: Company Valuation Multiples
Table 10: Commodity Prices in $, Last Close
Table 11: Acquirer Information
Table 12: Vendor Information

1.2 List of Figures
Figure 1: Linn, Increase in 1P Reserves Due to the Acquisition of the Jonah and Pinedale Properties, Tcfe, 2012
Figure 2: BP, Decline in Jonah and Pinedale Oil and Gas Fields Production, Mbbls and MMcf, 2007-2011

Note: Product cover images may vary from those shown

RELATED PRODUCTS

Our Clients

Our clients' logos