Linn Energy has exited out of its remaining acreage in the Permian Basin’s Wolfcamp play after signing a $281million deal.
The move comes after the company revealed earlier this year that it had agreed a $1billion strategic acquisition alliance agreement with Quantam Energy Partners.
Linn Energy also previously sold off other assets in the Texas Panhandle and Oklahoma last year to privately held institutional affiliates of EnerVest.
A spokesman said the sale included 6,400 net acres in Howard County, with 133 gross wells currently producing at the site.
The transaction is expected to be subject to the certain closing conditions and is expected to close in the third quarter of 2015.
