Mid-Continent – core operating areas in the Texas Panhandle and Oklahoma; and
Western – the Brea Olinda Field of the Los Angeles Basin in California.
From inception through January 2008, they completed 24 acquisitions of working or royalty interests in oil and gas properties and related gathering and pipeline assets. In total, they acquired proved reserves from working interests of approximately 1.9 Tcfe at an acquisition cost of approximately $2.11 per Mcfe.
They current total proved reserves of approximately 1.7 Tcfe, which are 50% gas, 35% oil and 15% NGLs, and have a long reserve life index of approximately 21 years. In addition, they have more than 7,200 producing oil and gas wells and over 4,100 drilling locations.
Linn is are focused on developing its reserve base, increasing acreage positions and evaluating potential opportunities to acquire additional oil and gas properties which complement their asset profile in mature producing basins across the United States.