LINN Energy LLC and LinnCo LLC have signed a definitive purchase agreement to acquire assets in the Hugoton Basin from Pioneer Natural Resources Co. for a contract price of $340 million. The assets are currently producing approximately 40 MMcfe/d, approximately 60% of which is natural gas, with a shallow base decline of approximately 6%. Total proved reserves are estimated to be approximately 340 bcfe (approximately 95% PDP).
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