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LINN acquires BP's Hugoton Basin assets for US$1.2 billion

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Report summary

LINN Energy is to acquire BP's Hugoton Basin assets in southwest Kansas for US$1.2 billion. The upstream portfolio holds proved reserves of 730 bcfe, of which 81% are proved developed. Current production is 110 mmcfed - two thirds gas, one third liquids. The portfolio also includes 100% ownership of BP's Jayhawk plant - a 450 mmcfd cryogenic gas processing facility. At a 10% discount rate, deal economics do not look particularly compelling. We value the upstream assets and the ...

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    LINN acquires BP's Hugoton Basin assets for US$1.2 billion

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Table of contents

Tables and charts

This report includes 11 images and tables including:

Images

  • Wood Mackenzie upstream modelling assumptions
  • BP Hugoton assets
  • Implied long-term gas price sensitivity to discount rate and long-term Brent assumption
  • LINN acquisitions from 2009 - seller highlighted

Tables

  • Executive summary: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 1
  • Strategic rationale: Table 1

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