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

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27 February 2012

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

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 ...

Table of contents

Tables and charts

This report includes 11 images and tables including:

  • 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
  • Wood Mackenzie upstream modelling assumptions
  • BP Hugoton assets
  • Upstream assets: Table 1
  • Implied long-term gas price sensitivity to discount rate and long-term Brent assumption
  • LINN acquisitions from 2009 - seller highlighted
  • Strategic rationale: Table 1

What's included

This report contains:

  • Document

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

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