Deal insight

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 ...

What's included

This report contains

  • Document

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

    PDF 1.25 MB

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Strategic rationale
  • Oil & gas pricing and assumptions

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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