Deal Insight
LINN Energy acquires Berry Petroleum in an all-share deal valued at US$4.3 billion
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Report summary
The deal is the first acquisition of a C-Corp by an Upstream MLP (or LLC), and is structured such that Berry's shareholders are not burdened by tax on the sale. This purchase is LINN's third multi-billion dollar investment in twelve months, and underscores the company's growing appetite for high margin, low decline, mature properties.Berry's portfolio of largely conventional oil assets across California, the Rocky Mountains, West Texas and along the Gulf Coast substantially ...
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
-
California
- Diatomite
- South Midway-Sunset
- McKittrick
- Uinta Basin - Rocky Mountains
- Permian Basin
-
California
- Deal analysis
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Per flowing barrel deal metrics for comparable transactions
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
What's included
This report contains:
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