M&A Deal Summary

Jonah Energy Acquires LINN Energy - Jonah & Pinedale Fields

On May 2, 2017, Jonah Energy acquired oil/gas exploration company LINN Energy - Jonah & Pinedale Fields from LINN Energy for 580M USD

Acquisition Highlights
  • This is Jonah Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Jonah Energy’s largest (disclosed) transaction.
  • This is Jonah Energy’s 1st transaction in the United States.

M&A Deal Summary
Date 2017-05-02
Target LINN Energy - Jonah & Pinedale Fields
Sector Oil/Gas Exploration
Buyer(s) Jonah Energy
Sellers(s) LINN Energy
Deal Type Divestiture
Deal Value 580M USD

Target

LINN Energy - Jonah & Pinedale Fields

United States
LINN Energy - Jonah & Pinedale Fields assets averaged over 150 million cubic feet equivalent per day (Mmcfe/day) of net production in 2016. Pro forma for the transaction, Jonah Energy will produce over 450 Mmcfe/day net from over 2,100 producing wells across over 145,000 net acres within Wyoming’s Jonah and Pinedale fields and adjacent Normally Pressured Lance (“NPL”) area.

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Buyer(S) 1

Buyer

Jonah Energy

Denver, Colorado, United States
Category Company
Founded 2014
Sector Oil/Gas Exploration
DESCRIPTION

Jonah Energy is one of the largest privately-held natural gas producers in the US and pursues a strategy of growth through the acquisition, development, and enhancement of high-quality producing assets. Jonah Energy was founded in 2014 and is based in Denver, Colorado.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

LINN Energy

Houston, Texas, United States
Category Company
Founded 2003
Sector Oil/Gas Exploration
Employees1,800
Revenue 1.8B USD (2015)
DESCRIPTION
LINN Energy's corporate headquarters in Houston, Texas.
LINN Energy's corporate headquarters in Houston, Texas.

LINN Energy acquires, develops and maximizes cash flow from a portfolio of oil and natural gas assets. LINN Energy is an independent oil and natural gas company with properties located in the United States. LINN's portfolio includes assets in the Hugoton Basin, the Rockies, California, east Texas and north Louisiana, the Mid-Continent, Michigan/Illinois, the Permian Basin, and south Texas. LINN Energy was formed in 2003 and is based in Houston, Texas. On May 11, 2016, LINN Energy filed for bankruptcy.

DEAL STATS #
Overall 3 of 4
Sector (Oil/Gas Exploration) 3 of 4
Type (Divestiture) 3 of 4
Country (United States) 3 of 4
Year (2017) 1 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-21 Berry Petroleum Company

Houston, Texas, United States

Berry Petroleum Company LLC is an independent oil and natural gas production and exploitation company with operations in California, Texas, Utah, and Colorado.

Buy $4.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-06 LINN Energy - Williston Basin

United States

LINN Energy LLC - Williston Basin assets consist of approximately 20,000 net acres in North Dakota, South Dakota and Montana with estimated third quarter net production of 8,750 barrels of oil equivalent per day.

Sell -
Mergr

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