M&A Deal Summary

LINN Energy and LinnCo Acquire Berry Petroleum Company

On February 21, 2013, LINN Energy and LinnCo acquired oil/gas exploration company Berry Petroleum Company for 4.3B USD

Acquisition Highlights
  • This is LINN Energy’s 3rd and LinnCo’s 1st transaction in the Oil/Gas Exploration sector.
  • This is LINN Energy’s and LinnCo’s largest (disclosed) transaction.
  • This is LINN Energy’s 3rd and LinnCo’s 1st transaction in the United States.
  • This is LINN Energy’s 1st and LinnCo’s 1st transaction in Texas.

M&A Deal Summary
Date 2013-02-21
Target Berry Petroleum Company
Sector Oil/Gas Exploration
Buyer(s) LINN Energy
LinnCo
Deal Type Add-on Acquisition
Deal Value 4.3B USD
Advisor(s) Credit Suisse Investment Banking (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

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.

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Buyer(S) 2

Buyer

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 3
Sector (Oil/Gas Exploration) 3 of 3
Type (Add-on Acquisition) 2 of 2
State (Texas) 1 of 1
Country (United States) 3 of 3
Year (2013) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-15 Linn Energy - Verden Assets

Oklahoma, United States

Linn Energy LLC - Verden Assets is a provider of oil and gas exploration services.

Sell $185M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-02 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.

Sell $580M
Buyer

LinnCo

Houston, Texas, United States
Category Company
Founded 2012
Sector Oil/Gas Exploration
DESCRIPTION

LinnCo LLC is an independent oil and natural gas exploration company.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
Mergr

Product

Company

Legal