M&A Deal Summary

XTO Energy Acquires Linn Energy - Appalachian Properties

On July 1, 2008, XTO Energy acquired oil/gas exploration company Linn Energy - Appalachian Properties from LINN Energy for 600M USD

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

M&A Deal Summary
Date 2008-07-01
Target Linn Energy - Appalachian Properties
Sector Oil/Gas Exploration
Buyer(s) XTO Energy
Sellers(s) LINN Energy
Deal Type Divestiture
Deal Value 600M USD

Target

Linn Energy - Appalachian Properties

Texas, United States
Linn Energy LLC - Appalachian Properties includes oil and gas properties.

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Buyer(S) 1

Buyer

XTO Energy

Forth Worth, Texas, United States
Category Company
Founded 1986
Sector Oil/Gas Exploration
Employees3,335
DESCRIPTION

XTO Energy is a domestic oil and natural gas producer engaged in the acquisition, exploitation and development of quality, long-lived oil and natural gas properties in the United States. Its properties are concentrated in Texas, New Mexico, North Dakota, Pennsylvania, West Virginia, Arkansas, Oklahoma, Kansas, Wyoming, Colorado, Utah, Louisiana and Montana. XTO Energy was formed in 1986 and is headquartered in Fort Worth, Texas.

DEAL STATS #
Overall 1 of 3
Sector (Oil/Gas Exploration) 1 of 3
Type (Divestiture) 1 of 1
State (Texas) 1 of 3
Country (United States) 1 of 3
Year (2008) 1 of 3
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-02 Hassie Hunt Exploration

Dallas, Texas, United States

Hassie Hunt Exploration Co. is a privately held company engages in oil and gas exploration and production.

Buy -

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 1 of 4
Sector (Oil/Gas Exploration) 1 of 4
Type (Divestiture) 1 of 4
State (Texas) 1 of 1
Country (United States) 1 of 4
Year (2008) 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-31 Lamamco Drilling - Oil and Gas properties

United States

Buy $552M
FOLLOWING 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
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