WASHINGTON (dpa-AFX) - LINN Energy LLC (LINE) and LinnCo, LLC (LNCO) announced that LINN has signed a definitive agreement to sell its remaining position in Howard County in the Permian Basin for a contract price of $281 million. The companies said the properties sold under the deal include approximately 6,400 net acres prospective for horizontal Wolfcamp drilling and approximately 2.0 MBoe/d of current production from 133 gross wells.
The companies expect the transaction to close in the third quarter 2015.
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