LINN Energy announces update on $1B acquisition of Jonah Field

On June 25, Linn Energy, LLC (LINE) announced that it had signed a definitive purchase agreement to acquire properties in the Jonah Field, located in the Green River Basin of southwest Wyoming, from BP America Production Company (BP) for a contract price of $1.025B, subject to closing conditions and a preferential right of purchase that encompassed substantially all of the properties to be acquired by the Company. On July 5, the Company was notified that the holder had waived the exercise of the Preferential Right. Closing of the Acquisition remains subject to closing conditions and there can be no assurance that all of the conditions to closing will be satisfied.