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Linn Energy to Purchase Berry Petroleum to Boost Oil Reserves
Feb. 21, 2013 06:42PM PST
Resource InvestingReuters reported that Linn Energy LLC will purchase Berry Petroleum Co for $2.5B in stock, to boost its oil reserves and raise its output by about a third.
Reuters reported that Linn Energy LLC will purchase Berry Petroleum Co for $2.5B in stock, to boost its oil reserves and raise its output by about a third.
As quoted in the market news:
The acquisition, Linn’s largest, will raise the proportion of oil in the company’s reserves at a time when gas prices have fallen due to oversupply from North American shale fields.
Click here to read the full Reuters report.