Exxon Mobil Corp said it acquired additional properties in the Permian Basin of Texas in an asset swap deal with LINN Energy LLC. Exxon will transfer its portion of the Hugoton gas field in Kansas and Oklahoma to LINN as part of the deal.Exxon said its unit XTO Energy Inc will manage the newly acquired 26,000 acres.The Hugoton Field portion produces about 85 million cubic feet of natural gas and natural gas liquids per day, LINN said in a separate statement.The acquisition will increase Exxon's position in the Midland basin of Wolfcamp acreage to about 100,000 net acres, the company said. (Reporting By Kanika Sikka in Bangalore; Editing by Sriraj Kalluvila)
Linn Energy, LLC (LINN Energy) is an independent oil and natural gas company. Shares of LINE traded higher by 0.57% or $0.16/share to $28.29. In the past year, the shares have traded as low as $20.35 and as high as $35.59. On average, 1593300 shares of LINE exchange hands on a given day and today's volume is recorded at 1017289.
Exxon Mobil Corporation is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. Shares of XOM traded higher by 1.35% or $1.36/share to $102.03. In the past year, the shares have traded as low as $84.79 and as high as $103.45. On average, 11020300 shares of XOM exchange hands on a given day and today's volume is recorded at 7737725.
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