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Friday, October 3, 2014

Linn Energy to sell Granite Wash and Cleveland fields for $1.95 bln, (NASDAQ: LINE)

Oil and Gas producer Linn Energy LLC said it would sell all its oil and gas assets in the Granite Wash and Cleveland fields of Texas and Western Oklahoma, respectively, to affiliates of investment group EnerVest Ltd for $1.95 billion. Linn also said on Friday that it would sell oil and gas properties in the Wolfberry field in the Permian Basin to Fleur de Lis Energy LLC for $350 million.

Linn Energy, LLC (LINN Energy) is an independent oil and natural gas company. Shares of LINE fell by 1.69% or $-0.5/share to $29.08. In the past year, the shares have traded as low as $25.91 and as high as $34.08. On average, 1182310 shares of LINE exchange hands on a given day and today's volume is recorded at 3590385.