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LINE > SEC Filings for LINE > Form 8-K on 4-Apr-2013All Recent SEC Filings

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Form 8-K for LINN ENERGY, LLC


4-Apr-2013

Entry into a Material Definitive Agreement


Item 1.01. Entry into a Material Definitive Agreement.

Purchase and Sale Agreement

On April 3, 2013, Linn Energy, LLC (the "Company") entered into, through one of its wholly-owned subsidiaries, a definitive asset purchase and sale agreement together with the Company's partners, Panther Energy, LLC and Red Willow Mid-Continent, LLC (collectively "Sellers") to sell the Company's interests in certain oil and gas properties located in the Texas/Oklahoma panhandle to Midstates Petroleum Company, Inc. (the "Disposition"). The sale price to the Company for its portion of the interest in the assets is approximately $220 million, subject to closing adjustments. The Disposition is anticipated to close on or about June 1, 2013, subject to closing conditions. There can be no assurance that all of the conditions to closing the Disposition will be satisfied. The Company plans to use the proceeds of the Disposition initially to repay borrowings under its revolving credit facility.

The purchase and sale agreement for the Disposition will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the period ended March 31, 2013.


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