LINN Energy: Quantum To Fund Selected Oil & Natural Gas Acquisitions

(RTTNews) - LINN Energy, LLC (LINE) and LinnCo, LLC (LNCO) announced that LINN has signed definitive agreements with private capital investor Quantum Energy Partners to fund selected future oil and natural gas acquisitions and the development of acquired assets. Quantum has agreed to initially commit up to $1 billion of equity capital to fund acquisitions and development of oil and natural gas assets.

LINN will have the ability to participate in all acquisition opportunities with a direct working interest ranging from 15 percent to 50 percent.

Mark Ellis, CEO of LINN Energy, said: "We anticipate a number of attractive assets may come to market in the current environment and we expect these agreements will position the company to take advantage of such opportunities."