LINN holds more than 760,000 net acres in the Hugoton Basin that provide stable, long-life production. Combined, we have approximately 4,000 producing wells in the Kansas Hugoton field and the Texas Panhandle Brown Dolomite formation.
Kansas Hugoton Basin
In March 2012, LINN completed a $1.2 billion acquisition in the liquids-rich Kansas Hugoton field. This transaction added approximately 2,400 producing wells and proved reserves of 730 Bcfe with a low decline rate of 7 percent and a long reserve life of 18 years.
The acquisition provided a platform for future growth, with approximately 800 drilling locations on more than 600,000 contiguous net acres. It also offered 500 recompletion opportunities in the Chase formation, alone. In addition, we have processing capacity of 450 MMcf/d at the Jayhawk Gas Plant, which we own and operate.
Texas Panhandle Brown Dolomite Formation
LINN produces oil and natural gas from approximately 1,200 wells in the Texas Panhandle Brown Dolomite formation, where we have held acreage since 2007. Production from this reservoir has a high BTU content – resulting in a significant amount of NGL extraction that increases the rate-of-return in the area.