Michigan and Illinois
LINN holds 317 Bcfe of proved reserves in Michigan and Illinois.
LINN Energy entered the Michigan Basin in 2010 through an acquisition of natural gas properties in the Antrim Shale of northern Michigan, where we operate more than 1,700 wells and have identified approximately 300 proved low-risk drilling and optimization opportunities. With a decline rate of approximately 6 percent, this asset has a reserve life of approximately 24 years. Potential upside for LINN in the basin includes more than 26,000 net acres that are prospective for the emerging Utica-Collingwood Shale play.
We operate a mature waterflood asset in Illinois that is 100 percent oil and has a low decline rate of approximately 5 percent. We continue to optimize production in this area, where we have also identified potential future drilling opportunities.