Linn Energy Inc. has reached a deal to sell its western Wyoming assets about two months after emerging from bankruptcy and beginning to explore asset sales.
Houston-based Linn (OTCQB: LNGG) is selling $581.5 million worth of assets to Denver-based Jonah Energy LLC, according to a release. The deal is expected to close in the second quarter of 2017.
The deal is aimed at reducing the company’s debt under its revolving credit facility and term loan.
“We are aggressively pursuing higher return opportunities…