LINN Energy & Quantum Energy Partners Form Acquisition Alliance - Quick Facts

(RTTNews) - LINN Energy, LLC (LINE) and LinnCo, LLC (LNCO) announced that LINN has signed a non-binding letter of intent with private capital investor Quantum Energy Partners to fund selected future oil and natural gas acquisitions and development on the acquired assets, QL Energy I, LLC or AcqCo.

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.

The Board of AcqCo will be comprised of five Directors, with Quantum and its representatives retaining three seats and LINN having two seats. The partnership will be focused on conventional and unconventional resource development opportunities across the United States.