Berry Petroleum Being Sold to Linn Energy 2/21/13
February 21, 2013
Berry Petroleum is being bought by Linn Energy for about $2.6 billion.
The all-stock deal that was announced today will expand Linn's presence here in the Permian Basin.
Robert Heinemann, President and CEO of Berry Petroleum, has been quoted as saying the combination of the two companies will create one of the largest independent E&P companies in North America.
Linn will also assume about $1.7 billion in debt.