Permian Basin
LINN made a strategic entry into the Permian Basin in 2009 through acquisitions of properties in West Texas and Southeast New Mexico. Through a series of bolt-on acquisitions, we built the Permian region into one of our core areas with 88 MMBoe of proved reserves. Through year-end 2011, we closed 10 Permian acquisitions for a total of approximately $1.5 billion. We now have more than 100,000 net acres and operate more than 1,300 producing wells in the basin. We increased full-year 2011 production 135 percent over full-year 2010 production.
Wolfberry Play
LINN owns interest in more than 30,000 net acres in the Permian Wolfberry play, where we ran a six-rig drilling program in 2011 to drill 114 operated wells. In addition, we have identified approximately 400 future drilling locations. The majority of our Wolfberry wells include production from the Spraberry, Wolfcamp and Strawn intervals.
LINN is conducting a 20-acre infill pilot program in the Wolfberry that includes micro-seismic evaluation. The results of this pilot will serve as a tool to help guide future infill development plans and may double our inventory of Wolfberry drilling locations.
We also operate secondary-recovery waterfloods on our Permian acreage outside the Wolfberry.
For the most recent operational updates, review our presentations and news releases.
