Roan Resources Inc. (ROAN)

[eFinanceMarkets]

Linn Energy to sell Wyoming assets for $581M

Linn Energy (OTCQB:LNGG +4.5%) agrees to sell oil and gas properties in western Wyoming for $581.5M to Colorado producer Jonah Energy, which it says will allow it to focus on more lucrative assets in Oklahoma’s SCOOP and STACK plays.

LNGG says proceeds from the sale will be used to reduce outstanding borrowings under its revolving credit facility and term loan.

Chairman Evan Lederman says the deal "marks the first step of transitioning Linn from a conventional production-based MLP to a streamlined growth-oriented enterprise.”