Exxon boosts Permian Basin assets through swap deal with LINN

Wed May 21, 2014 5:30pm EDT

May 21 (Reuters) - Exxon Mobil Corp said it acquired additional properties in the Permian Basin of Texas in an asset swap deal with LINN Energy LLC.

Exxon will transfer its portion of the Hugoton gas field in Kansas and Oklahoma to LINN as part of the deal.

Exxon said its unit XTO Energy Inc will manage the newly acquired 26,000 acres.

The Hugoton Field portion produces about 85 million cubic feet of natural gas and natural gas liquids per day, LINN said in a separate statement.

The acquisition will increase Exxon's position in the Midland basin of Wolfcamp acreage to about 100,000 net acres, the company said. (Reporting By Kanika Sikka in Bangalore; Editing by Sriraj Kalluvila)