May 21 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