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UPDATE 1-Linn Energy sees jump in 2012 production
December 19, 2011 / 3:06 PM / in 6 years

UPDATE 1-Linn Energy sees jump in 2012 production

* Sees 2012 production up 40 pct

* Sees capital expenditure doubling to $880 mln

Dec 19 (Reuters) - Linn Energy said it expects 2012 production to go up by 40 percent, as it adds fresh production from assets it acquired in the current year.

The U.S. explorer and producer also sees a two-fold rise in capital expenditure to $880 million for 2012.

In November, Linn bought assets in the gas-rich Granite Wash area of the Texas Panhandle for $600 million from Plains Exploration & Production.

Houston-based Linn expects net production of 520 million cubic feet equivalent per day (MMcfe/d).

Linn will begin its 2012 drilling program at 600 locations, the company said in a statement.

Shares of the company were trading slightly up at $37.60 Monday on Nasdaq.

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