Linn Energy Buying Berry Petroleum
By: Karl Rundgren
Updated: February 22, 2013
GARDENDALE -- Linn Energy has announced that they are purchasing Berry Petroleum for $4.3 billion.
The deal will give Linn Energy oil and natural gas assets in several areas -- including California, East Texas and the Permian Basin.
Berry Petroleum has been drilling in the Gardendale area, and that drilling has led to some controversy.
In fact, several Gardendale residents led a failed attempt to incorporate as a city in 2011.
Linn Energy's purchase of Berry Petroleum still has to be approved by the shareholders and pass federal scrutiny.
The deal will give Linn Energy oil and natural gas assets in several areas -- including California, East Texas and the Permian Basin.
Berry Petroleum has been drilling in the Gardendale area, and that drilling has led to some controversy.
In fact, several Gardendale residents led a failed attempt to incorporate as a city in 2011.
Linn Energy's purchase of Berry Petroleum still has to be approved by the shareholders and pass federal scrutiny.
