XTO Energy Inc. has entered into a definitive agreement to acquire producing properties, leasehold acreage, and infrastructure from Linn Energy LLC for $600 million. The purchase includes 152,000 net acres of Marcellus Shale leasehold in western Pennsylvania and West Virginia.

XTO Energy's internal engineers estimate proved reserves on the properties to be 145 billion cubic feet equivalent (bcfe), from the shallow Mississippian and Devonian reservoirs. Upon closing, the acquisition will add 25 million net cubic feet of natural gas equivalent (MMcfe) per day to the company's growing production base. The pipeline and gathering infrastructure included in the purchase is valued at about $50 million.

Bob R. Simpson, chairman and CEO of XTO stated, "The expansive leasehold is anchored in the right locations, where we anticipate prolific shale potential. The producing properties generate free cash flow which we will deploy in our shale development campaign. Also, the operational team already in place brings the experience, expertise and manpower to support XTO's long-term commitment to the basin."