Linn Energy (LINE) is active in various Granite Wash formations in Texas and Oklahoma. The Granite Wash refers to series of formations, including the Carr, Britt and Granite Wash zones A, B, C, D, E and F. Wells completed into these formations produce a mix of oil, natural gas liquids and natural gas.
Linn Energy has 168,000 gross, or 73,000 net acres prospective for the Granite Wash play located in several different project areas across Oklahoma and Texas. The company estimates that it has 100 drilling locations not including the Oklahoma acreage.
Linn Energy spent $75 million or 30% of its total capital budget in 2010 to develop its properties prospective for the Granite Wash. This capital was used to drill twelve operated wells and ten non operated wells into the Granite Wash during the year.
Linn Energy estimates that its production from the Granite Wash will reach 320 million cubic feet equivalent per day by the end of 2010.