New York investment firm Kohlberg Kravis Roberts & Co. LP (NYSE: KKR) is paying $350 million for oil and gas properties from Linn Energy LLC.

The properties are located in Ector and Midland counties in the Permian Basin, in Texas.

KKR is making the deal through the KKR Natural Resources partnership with energy firm Fleur de Lis Energy, which is focused on North American oil and gas investments. KKR announced the partnership in March. This is the duo’s second investment, following a July acquisition of Selma Chalk properties from Penn Virginia Corp. (NYSE: PVA).

Since 2009, KKR has committed about $4.7 billion to energy-related investments. The firm picked up nine shipping vessels through a partnership it made with Borealis Maritime. The firm also invested in Preferred Sands Holding Co., as part of the [needs an adjective to differentiate it from KKR – otherwise it could be KKR that is restructuring] company's restructuring. 

Other recent oil and gas deals have included Western Refining Logistics' purchase of oil assets in September for $360 million, and Siemens AG's deal for Dresser-Rand Group Inc. for $7.6 billion, also in September. 

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