Silverpeak Acquires Uinta Basin Assets

NEW YORK–(BUSINESS WIRE)–Silverpeak, a New York based investment management firm, today announced
the acquisition of certain assets in the Uinta Basin from LINN Energy,
Inc. for an acquisition price of $132 million. The assets will be
managed by Altamont Energy, a recently formed affiliate of Silverpeak.

Located in Utah’s oil-rich Altamont Bluebell field, the assets are
comprised of approximately 36,000 net acres, including 27,000
undeveloped acres. The acreage includes 116 PDP wells, with significant
reserves, work-over and development opportunities.

“We are excited about the opportunity to acquire and further develop
these well-located assets,” said Harsh Rameshwar, a partner in
Silverpeak’s energy business. “We see significant growth through
operational and well maintenance improvements and an active development
program using proven production technologies and methodical subsurface
engineering.”

Dr. Jorge Manrique will lead Altamont Energy’s management team. Members
of the team have significant experience developing and operating
upstream assets and previously participated in the development of the
Uinta Basin. “The Uinta Basin is one of the largest hydrocarbon
producing areas with OOIP comparable to the Eagle Ford and Bakken,” said
Dr. Manrique. “We believe Altamont is well-positioned to capitalize on
the potential of the assets through a robust development program which
will be further supported by our expertise within the basin.”

About Silverpeak

Silverpeak is a multi-strategy investment platform with expertise in the
real estate, energy and credit sectors. Founded in 2010, Silverpeak has
over 90 employees with headquarters in New York and primary offices in
Atlanta and London. Since its inception, the firm has acquired more than
$14 billion of gross asset value (as of 30 September 2017, including all
equity and debt) with investment partners across industries, sectors and
locations. Committed to creating long-term value for its partners,
Silverpeak uncovers unique opportunities and supports them through its
experienced management teams. For more information, visit www.silverpeak.com.

Contacts

For Silverpeak
Colleen Floberg, +1.212.716.2064
Vice
President, Investor Relations