Williston Basin Stocks Could Be 'In Play' After Exxon Mobil's (XOM) Big Deal
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Denbury (DNR) to Sell Bakken Assets in $1.6B Deal with Exxon Mobil (XOM)
September 20, 2012 8:33 AM EDTDenbury Resources Inc. (NYSE: DNR) ("Denbury" or the "Company") announced that it has entered into an agreement to sell its Bakken assets in North Dakota and Montana to Exxon Mobil Corporation and its wholly owned subsidiary XTO Energy Inc. (NYSE: XOM). Denbury will receive $1.6 billion in cash, subject to closing adjustments, and ExxonMobil's operating interests in Webster Field in Texas and Hartzog Draw Field in Wyoming, both of which are ideal candidates for carbon dioxide ("CO2") flooding and close to Denbury's existing or planned CO2 pipelines. In... More
