ExxonMobil to Acquire Bakken Assets from Denbury in Exchange for $1.6 Billion and Stakes in Webster New Report
ExxonMobil Corporation (Exxon), through its wholly-owned subsidiary XTO Energy Inc. (XTO), agreed to acquire Bakken shale assets in North Dakota and Montana from Denbury Onshore, LLC, a subsidiary of Denbury Resources Inc. (Denbury), for a purchase consideration of $1.6 billion in cash. In addition to the cash consideration, Denbury will receive Exxon’s interests in the Hartzog Draw field in Wyoming and Webster field in Texas. The transaction will have an effective date of July 1, 2012. According to the terms...
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