Naperville, IL -- (SBWIRE) -- 04/23/2013 -- Reportstack, provider of premium market research reports announces the addition of Denbury Resources to Acquire Cedar Creek Anticline Assets from ConocoPhillips for US$1.05 Billion: Denbury Plans to Use CO2 Enhanced Oil Recovery to Extract Oil from the Mature Fields Deal Analysis from GlobalData market report to its offering
Denbury Resources to Acquire Cedar Creek Anticline Assets from ConocoPhillips for US$1.05 Billion: Denbury Plans to Use CO2 Enhanced Oil Recovery to Extract Oil from the Mature Fields Deal Analysis from GlobalData
Denbury Resources, Inc. (Denbury) has agreed to acquire an interest in producing properties in the Cedar Creek Anticline (CCA) of Montana and North Dakota from a wholly-owned subsidiary of ConocoPhillips for a cash consideration of US$1.05 billion. The company intends to fund the acquisition cost with cash proceeds of US$1.3 billion received from its Bakken asset sale and asset exchange with ExxonMobil, which was completed in December 2012. The transaction has an effective date of January 1, 2013.
- Rationale behind Denbury Resources acquiring Cedar Creek Anticline assets in Montana and North Dakota from ConocoPhillips for US$1.05 Billion.
- To understand the rational about how the current deal is in line with Denburys primary strategy of focusing on the extraction of oil from depleted, mature oil fields by using Carbon Dioxide (CO2) Enhanced Oil Recovery (EOR).
- Geography Covered- US.
Reasons to buy
- Develop a sound understanding about how through this divestment, ConocoPhillips plans to optimize its portfolio and focus on its unconventional Bakken assets in North Dakota and Montana.
- To know more about Denbury benefitting from economies of scale through acquisition of additional assets in CCA fields.
- To have an understanding about how the current deal is in line with Denburys plans to use CO2 Enhanced Oil Recovery to extract oil from the mature fields.
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