Denbury Closes Rocky Mountain Property Acquisition

By Staff,

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Denbury Resources Inc. ( DNR ) closed its acquisition of producing property interests in the Cedar Creek Anticline of Montana and North Dakota from a wholly-owned subsidiary of ConocoPhillips ( COP ) for $1.05 billion.

The acquired assets include additional interests in certain of Denbury's existing operated fields in Cedar Creek along with operating interests in other Cedar Creek fields. The company estimates the acquired properties will contribute approximately 7,700 barrels of oil equivalent per day to its full-year 2013 average daily production.

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This article appears in: Investing Commodities
Referenced Stocks: COP , DNR

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