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UPDATE: Denbury Resources Buys Property Interests in Cedar Creek Anticline from ConocoPhillips Subsidiary for $1.05 Bln - Shares Up 4%

By: MT Newswires
Posted: 1/15/2013 1:40:00 PM
Referenced Stocks: COP;DNR

Denbury Resources ( DNR ) shares are up 3.9% at $17.54 but off a day high $17.85 following the company's announcement that it has acquired 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 cash.

The assets being purchased include additional interests in certain of DNR's

existing operated fields in the Cedar Creek Anticline along with operating

interests in other fields in the area.

COP shares are up 0.6%.