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Denbury Completes Second Phase of Bakken Sale and Asset Exchange

Denbury Resources Inc. ( DNR ) has closed the second and final phase of its previously announced Bakken sale and asset exchange with Exxon Mobil Corporation and its wholly-owned subsidiary XTO Energy Inc.

Denbury has now transferred all of its Bakken area assets to ExxonMobil for approximately $1.3 billion of cash, along with ExxonMobil's operating interests in Webster Field in Texas and Hartzog Draw Field in Wyoming and a portion of its CO2 reserves in Wyoming.

Based on the current capacity of the LaBarge plant and subject to availability, Denbury expects that it could receive up to approximately 115 million cubic feet per day of CO2 from the plant.

DNR closed in the red at $16.27 on Friday, trading near year low $13.13.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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