Bloomberg reported that Denbury Resources Inc. (NYSE:DNR) has agreed to purchase acreage in Montana and North Dakota from ConocoPhillips for $1.05B as part of its expansion plans in the Rocky Mountain.
As quoted in the market news:
The 86,000 acres Denbury is acquiring yielded the equivalent of about 11,000 barrels of oil a day, offsetting 12,500 barrels of average daily production lost in the Exxon sale, according to slides posted today on the company’s website.
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