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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Denbury Inc | NYSE:DEN | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 88.66 | 0 | 01:00:00 |
From May 2023 to May 2024
By Ben Glickman
ExxonMobil said it had agreed to acquire Denbury, a carbon-capture and storage company, for $4.9 billion.
The energy company said it would acquire Denbury in an all-stock transaction for $89.45 a share. Shareholders of Denbury will receive 0.84 shares of ExxonMobil per share of Denbury.
ExxonMobil said the deal gave the company the largest owned and operated CO2 pipeline network in the U.S. and 10 onshore carbon sequestration cites, part of a strategy to accelerate carbon capture deployment for the company and its customers over the next decade.
The company said it expects the transaction to close in the fourth quarter of this year.
The transaction also includes Gulf Coast and Rocky Mountain oil and natural gas operations, with reserves totaling over 200 million barrels of oil equivalent. ExxonMobil said the facilities currently produce 47,000 barrels per day and will provide immediate cash flow.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
July 13, 2023 08:30 ET (12:30 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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