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FOOTHILLS EXPLORATION, INC ANNOUNCES CORPORATE UPDATE AND COMPLETION OF REQUIRED DOCUMENTATION
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Denbury Inc. (DEN) Q1 2021 Earnings Call Transcript Motley Fool Transcribing © The Motley Fool Logo of jester cap with thought bubble.
Denbury Inc. (NYSE: DEN)
Operator
Good day, ladies and gentlemen and welcome to Denbury s first-quarter 2021 results conference call. My name is Shumali, and I will be your operator for today s call. [Operator instructions] I would now like to turn the conference call over to your host for today s call, Brad Whitmarsh, head of investor relations. Please proceed, sir.
Brad Whitmarsh
Head of Investor Relations
Good morning, everyone and thank you for joining us today. I hope you ve had a chance to review our earnings release and presentation materials that we released this morning. They are available on our website at denbury.com and we may reference certain slides as we make our prepared remarks. This morning, we will hear from Chris Kendall, president and chief executive officer; Mark Allen, executive vice president a
Tue, 12/29/2020 - 11:00 AM
The purchase of the Big Sand Draw and Beaver Creek oil fields from Devon, expected to close first-quarter 2021, includes associated surface facilities and the 46-mile CO₂ transportation pipeline.
(Source: Stephen Collector/Hart Energy)
Denbury Inc. entered an agreement on Dec. 29 to acquire a pair of CO₂ EOR fields in Wyoming from a subsidiary of Devon Energy Corp., boosting the Plano, Texas-based company’s low-carbon footprint in the Rocky Mountain region.
As part of the agreement, Denbury will pay the Devon subsidiary up to $20 million in cash for a nearly 100% working interest (approximately 83% net revenue interest) in the Big Sand Draw and Beaver Creek oil fields located in Wyoming’s Freemont County. Net production from the acquired fields was about 2,800 boe/d for third-quarter 2020, of which roughly 85% was oil production.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Denbury to Acquire Wyoming CO2 Enhanced Oil Recovery (EOR) Fields
Denbury Inc.December 29, 2020 GMT
PLANO, Texas, Dec. 29, 2020 (GLOBE NEWSWIRE) Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) today announced that it has entered into an agreement with a subsidiary of Devon Energy Corporation to acquire a nearly 100% working interest (approximately 83% net revenue interest) in the Big Sand Draw and Beaver Creek oil fields located in Freemont County, Wyoming for a cash purchase price of $12 million. The purchase price includes associated surface facilities and the 46-mile CO2 transportation pipeline to the acquired fields.
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