Denbury To Sell Bakken Stake For $1.6 Billion

Abstract

Denbury Resources Inc. (NYSE: DNR) announced that it has entered into an agreement to sell its Bakken assets in North Dakota and Montana to Exxon Mobil Corp. (NYSE: XOM) and its wholly-owned subsidiary XTO Energy Inc (NYSE: XTO). Denbury will receive $1.6 billion in cash, subject to closing adjustments, and ExxonMobil's operating interests in the Webster field in Texas and the Hartzog Draw field in Wyoming.