Talon to buy Barnett shale assets from Denbury

By OGJ editors
HOUSTON, May 14 -- Privately held Talon Oil & Gas Inc. agreed to buy 60% of Denbury Resources Inc.'s Barnett shale gas assets for $270 million.

Closing is expected in late June. Talon will operate the properties after a transition period following closing.

Production attributable to the 60% interest in the properties averaged 45.7 MMcfd of gas equivalent (77% gas) during 2008, representing 16% of Denbury's 2008 production and 18% of its total proved reserves as of Dec. 31, 2008.

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