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Conroe field CO2 flood set as Tinsley responds

09/01/2008
Denbury Resources Inc., Dallas, plans to pay $600 million or more to acquire giant Conroe field north of Houston where it intends to begin injecting carbon dioxide within 5 years in a development project itself worth $750 million-1 billion.Recovery at Conroe from CO2 injection is estimated at 130 million boe, depending on the ultimate recovery factor, and the properties contain 18.2 million boe of proved conventional reserves. Conroe is producing 2,500 boe/d to the interest to be acquired from an undisclosed private seller, which will retain a 2.8% interest, and unspecified other interest.Meanwhile, the company booked 29.8 million bbl of proved oil reserves as of June 30 at giant Tinsley ...
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