Denbury to buy Cedar Creek anticline assets for $1.05 billion

01/21/2013
Denbury Resources Inc. agreed to acquire producing property interests in the Cedar Creek anticline of Montana and North Dakota from a wholly owned subsidiary of ConocoPhillips for $1.05 billion. The assets to be purchased include additional interests in Denbury's existing operated fields in Cedar Creek anticline along with operating interests in other fields within the structure. Cedar Creek anticline is 110 miles north of Denbury's Bell Creek field, which Denbury plans to start flooding with carbon dioxide by June 30 using the recently completed Greencore pipeline to deliver CO2 from central Wyoming. Denbury is designing a CO2 development plan for Cedar Creek that will include the proper...
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