Denbury closes Gulf Coast acquisition

Denbury Resources Inc. has closed its acquisition of Thompson Field in Fort Bend County, Texas for an approximate USD$360 million cash consideration before purchase price adjustments. The purchase was funded with about USD$213 million of cash received from property sales earlier in 2012 as part of a like-kind exchange transaction. The remainder came from borrowings under its revolving credit facility.
Denbury is increasing its 2012 annual production estimates by 1,150 barrels of oil equivalent per day, with this acquisition. The estimated average production for the remainder of the year from the acquird properties is estimated at approximately 2,000 barrels per day.
Previous articleTransCanada to build pipeline for LNG Project
Next articleShell awards MRC Enterprise Framework Agreement
Heat Exchanger World is a leading international magazine covering all aspects of the product supply chain of heat exchangers. Heat Exchanger World is part of the KCI Group of Companies. We are a leading knowledge, communication and information company connecting business-to-business professionals by building and sustaining global communities, solving their information needs and helping them to develop their professional life and friendships.