Denbury's Encore Takeover Creates CO2 Flood Champion

Texas-based Denbury Resources has agreed to acquire fellow US independent Encore Acquisition for a total of around US$4.5bn. The deal will create one of the largest tertiary extraction specialists in the US and demonstrates the market's confidence in the future of regional unconventional oil and gas production. Denbury agreed to pay US$3.2bn and assume around US$1.3bn of Encore's debt in a friendly takeover announced on November 1. The companies expect to complete the transaction in Q110.

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