Monday, October 18, 2010

Denbury to Sell Haynesville Acreage

Denbury Resources announced last week that the company has entered into an agreement to sell its Haynesville Shale and East Texas acreage to an unnamed private E&P company for $217.5 million .  Denbury acquired land through its merger with Encore a year ago, but it has been on the block for a while since it is viewed as non-core to Denbury, which is more focused on transportation and storage of carbon dioxide, especially for use in stimulating aging oil fields.

Denbury has 19,543 acres in the Haynesville region, 16,402 net acres in Caddo, DeSoto and Bossier Parishes, Louisiana and 3,141 in Shelby Co., Texas, as shown below.

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