ExxonMobil to Buy Carbon Capture Company Denbury for $4.9 Billion
13 Julho 2023 - 9:45AM
Dow Jones News
By Ben Glickman
ExxonMobil said it had agreed to acquire Denbury, a
carbon-capture and storage company, for $4.9 billion.
The energy company said it would acquire Denbury in an all-stock
transaction for $89.45 a share. Shareholders of Denbury will
receive 0.84 shares of ExxonMobil per share of Denbury.
ExxonMobil said the deal gave the company the largest owned and
operated CO2 pipeline network in the U.S. and 10 onshore carbon
sequestration cites, part of a strategy to accelerate carbon
capture deployment for the company and its customers over the next
decade.
The company said it expects the transaction to close in the
fourth quarter of this year.
The transaction also includes Gulf Coast and Rocky Mountain oil
and natural gas operations, with reserves totaling over 200 million
barrels of oil equivalent. ExxonMobil said the facilities currently
produce 47,000 barrels per day and will provide immediate cash
flow.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
July 13, 2023 08:30 ET (12:30 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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