DNR and XEC announce deal

[dan_s]

June 28

Denbury Resources enters into agreement to acquire operatorship and remaining working interest in the Riley Ridge Project (DNR) 23.16 : Co announces announced that it has entered into an agreement to acquire the 57.5% working interest it does not already own in the Riley Ridge Federal Unit located in southwestern Wyoming, and an ~33% working interest in an additional +/-28,000 acres of mineral leases adjoining the Riley Ridge Unit. The total purchase price is estimated at $191 mln assuming full payout of purchase price contingencies, plus capital incurred between April 1, 2011, the effective date of the purchase, and closing.

Cimarex has entered into an agreement to sell for $191 million its 57.5% operated working interest in the Riley Ridge Federal Unit and gas plant located in southwestern Wyoming (XEC) 84.83 : Co announces that it has entered into an agreement to sell for $191 million its 57.5% operated working interest in the Riley Ridge Federal Unit and gas plant located in southwestern Wyoming. The sale does not impact Cimarex's expected 2011 production estimates, as the plant was not expected to come online until late this year. Year-end 2010 proven undeveloped reserves included 210 billion cubic feet (Bcf) of gas from Riley Ridge.