DNR
Posted: Wed Apr 11, 2012 7:01 pm
Denbury Resources Inc.: Latest from The Business Journals Follow this company announced Wednesday that it has sold its stake in the in the Paradox Basin of Utah for $75 million to Resolute Energy Corp. and Navajo Nation Oil and Gas Co.
Plano-based Denbury (NYSE: DNR) said the assets amounted to about 6.4 million barrels of oil equivalent, including 98 percent oil and 58 percent proved developed producing.
“This sale completes our planned 2012 non-core asset divestitures,” President and CEO Phil Rykhoek said in a news release.
The $313.5 million worth of divestitures, before taxes and closing adjustments, also included the sale of Vanguard Natural Resources units in January for $83.5 million and the sale of Gulf Coast assets at the end of February for $155 million.
DNR is going to have very strong Q1 results. - Dan
Plano-based Denbury (NYSE: DNR) said the assets amounted to about 6.4 million barrels of oil equivalent, including 98 percent oil and 58 percent proved developed producing.
“This sale completes our planned 2012 non-core asset divestitures,” President and CEO Phil Rykhoek said in a news release.
The $313.5 million worth of divestitures, before taxes and closing adjustments, also included the sale of Vanguard Natural Resources units in January for $83.5 million and the sale of Gulf Coast assets at the end of February for $155 million.
DNR is going to have very strong Q1 results. - Dan