Page 13 - Dan Ammann News Today

With the acquisition, ExxonMobil plans to grow its low carbon emissions business.

The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.

The acquisition is an all-stock transaction valued at $4.9 billion.

ExxonMobil announced it will acquire Denbury, a carbon capture, utilization and storage solutions and enhanced oil recovery company, in a deal valued at $4.9 billion.

Exxon Mobil Corporation is acquiring Denbury Inc., a developer of carbon capture, utilization and storage (CCS) solutions and enhanced oil recovery, for USD4.9 billion.

Exxon Mobil's deal to acquire oil company Denbury shows the oil giant's interest in getting ready for a low-carbon world.

The acquisition includes Gulf Coast and Rocky Mountain oil and natural gas operations. These operations consist of proved reserves totaling over 200 MMboe, with 47,000 oil-equivalent bpd of current production.

ExxonMobil has agreed to buy Denbury Inc., a leading carbon capture and exploration company whose sequestration acreage in Louisiana has skyrocketed recently, in a $4.9 billion transaction that was announced

SPRING, Texas--(BUSINESS WIRE)--Jul 13, 2023--

Denbury’s key asset is 1,300 miles of pipelines dedicated to transporting CO2.