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ExxonMobil to Acquire Bakken Assets from Denbury in Exchange for $1.6 Billion and Stakes in Webster and Hartzog Draw Fields to Expand its Unconventional Assets Base Product Image

ExxonMobil to Acquire Bakken Assets from Denbury in Exchange for $1.6 Billion and Stakes in Webster and Hartzog Draw Fields to Expand its Unconventional Assets Base

  • Published: September 2012
  • Region: Global
  • 8 pages
  • GlobalData

ExxonMobil to Acquire Bakken Assets from Denbury in Exchange for $1.6 Billion and Stakes in Webster and Hartzog Draw Fields to Expand its Unconventional Assets Base - Deal Analysis from GlobalData

Summary

ExxonMobil Corporation (Exxon), through its wholly-owned subsidiary XTO Energy Inc. (XTO), agreed to acquire Bakken shale assets in North Dakota and Montana from Denbury Onshore, LLC, a subsidiary of Denbury Resources Inc. (Denbury), for a purchase consideration of $1.6 billion in cash. In addition to the cash consideration, Denbury will receive Exxon’s interests in the Hartzog Draw field in Wyoming and Webster field in Texas. The transaction will have an effective date of July 1, 2012. According to the terms of the deal, Denbury will receive $1.6 billion in cash as well as operating interests in the Webster field (south east Texas) and Hartzog Draw field (north east Wyoming) from Exxon in exchange for the Bakken assets. Furthermore, Denbury has agreed to acquire incremental CO2 from the LaBarge field owned by Exxon or purchase an interest in the CO2 reserve of the field.

Scope

- Rationale behind Exxon acquiring Bakken shale assets in North Dakota READ MORE >

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1.1 List of Tables
1.2 List of Figures
2 ExxonMobil to Acquire Bakken Shale Assets from Denbury in Exchange for $1.6 Billion and Stakes in Webster and Hartzog Draw Fields
2.1 Deal Overview
2.2 Deal in Brief
2.3 Exxon Expands its Unconventional Assets Base in North America
2.4 Interest in Webster and Hartzog Draw fields will Enable Denbury to Increase its EOR Business and Fund its Capital Program
2.5 Deal Financials and Valuations
3 Appendix
3.1 Sources
3.2 Methodology
3.3 Contact Us
3.4 Disclaimer

1.1 List of Tables
Table 1: Oil and Gas Industry, Exxon, Major Acquisitions in North America, 2011 to Present
Table 2: Companies Involved
Table 3: Financials of the Deal
Table 4: Target Information
Table 5: Target’s Production and Reserves Information
Table 6: Company Valuation Multiples
Table 7: Commodity Prices in $, Last Close
Table 8: Acquirer Information
Table 9: Vendor Information

1.2 List of Figures
Figure 1: Oil and Natural Gas Industry, Exxon, Location of Acquired Bakken Assets in the Map, 2012
Figure 2: Oil and Natural Gas Industry, Denbury, Location of Acquired Assets, 2012

Note: Product cover images may vary from those shown

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