Energy Company Exxon Mobil Announces Acquisition of Denbury
Portfolio Pulse from Benzinga Insights
Exxon Mobil (NYSE:XOM) has announced the acquisition of Denbury (NYSE:DEN) for $4.90 billion in stock, expected to be completed in Q4 of 2023. ExxonMobil is an integrated oil and gas company, while Denbury is an independent energy company focused on the Gulf Coast and Rocky Mountain regions.
July 13, 2023 | 3:10 pm
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Denbury's shareholders will receive $4.90 billion in Exxon Mobil stock as part of the acquisition deal.
Denbury's shareholders will receive $4.90 billion in Exxon Mobil stock as part of the acquisition deal. This could potentially increase the value of their holdings, depending on the performance of Exxon Mobil's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Exxon Mobil's acquisition of Denbury could potentially expand its operations in the Gulf Coast and Rocky Mountain regions.
The acquisition of Denbury by Exxon Mobil could potentially expand Exxon's operations in the Gulf Coast and Rocky Mountain regions, which could lead to increased revenues and profits in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100