Streetbeat News

DEN

Denbury Inc.

https://www.denbury.com/home/default.aspx

CEO

Christian Kendall

Employees

865

Industry

Crude Petroleum and Natural Gas Extraction

denbury resources inc., is an independent oil and natural gas company. our operations are focused in two key operating areas: the gulf coast and rocky mountain regions of the united states. currently our properties with proved and producing reserves in the gulf coast region are situated in mississippi, texas, louisiana, and alabama, and in the rocky mountain region are situated in montana, north dakota and wyoming. our goal is to increase the value of our properties through a combination of exploitation, drilling and proven engineering practices, with the most significant emphasis relating to carbon dioxide enhanced oil recovery (co2 eor). for more information about our company, please visit www.denbury.com.

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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.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 3:10 pm

Despite the bullish sentiment in the stock market, import data contradicts the belief of no recession. Industrial Select Sector SPDR Fund (XLI) has broken out, indicating a belief of no recession. However, data from China, a major exporter to the U.S., shows a 24% drop in exports to the U.S., the worst since March 2020. This suggests a slowing in U.S. consumer buying. Earnings season has started with mixed results from various companies. Exxon Mobil Corp (XOM) is buying Denbury Inc (DEN), but the offer price is disappointing.

Portfolio Pulse from The Arora Report

July 13, 2023 | 2:20 pm

Several companies have made significant announcements. Meta Platforms is preparing to launch a commercial version of its AI model, competing with Microsoft and Alphabet. Viasat shares dropped after an unexpected event during satellite deployment. The UK's CMA is investigating Adobe's $20B acquisition of Figma. PepsiCo reported better than expected Q2 earnings. Exxon Mobil is acquiring Denbury for $4.9B. Hyundai's Kia is investing $200M in a Georgia facility. Medtronic is facing a whistleblower lawsuit alleging a bribery scheme. The FDA is reviewing an energy drink founded by YouTube stars. Google is launching its AI chatbot, Bard, in Europe and Brazil. The NLRB filed a complaint against Amazon. Tesla plans to sell a $1,670 electric quad bike for children in China. JD.com is developing AI applications. Carlyle Group and Trustar Capital plan to exit part of their stakes in McDonald's China. Sony is ramping up R&D spending in its game business.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 2:10 pm

Exxon Mobil Corp (XOM) has announced a deal to acquire Denbury Inc (DEN) for $4.9 billion, which will boost its Low Carbon Solutions business. The acquisition will give XOM ownership of the largest CO2 pipeline network in the U.S. and DEN's Gulf Coast and Rocky Mountain oil and natural gas operations. The transaction is expected to close in Q4 2023.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 1:33 pm

ExxonMobil has entered a definitive agreement to acquire Denbury in an all-stock transaction valued at $4.9 billion, or $89.45 per share. Denbury shareholders will receive 0.84 shares of ExxonMobil for each Denbury share.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:04 pm

JP Morgan analyst John Royall initiates coverage on Denbury (NYSE:DEN) with a Neutral rating and announces a price target of $96.

Portfolio Pulse from richadhand@benzinga.com

June 15, 2023 | 9:11 am

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