(RTTNews) - Denbury Inc. (DEN) said that it has reached an agreement with a subsidiary of Devon Energy Corporation to acquire an about 100% working interest in the Big Sand Draw and Beaver Creek oil fields located in Freemont County, Wyoming for a cash purchase price of $12 million.
The purchase price includes associated surface facilities and the 46-mile CO2 transportation pipeline to the acquired fields.
Net production from the acquired fields was approximately 2,800 barrels of oil equivalent per day for the third quarter of 2020, of which approximately 85% was oil production.
The acquisition is expected to close in the first quarter of 2021.
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