Denbury

Merger and acquisition (M&A) activity in the Lower 48 upstream segment doubled year/year during the second quarter in terms of transacted value, with 20 deals totaling $24 billion, according to the latest tally by Enverus Intelligence Research (EIR). The figure was up from a comparatively sluggish $12 billion transacted during 2Q2022. Dealmaking in 2Q2023 was…

Denbury Inc. subsidiary Denbury Carbon Solutions LLC has inked a 20-year agreement with Lake Charles Methanol LLC (LCM) to provide carbon dioxide (CO2) transportation and storage for LCM’s $4 billion project to convert natural gas into hydrogen, and ultimately blue methanol.  Denbury said it intends to construct a new pipeline from the Lake Charles industrial…

Broader tax breaks in the recently enacted Inflation Reduction Act of 2022 (IRA) will entice more sectors of the U.S. economy to embrace carbon sequestration, according to Denbury Inc. The independent, a carbon dioxide (CO2) pipeline and enhanced oil recovery specialist, is positioning itself for anticipated market growth, management said during the recent second quarter…

Denbury Inc. has a preliminary agreement in hand to transport and store carbon dioxide (CO2) captured from a potential “clean” ammonia project in Geismar, LA. Nutrien Ltd.’s PCS Nitrogen Fertilizer LP is evaluating the ammonia facilities location to expand capacity by 1.2 million metric tons/year (mmty) using carbon capture utilization and storage (CCUS) to reduce…

Denbury Inc. and Mitsui & Co. Ltd. units said they are evaluating opportunities on the Gulf Coast to develop carbon-negative oil projects.  Sequestering emissions from oil using carbon capture, utilization and storage (CCUS) is the aim of the memorandum of understanding (MOU) between Plano, TX-based Denbury Onshore LLC and Mitsui E&P USA LLC, the U.S.…

Denbury Resources Inc. on Wednesday filed a prepackaged restructuring agreement ahead of a planned Chapter 11 filing, joining Rosehill Resources Inc. and Rosehill Operating Co. LLC, which on Monday sought protection. Denbury, a Lower 48 carbon dioxide (CO) enhanced oil recovery (EOR) production specialist focused on the Gulf Coast and Rocky Mountains, is, like Rosehill,…

Enhanced oil recovery (EOR) specialist Denbury Resources Inc. has agreed to sell half of its stakes in four Texas oilfields to Navitas Petroleum LP for $50 million.

Lower 48 explorer Denbury Resources Inc. has scuttled plans to take over Penn Virginia Corp., blaming “difficult market conditions” and opposition by some shareholders.

Denbury Resources Inc. has clinched a merger agreement with Eagle Ford Shale pure-play Penn Virginia Corp., a transaction valued at $1.7 billion plus debt that would build a substantial foothold in South Texas.