Acquisition by Denbury Resources of Penn Virginia Corporation, an independent oil and gas company engaged in the development and production of oil, NGLs and natural gas, in a transaction valued at approximately $1.7bn, including the assumption of debt. Chris Kendall, Denbury’s President and CEO, commented, “This transaction marks a defining moment for Denbury, meeting multiple strategic objectives to create a balanced, resilient, and growing business with significant scale, while reinforcing our position as the highest oil-weighted producer in our peer group. Penn Virginia’s Eagle Ford assets will add many years of high value, low breakeven development to our portfolio, complementing Denbury’s long-lived, high-margin assets.