ExxonMobil to acquire Denbury for $4.9bn.

Transaction Tags

• hydrocarbon exploration
• oil and gas
• Friendly
• United States
• Integrated Oil and Gas
• Acquisition
• Public
• Domestic
• Majority
• Pending
• Single Bidder

Synopsis

ExxonMobil, an American multinational oil and gas corporation, agreed to acquire Denbury, a hydrocarbon exploration company, for $4.9bn. “Acquiring Denbury reflects our determination to profitably grow our Low Carbon Solutions business by serving a range of hard-to-decarbonize industries with a comprehensive carbon capture and sequestration offering. The breadth of Denbury’s network, when added to ExxonMobil’s decades of experience and capabilities in CCS, gives us the opportunity to play an even greater role in a thoughtful energy transition, as we continue to deliver on our commitment to provide the world with the vital energy and products it needs,” Darren Woods, ExxonMobil Chairman and CEO.

Sources