Although most energy stocks are lower, Denbury Resources (DNR +4.3%) is up sharply after...
Tuesday, January 15, 12:52 PM ETAlthough most energy stocks are lower, Denbury Resources (DNR +4.3%) is up sharply after unveiling a $1B deal with ConocoPhillips (COP +0.5%) for 86K acres in Montana and North Dakota. The deal gives DNR additional liquidity to help it execute its share repurchase program, and allows for a deferment of more than $400M in taxes. For COP, the deal allows it to better focus on its Bakken assets.
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