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Denbury Resources buys Rockies oil field from Linn Energy for $71.5M

May 30, 2017 7:49 AM ETDenbury Inc. (DEN) StockBy: Carl Surran, SA News Editor18 Comments
  • Denbury Resources (DNR) agrees to acquire Linn Energy's (LNGG) 23% non-operated working interest in Salt Creek Field in Wyoming for $71.5M.
  • DNR says net production for the acquired interest is estimated at 2,100 bbl/day and is expected to increase over the next several years based on the planned field development.
  • Proved developed reserves are estimated at 9M barrels of oil, and DNR expects to recognize an additional 9M bbl of proved undeveloped reserves, resulting in estimated finding and development costs of less than $7bbl including both acquisition and future development costs.

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