Denbury states plans to purchase assets in Texas field for $430.7M

12/3/2009 | Reuters

Denbury Resources is set to spend about $430.7 million to acquire a 95% stake in the Conroe field in Houston from Wapiti Energy. The field holds about 20 million barrels of oil equivalent in proved conventional reserves, the company said. Denbury also plans to invest up to $1 billion to develop the prospect as a tertiary flood.

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