Denbury completes CCA deal

According to a March 28, 2013 news release from Denbury, the deal between Denbury and ConocoPhillips to acquire its production properties in the Cedar Creek Anticline has been completed.

Posted April 2, 2013

By Lisa Kilsdonk

According to a March 28, 2013 news release from Denbury, the deal between Denbury and ConocoPhillips to acquire its production properties in the Cedar Creek Anticline has been completed.

As earlier reported, ConocoPhillip’s sale of its assets in the CCA to Denbury was done with the intention of reinvesting the $1 billion in the Bakken field to the north.

As expected, the sale has had a significant impact on area residents. Some ConocoPhillips employees have retired, some have transferred, and some have accepted positions with Denbury. The transitions have resulted in some minor relief in the  Baker housing gridlock.

“As previously announced, Denbury estimates the acquired properties will contribute approximately 7,700 barrels of oil equivalent per day to its full-year 2013 average daily production … Approximately 99 percent of this production is estimated to be oil and natural gas liquids,” was reported from the Denbury news release.

      



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