Stratrix
On the Record · Denbury

Denbury acquisitions, on the record

The businesses Denbury bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

BusinessDealWhenValue
Big Sand Draw and Beaver Creek oil fields in Wyoming
Word for word“In December 2020, we entered into an agreement to acquire a nearly 100% working interest (approximately 83% net revenue interest) in the Big Sand Draw and Beaver Creek oil fields located in Wyoming for $12 million cash, including surface facilities and a 46-mile CO 2 transportation pipeline to the acquired fields.” 10-K for 2020
agreed acquisition—$12 million cash
Gulf Coast Working Interests Sale (half of nearly 100% working interests in Webster, Thompson, Manvel and East Hastings fields)
Word for word“Closed a farm-down transaction in March 2020 for the sale of half of our nearly 100% working interest positions in four conventional southeast Texas oil fields (consisting of Webster, Thompson, Manvel and East Hastings) for $40 million net cash and a carried interest in ten wells to be drilled by the purchaser (the “Gulf Coast Working Interests Sale”).” 10-K for 2020
agreed divestiture—$40 million net cash and a carried interest in ten wells
Surface land parcels with no active oil and natural gas operations, primarily around Houston, Texas
Word for word“Continued the monetization of valuable surface land with no active oil and natural gas operations, including the sale of multiple parcels primarily around Houston, Texas in transactions totaling $29 million in 2020.” 10-K for 2020
divestiture2020$29 million
NEJD pipeline system reacquired from Genesis
Word for word“reacquired the NEJD pipeline system from Genesis in exchange for $70 million to be paid in four equal payments during 2021, representing full settlement of all remaining obligations under the NEJD secured financing lease;” 10-K for 2020
acquisition—$70 million
Free State Pipeline reacquired from Genesis
Word for word“(2) reacquired the Free State Pipeline from Genesis in exchange for a one-time payment of $22.5 million on October 30, 2020.” 10-K for 2020
acquisitionOctober 30, 2020$22.5 million
Big Sand Draw and Beaver Creek oil fields (Wind River Basin), Wyoming
Word for word“Acquired a nearly 100% working interest in the Big Sand Draw and Beaver Creek oil fields (collectively “Wind River Basin”) located in Wyoming, including surface facilities and a 46-mile CO 2 pipeline.” 10-K for 2021
acquisition——
Non-producing surface acreage in the Houston area
Word for word“Sold non-producing surface acreage in the Houston area for $15.2 million and divested undeveloped deep mineral rights in Wyoming for $18 million.” 10-K for 2021
divestiture—$15.2 million
Undeveloped, unconventional deep mineral rights in Hartzog Draw Field, Wyoming
Word for word“On June 30, 2021, we closed the sale of undeveloped, unconventional deep mineral rights in Hartzog Draw Field in Wyoming.” 10-K for 2021
divestitureJune 30, 2021—
Big Sand Draw and Beaver Creek EOR fields in Wyoming, from a subsidiary of Devon Energy Corporation
Word for word“On March 3, 2021, we acquired a nearly 100 % working interest (approximately 83 % net revenue interest) in the Big Sand Draw and Beaver Creek EOR fields located in Wyoming from a subsidiary of Devon Energy Corporation, including surface facilities and a 46-mile CO 2 transportation pipeline to the acquired fields. The acquisition purchase price was $ 10.9 million (after final closing adjustments) plus two contingent $ 4 million cash payments if NYMEX WTI oil prices average at least $ 50 per Bbl during each of 2021 and 2022.” 10-K for 2022
acquisitionOn March 3, 2021$ 10.9 million
Hartzog Draw Deep Mineral Rights
Word for word“On June 30, 2021, we closed the sale of undeveloped, unconventional deep mineral rights in Hartzog Draw Field in Wyoming.” 10-K for 2022
divestitureOn June 30, 2021—
Half of working interest positions in four southeast Texas oil fields (Gulf Coast Working Interests Sale)
Word for word“On March 4, 2020, the Predecessor sold half of its working interest positions in four southeast Texas oil fields for $ 40 million net cash and a carried interest in ten wells to be drilled by the purchaser.” 10-K for 2022
divestitureOn March 4, 2020$ 40 million net cash

Deal filings since 2016

Read from Denbury’s annual reports (10-K for 2022, 10-K for 2021, 10-K for 2020) and the financial data it files with the SEC, as of 2023-02-23. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.