Denbury Adding Eagle Ford In $1.7-Billion Penn Virginia Merger

摘要

DENBURY RESOURCES INC.said Oct.28 it will acquire Eagle Ford operator Penn Virginia Corp.in a cash-and-stock transaction valued at about $1.7 billion,including debt assumption.The acquisition of Houston-based Penn is expected to give Denbury a new core area in the oil window of the Eagle Ford.The Piano,Texas-based E&P,which focuses on CO2 EOR,currently operates in two key areas: the Gulf Coast and Rockies.