Deal Insight
ExxonMobil acquires Denbury for US$4.9 billion
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
ExxonMobil has announced an agreement to acquire Denbury Inc. in an all-stock transaction valued at US$4.9 billion. Denbury produces 47,000 boe/d from a combination of EOR and conventional assets in the Gulf Coast and Rocky Mountains regions. More importantly for ExxonMobil, Denbury is a leading CCUS player with over 1,300 miles of CO2 pipeline infrastructure across these two regions. This deal is all about accelerating ExxonMobil's CCUS growth strategy. Read for our analysis of this transaction, including our bottom-up valuations of both the oil & gas and CCUS segments of the business.
Table of contents
- Executive summary
- Transaction details
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Upstream assets
- Upstream
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CO2 assets
- Pipelines
- Sequestration
- Deal analysis
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Upsides and risks
- Upsides
- Risks
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Strategic rationale
- ExxonMobil
- Denbury
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Deal analysis: Table 1Oil & gas pricing and assumptions: Table 1
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Oil & gas pricing and assumptions: Table 2Upstream assets: Table 1Denbury's assetsUpstream assets: Table 2
What's included
This report contains:
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