Deal Insight
ExxonMobil acquires Denbury for US$4.9 billion
This report is currently unavailable
*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
-
Upstream assets
- Upstream
-
CO2 assets
- Pipelines
- Sequestration
- Deal analysis
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- ExxonMobil
- Denbury
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Deal analysis: Table 1
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
- Denbury's assets
- Upstream assets: Table 2
What's included
This report contains:
Other reports you may be interested in
Insight
Mind the gap: ExxonMobil’s proprietary proppant is a US Lower 48 differentiator
We believe petcoke could increase completion effectiveness and raise recovery by up to 15% when used across multiple wells on a pad.
$1,350
Asset Report
Julia (WR 627)
Julia (WR 627) is a Lower Tertiary oil discovery in the US Central Gulf. It was originally thought that the reservoir could extend ...
$3,720
Insight
Chevron completes Hess acquisition and closes gap to ExxonMobil
On 18 July 2025, it was announced that the International Chamber of Commerce (ICC) ruled in favour of Chevron and Hess in the dispute.
$1,350
