Denbury Resources to Acquire Working Interest in Riley Ridge Project - The Company is Striving to Expand its Footprints in the Rocky Mountain Region - Deal Analysis from GlobalData

Date: July 1, 2011
Pages: 6
Price:
US$ 500.00
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Publisher: GlobalData
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: D36257A33A8EN
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Denbury Resources to Acquire Working Interest in Riley Ridge Project - The Company is Striving to Expand its Footprints in the Rocky Mountain Region - Deal Analysis from GlobalData
Denbury Resources to Acquire Working Interest in Riley Ridge Project - The Company is Striving to Expand its Footprints in the Rocky Mountain Region - Deal Analysis from GlobalData

Summary

Denbury Resources Inc. (Denbury Resources) entered into an agreement to acquire 57.5% working interest in the Riley Ridge Federal Unit (Riley Ridge Unit) located in southwestern Wyoming, and an approximate 33% working interest in an additional 28,000 acres of mineral leases adjoining the Riley Ridge Unit, from Cimarex Energy Co. (Cimarex Energy) for a purchase consideration of $191m. Out of the total purchase consideration, the company will pay $176m at the close of the transaction and the remaining $15m will be paid as contingent payment at the time the gas processing facility becomes operational. The acquisition is expected to close in late July and is subject to satisfactory completion of a customary due diligence review.

Scope
  • Rationale behind Denbury Resources acquiring working interest in and around the Riley Ridge Unit from Cimarex Energy
  • Strategic Benefit for the companies involved,
  • Geography covered -The US

Reasons to buy
  • Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in North American industry,
  • Identify the most lucrative segments to leverage on the growth oppurtunities available in the US' oil & gas market,
  • Get a detailed analysis of a deal to enable you to take better decisions.
1 TABLE OF CONTENTS

1.1 List of Tables
1.2 List of Figures

2 DENBURY RESOURCES TO ACQUIRE WORKING INTEREST IN RILEY RIDGE PROJECT

2.1 Deal Overview
2.2 Deal in Brief
2.3 Post – Acquisition, Denbury Resources will Become the Operator of Both the Projects
2.4 Cimarex Energy Intends to Use the Proceeds Towards 2011 Capital Spending
2.5 Deal Financials and Valuations
  2.5.1 Companies Involved
  2.5.2 Deal Financials
  2.5.3 Detailed Target Information
  2.5.4 Detailed Acquirer Information
  2.5.5 Detailed Vendor Information

3 APPENDIX

3.1 Methodology
  3.1.1 Coverage
  3.1.2 Secondary Research
  3.1.3 Primary Research
  3.1.4 Expert Panel Validation
3.2 Contact Us
3.3 Disclaimer 6

LIST OF TABLES

Table 1: Companies Involved
Table 2: Financials of the Deal
Table 3: Target Information
Table 4: Acquirer Information
Table 5: Vendor Information 4

LIST OF FIGURES

Figure 1: Denbury Resources, Rocky Mountain Region – Potential Pipeline Infrastructure, Haynesville Salt and Fresh Water Pipelines, June 22, 2011 3

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