Denbury Completes Acquisition of Matrix Oil & Gas

Denbury Resources Inc. announced the completion of its acquisition of privately held Matrix Oil & Gas, Inc., in accordance with the agreement and plan of merger dated June 4, 2001.

The adjusted purchase price was approximately $158 million. The Matrix acquisition, accounted for as a purchase, increases Denbury's reserves by approximately 12% and production by approximately 22% based on the second half of 2001's forecasted production. The Company anticipates the transaction as being immediately accretive to reserves, production and cash flow on a per share basis.


Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $48.06/BBL 2.51%
Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
Updated in last 24 hours