ExxonMobil to Acquire Bakken Assets from Denbury in Exchange for _1.6 Billion and Stakes by Aarkstores

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									ExxonMobil to Acquire Bakken Assets from Denbury in
Exchange for $1.6 Billion and Stakes in Webster and
Hartzog Draw Fields to Expand its Unconventional
Assets Base - Deal Analysis from GlobalData

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ExxonMobil to Acquire Bakken Assets from Denbury in
Exchange for $1.6 Billion and Stakes in Webster and
Hartzog Draw Fields to Expand its Unconventional
Assets Base - Deal Analysis from GlobalData
Date:    30 September 2012

Pages:    8


Price:    US$ 500.00

ExxonMobil to Acquire Bakken Assets from Denbury in Exchange for $1.6 Billion and Stakes in Webster and
Hartzog Draw Fields to Expand its Unconventional Assets Base - Deal Analysis from GlobalData

Summary

ExxonMobil Corporation (Exxon), through its wholly-owned subsidiary XTO Energy Inc. (XTO), agreed to
acquire Bakken shale assets in North Dakota and Montana from Denbury Onshore, LLC, a subsidiary of
Denbury Resources Inc. (Denbury), for a purchase consideration of $1.6 billion in cash. In addition to the cash
consideration, Denbury will receive Exxon’s interests in the Hartzog Draw field in Wyoming and Webster field in
Texas. The transaction will have an effective date of July 1, 2012. According to the terms of the deal, Denbury
will receive $1.6 billion in cash as well as operating interests in the Webster field (south east Texas) and
Hartzog Draw field (north east Wyoming) from Exxon in exchange for the Bakken assets. Furthermore,
Denbury has agreed to acquire incremental CO2 from the LaBarge field owned by Exxon or purchase an
interest in the CO2 reserve of the field.

Scope

- Rationale behind Exxon acquiring Bakken shale assets in North Dakota and Montana.
- Rationale behind Exxon expanding its unconventional assets base in North America.
- Geography Covered- US

Reasons to buy

- Develop a sound understanding of Exxon expanding its unconventional assets base in North America. - To
know about Exxon's trend of inorganic growth.
- To understand Denbury's interest to increase its enhanced oil recovery business and fund its capital program.

Table of Contents :

1.1 List of Tables 1
1.2 List of Figures 1
2 ExxonMobil to Acquire Bakken Shale Assets from Denbury in Exchange for $1.6 Billion and Stakes in Webster
and Hartzog Draw Fields 1
2.1 Deal Overview 1
2.2 Deal in Brief 1
2.3 Exxon Expands its Unconventional Assets Base in North America 2
2.4 Interest in Webster and Hartzog Draw fields will Enable Denbury to Increase its EOR Business and Fund its
Capital Program 4
2.5 Deal Financials and Valuations 5
3 Appendix 7
3.1 Sources 7
3.2 Methodology 7
3.3 Contact Us 8
3.4 Disclaimer 8


1.1 List   of Tables
Table 1:   Oil and Gas Industry, Exxon, Major Acquisitions in North America, 2011 to Present 3
Table 2:   Companies Involved 5
Table 3:   Financials of the Deal 5
Table 4:   Target Information 5
Table 5:   Target’s Production and Reserves Information 6
Table 6:   Company Valuation Multiples 6
Table 7:   Commodity Prices in $, Last Close 6
Table 8:   Acquirer Information 6
Table 9:   Vendor Information 6


1.2 List of Figures
Figure 1: Oil and Natural Gas Industry, Exxon, Location of Acquired Bakken Assets in the Map, 2012 2
Figure 2: Oil and Natural Gas Industry, Denbury, Location of Acquired Assets, 2012 4


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