ExxonMobil acquiring oil producer with large CCUS business

Jack Burke Senior Editor, Compressor Tech2

July 13, 2023

Company owns larges CO2 pipeline in U.S.

ExxonMobil said it would acquire Denbury, a developer of carbon capture, utilization and storage (CCS) solutions and enhanced oil recovery.

The acquisition is an all-stock transaction valued at US$4.9 billion. Under the terms of the agreement, Denbury shareholders will receive 0.84 shares of ExxonMobil for each Denbury share.

“Acquiring Denbury…

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