nearby acquisition - interesting read thru val

Denbury (NYSE:DNR) agrees to acquire from the Thompson Field in Fort Bend County, Texas from a private seller for $360m in cash and a production payment (detailed in the article). The Thompson field at 8,454 ac was owned and operated by Chevron and ExxonMobil from 1932 until Chevron sold in 1999 and ExxonMobil sold in 2003. The acquisition includes a nearly 100% working interest and 84.7% net revenue interest in the Thompson Field. The field is producing approximately 2200bopd and potential conventional reserves are estimated at approximately 17mmbbls.

Full article:

http://www.msnbc.msn.com/id/47244510