Giant E&P company Exxon Mobil (NYSE:XOM) has agreed to acquire the developer of carbon capture, utilization and storage (CCUS) solutions, Denbury Inc. (NYSE:DEN) in an all-stock transaction valued at $4.9B, or $89.45/share, good for a mere 1.9% premium to Wednesday's closing stock price. Denbury recycles CO2 through its Enhanced Oil Recovery (EOR) operations, and uses it to produce environmentally-friendly, carbon-negative Blue Oil.
The company owns the largest CO2 pipeline network in the U.S. at 1,300 miles, including nearly 925 miles of CO2…Nationalizing UK Water Companies Will Only Result In Higher Bills
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