From yesterday's daily activity report:
Six pages of operator transfer; averaging about 40 wells/page,
that would be about 250 wells being transferred from BR to Denbury. With
the exception of three wells, they all have file numbers from 13XXX to
16XXX. It looks like there were seven (7) salt water disposal wells.
Denbury is known for EOR.
Looking at four random wells: Red River wells,
Cedar Hills oil field, Bowman County (all wells were, in fact, in
Bowman County).
This transfer of wells relates back to
the COP-DNR deal announced some time ago, posted January 15, 2013. From that post:
Denbury buying COP field in the Williston Basin for $1.05 billion. The Wall Street Journal story here.
ConocoPhillips
said Tuesday it agreed to sell its energy properties in the Cedar Creek
Anticline of North Dakota and Montana to Denbury Resources Inc.
for $1.05 billion. The deal includes about 86,000 net acres with 2012
net production of 13,000 barrels of oil equivalent per day through
November. The sale does not include assets in the Bakken region.
This is a Red River formation field, an old field, perfect for CO2 EOR, one would assume.
Denbury said it'll fund the purchase out of the $1.3 billion of cash
received from its Bakken sale and asset exchange with Exxon Mobil Corp. completed in December.
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