Back To Denbury And That News Earlier Today -- October 29, 2018 -- It Appears DNR Just Swapped 196,000 Acres In The Bakken For 84,000 Acres In Eagle Ford?

Over at "Bakken operators," recent entries regarding Denbury, prior to today's announcement:

• July 20, 2016: Denbury sells the remaining non-core Bakken assets for $58 million; buyer not identified; amount of acreage not identified;
• October 2, 2013: corporate update; their production in North Dakota is their biggest 
• September 20, 2012: XOM to buy all DNR acreage in the Williston Basin Bakken (North Dakota and Montana); $1.6 billion deal; 196,000 Bakken acres; but DNR gets XOM acreage in Wyoming and Texas; see XOM below;
• August, 2012, corporate presentation (dynamic link)
• ~ 200,000 acres (August, 2012, corporate presentation); according to "anonymous," DNR has 66,000 acres in Ward County, too far east for the Bakken; whether they still have the acres or not is unknown; but off the books, and the rig there will not be kept (will let contract expire)
• Back to 266,000 net acres (Enercom Conference, August 16, 2011); note -- previously planned to add 7th rig by January, 2012; now by end of 2011 (not much difference, but moved up) -- nope, now down to 4 rigs  (1Q12 conference call); back to six (6) rigs through 2012; see below, 4Q11 -- 4 rigs ("wrote off" 66,000 acres in the Almond prospect)
• 266,000 net acres (April, 2011; IPAA conference presentation)
• 275,000 net acres in the Bakken (January, 2011; agrees with corporate presentation)
• Cherry Prospect: Siverston field, 
• Fields, SW of the river: Camp, Cherry, Lone Butte, Bear Creek, Charlson, and Murphy Creek
• Field: NE Foothills in Burke (+/- value)
• Field: Almond in Ward County (76,000 acres; almost no proven value yet) Update: 4Q11 -- removed from inventory; no value; removed the one rig that was there
• Analyst's number: 300,000 net acres (December 31, 2010)

Note: DNR had around 275,000 net acres in the Bakken at one time; in 2012, it was announced that XOM would buy all DNR acreage in the Bakken (operator would be XTO).

So, DNR very likely sold 275,000 net acres of Bakken for around $5,000/acre (a "WAG" as they say), or $1.4 billion and now a few years later spend about that much money to buy 84,000 net acres in the Eagle Ford. [My bad: I see now that the deal was spelled out  -- XOM would buy 196,000 Bakken acres from DNR fro $1.6 billion.]

Today's news: buys Penn Virginia assets in Eagle Ford for $1.7 billion; 84,060 net acres.