ConocoPhillips said it would sell its properties in the Cedar Creek Anticline in Montana and North Dakota to Denbury Resources Inc for $1.05 billion in cash to focus on its Bakken Shale properties in the same region. The assets being sold comprise 86,000 net acres in southwestern North Dakota and eastern Montana.
ConocoPhillips explores for, produces, transports and markets crude oil, natural gas, natural gas liquids, liquefied natural gas and bitumen on a worldwide basis. Shares of COP remained unchanged at $58.47. In the past year, the shares have traded as low as $50.62 and as high as $78.29. On average, 5946100 shares of COP exchange hands on a given day and today's volume is recorded at 0.
Denbury Resources Inc. is an independent oil and natural gas company. Shares of DNR remained unchanged at $16.88. In the past year, the shares have traded as low as $13.13 and as high as $21.37. On average, 5181440 shares of DNR exchange hands on a given day and today's volume is recorded at 0.
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