ExxonMobil Announces Acquisition of Denbury
Vinson & Elkins advised Denbury Inc., an experienced developer of carbon capture, utilization and storage (CCS) solutions and enhanced oil recovery, in its entry into a definitive agreement to be acquired by Exxon Mobil Corporation.
The acquisition is an all-stock transaction valued at $4.9 billion, or $89.45 per share based on ExxonMobil’s closing price on July 12, 2023.
The Vinson & Elkins team was led by partners Steve Gill and Doug McWilliams and senior associate Alex Robertson, with assistance from associates Luke Strieber, Tushar Parashar, Chase Browndorf, Jack Peterson, and Griff Kimball. Also advising on the deal were partners David Peck and Lina Dimachkieh, counsel Peter Rogers and associate Keleigh Carver; partner David D’Alessandro, counsel Missy Spohn and associates Matt Green and Kenneth Strain; partners Kara Kuritz and Hill Wellford and associate Alex Rant; partner Rick Sofield; partner John Grand and counsel Elena Sauber; partner Danielle Patterson; partners Guy Gribov and Alex Cross and associate Avi Shchigel; partner Sean Becker and counsel Alex Bluebond; partner Matthew Dobbins and associate Kelly Rondinelli; partners Robert Kimball and Katherine Frank; and counsel Rajesh Patel and associate Warner Scott.
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