Denbury Resources, Inc. (NYSE:DNR) and Encore Acquisition Company (NYSE:EAC) have scheduled a stockholder meeting on March 9, 2010. Both companies have entered a definitive agreement for the merger of Encore with and into Denbury Resources in exchange for cash and Company common stock. The Company stockholders will be able to vote on the merger, among other items during the stockholder meeting. More information will be posted on the company’s website, www.denbury.com, once the acquisition has been finalized.
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Encore Acqusiition Company acquires and develops oil and natural gas reserves from onshore fields in the United States. The company has acquire producing properties since 1998. The properties had proven reserves and leasehold acreage. Production has growth at these properties by drilling, exploring, reengineering, expanding existing waterflood projects, and the application of tertiary recovery techniques.
Denbury Resources Inc. is engaged in the acquisition, development, operation and exploration of oil and natural gas properties in the Gulf Coast region of the United States, primarily in Mississippi, Louisiana, Texas and Alabama. The Company is an independent oil and gas company engaged in acquisition, development and exploration activities in the United States Gulf Coast region. It is an oil and natural gas producer in Mississippi, which owns a carbon dioxide (CO 2 ) reserves east of the Mississippi River used for tertiary oil recovery, and holds a significant operating acreage in the Barnett Shale play near Fort Worth, Texas, onshore Louisiana, Alabama, and properties in Southeast Texas. In January 2010, the Company announced the sale of its remaining 40% working interest in Barnett Shale properties to Talon Oil & Gas LLC.
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