Texas oil explorer/producer Denbury to buy Encore

NEW YORK (Reuters) - Oil exploration and production company Denbury Resources Inc (DNR.N) said on Sunday it will acquire Encore Acquisition Co (EAC.N) in a transaction valued at about $4.5 billion.

The transaction, expected to close in the first quarter of next year, will create one of the largest carbon-dioxide enhanced oil recovery platforms across the Gulf Coast and Rocky Mountain regions, the companies said in a joint statement.

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