ExxonMobil Corporation has signed a definitive agreement to acquire carbon capture and storage (CCS) solutions firm Denbury for $4.9bn.
Once complete, the multi-billion-dollar transaction will accelerate ExxonMobil’s Low Carbon Solutions business and enhance its commitment to CCS, hydrogen, ammonia, biofuels, and direct air capture.
Based in Texas, Denbury owns and operates the largest carbon dioxide (CO2) pipeline network in the US, at 1,300 miles, including nearly 925 miles of pipeline in Louisiana, Texas, and Mississippi.
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