Denbury to sell Barnett Shale assets - Dallas Business Journal:

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Plano-based Denbury (NYSE: DNR) has agreed to sell the assetsafor $270 million to Dallas-based LLC. If all closing conditionsz and approvalsare granted, the sale will close in late Denbury says as part of the privately held Talon will acquire a portion of the company’sz natural gas swaps. Denbury will use proceeds from the sale to pay off outstandinvgbank debt. “This sale further enables us to concentrate our investment and management focus on our tertiary operationds where we have lower virtually no competition in our areas of operatiohn andhigher profitability,” said Gareth Roberts, presiden and CEO.
“We plan to use thesw funds to increase our2010 tertiary-relateed spending beyond what we could accomplisnh using only cash flow. We believe we can make a good rate of returmn in our tertiary program at current oil prices and we are more optimistic about near-term oil price than natural gas prices, promptinh us to direct our focus on our core tertiart oil assets.”