Denbury Resources is to acquire stakes in mineral leases in Wyoming, US, for a total value of $191m.
The company will acquire the 57.5% working interest it does not own in the Riley Ridge Federal Unit and a 33% working interest in the mineral leases adjoining the Riley Unit.
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According to Denbury’s estimates, the Riley Ridge Federal Unit contains proved reserves of 250 billion cubic feet of natural gas, 8.9Bcf of helium and 1.4 trillion cubic feet of carbon dioxide.
The firm expects to start the first production of natural gas and helium during the fourth quarter of this year.
