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ExxonMobil is considering a takeover offer for Denbury, a Plano, Texas-based oil and gas company with nearly a $5 billion market cap, per Bloomberg.

Why it matters: Denbury owns the country's largest carbon dioxide pipeline network, and thus could be a crown jewel for ExxonMobil's grand carbon capture plans. 

More from Bloomberg: "If the takeover happens, it would also be the biggest carbon-management investment since the Inflation Reduction Act passed in August, providing large tax incentives for burying carbon dioxide."

Denbury could become ExxonMobil's carbon capture key

Denbury's market value has surged to nearly $5 billion.

Illustration of a mason jar with carbon dioxide molecules captured inside.

ExxonMobil

ExxonMobil is considering a takeover offer for Denbury, a Plano, Texas-based oil and gas company with nearly a $5 billion market cap, per <a class="gtmContentClick" data-vars-link-text="Bloomberg" data-vars-click-url="https://www.bloomberg.com/news/articles/2022-10-10/exxon-is-said-to-weigh-takeover-of-denbury" data-vars-content-id="f63c86b1-b62d-42ed-8509-6b68983a0699" data-vars-headline="Denbury could become ExxonMobil&#x27;s carbon capture key" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.bloomberg.com/news/articles/2022-10-10/exxon-is-said-to-weigh-takeover-of-denbury" target="_blank">Bloomberg</a>.Why it matters: Denbury owns the country&#x27;s largest carbon dioxide pipeline network, and thus could be a crown jewel for ExxonMobil&#x27;s grand <a class="gtmContentClick" data-vars-link-text="carbon capture plans" data-vars-click-url="https://www.axios.com/2021/03/04/exxon-carbon-emissions-capture-market" data-vars-content-id="f63c86b1-b62d-42ed-8509-6b68983a0699" data-vars-headline="Denbury could become ExxonMobil&#x27;s carbon capture key" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2021/03/04/exxon-carbon-emissions-capture-market" target="_self">carbon capture plans</a>.

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Denbury could become ExxonMobil's carbon capture key

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