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Exxon spends $1.6B on North Dakota field

By The Associated Press
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Exxon Mobil Corp. will spend $1.6 billion to boost its holdings in the massive Bakken oil field in North Dakota and Montana by 50 percent.

Exxon said Thursday it will buy all of the Bakken shale assets held by Denbury Resources Inc. for $1.6 billion in cash. Denbury will also receive Exxon’s interest in two fields in Wyoming and Texas.

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