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Read the original here here: Denbury to Buy Encore for $4.5 Billion to Add Oil, Gas Production in U.S.

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Denbury to Acquire Oil and Gas Producer Encore in $4.5 Billion Transaction

November 1, 2009

By Lester Pimentel and Mark Shenk Nov. 1 (Bloomberg) — Denbury Resources Inc ., a Plano, Texas-based oil and natural-gas producer, said it will purchase Encore Acquisition Co . for about $4.5 billion, including the assumption of debt. Encore stockholders will receive $50 per share for each share of Encore common stock, comprised of $15 in cash and $35 in Denbury common stock, the company said in a press release distributed via Business Wire. Denbury said it would postpone its third-quarter earnings release and conference call because of the acquisition. They are scheduled to occur on Nov. 5, not Nov. 3 as originally planned, according to a separate press release distributed via Business Wire. Trading in bullish options on Encore jumped to a 17-month high last week, before Denbury announced that it would purchase the company. Call trading rose to 3,338 contracts on Oct. 27, the most since May 2008. After U.S. markets closed that day, Encore reported less profit than analysts estimated on average, and the shares plunged 7.1 percent the next Denbury is the biggest oil and natural gas operator in Mississippi and has Barnett shale natural-gas assets in Texas, according to the company’s website. Encore has operates oil and natural gas projects in the Rockies, Mid-Continent and Permian basins. The combined company will be known as Denbury Resources Inc. With assistance from Nick Baker in New York. Editor: Jackie Cohen

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Video: Phillies Down Rockies 5-4

October 13, 2009

Philadelphia Phillies beats Rockies 5-4. (Bloomberg News)

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Video: MLB Playoffs

October 9, 2009

Angels defeats Red Sox with 5 – 0; Rockies wins over Phillies, series tied 1 – 1. (Bloomberg News)

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Rockies Win 5-4 at Phillies to Tie National League Playoff Series at 1-1

October 8, 2009

By Erik Matuszewski Oct. 8 (Bloomberg) — Yorvit Torrealba hit his first home run in more than five months as the Colorado Rockies defeated the Philadelphia Phillies 5-4 to tie their first-round playoff series at one game each. Torrealba hit a two-run homer off Phillies starting pitcher Cole Hamels in the fourth inning as the Rockies opened a 4-0 lead and then held off the defending World Series champions at Citizens Bank Park in Philadelphia. The best-of-five National League division series now moves to Coors Field in Denver for two games, with Game 3 scheduled for Oct. 10. The weather forecast calls for near-freezing temperatures in Colorado and possible snow showers. Two other Major League Baseball playoff games are scheduled for today, as the Los Angeles Dodgers host the St. Louis Cardinals in Game 2 of their NL series after winning last night, and the Boston Red Sox visit the Los Angeles Angels in the opener of their American League series. Hamels took the loss today for the Phillies, allowing four runs on seven hits over five innings. Hamels, who was 4-0 during the team’s World Series run last postseason, has a 0-7 record in 10 day starts this season, with a 5.60 earned run average. Hamels had complained before Game 1, saying the early start times for both the first two games were unfair and that most players would rather play at times they’ve grown comfortable with over the season. Early Score The Rockies pushed across a run in the first inning, as Carlos Gonzalez singled, stole second, moved to third on a sacrifice and scored on a groundout. With two outs in the fourth inning, Torrealba pushed Colorado’s lead to 3-0 by hitting his third homer of the season and first since May 6. Dexter Fowler’s sacrifice fly made it 4-0 for the Rockies the next inning. It was the last inning for Hamels, who later left the stadium after his wife, Heidi, went into labor with the couple’s first child. The Phillies came within 4-3 in the sixth inning, as Ryan Howard had a run-scoring double to chase Rockies starter Aaron Cook from the game and Raul Ibanez added a two-run double against reliever Jose Contreras . Cook had scattered three hits over five shutout innings before giving up three straight hits to start the sixth. Fowler hit another sacrifice fly in the top of the seventh inning as the Rockies pushed their lead to 5-3. The Phillies again got within a run on Jayson Werth’s solo homer in the eighth inning and put two runners on base in the ninth before Rockies closer Huston Street retired Shane Victorino on a line drive to seal the win and even the series. To contact the reporter on this story: Erik Matuszewski in New York at matuszewski@bloomberg.net

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Phillies Beat Rockies 5-1 in Opening Game of National League Postseason

October 7, 2009

By Michael Buteau Oct. 7 (Bloomberg) — Cliff Lee pitched a complete game as the Philadelphia Phillies defeated the Colorado Rockies 5-1 in the opener of their first-round National League playoff series. The game was the first of three Major League Baseball playoff contests scheduled for today. Lee allowed just six hits and struck out five batters as he recorded the 14th complete game of his career. It was Lee’s fourth complete game since joining the Phillies, the defending World Series champions, in a trade with the Cleveland Indians in July. The Rockies broke up Lee’s chance for a shutout in the top of the ninth inning when Troy Tulowitzki doubled to right-center field, scoring Carlos Gonzalez . Ubaldo Jimenez took the loss for the Rockies, allowing five earned runs off nine hits over five innings. Game 2 of the best-of-five-game series is scheduled for tomorrow afternoon in Philadelphia. The winner will face either the St. Louis Cardinals or Los Angeles Dodgers, who begin their first-round series tonight in Los Angeles. In today’s other game, the New York Yankees will host the Minnesota Twins at Yankee Stadium. The Rockies and Phillies were scoreless through the first four innings at Citizens Bank Park in Philadelphia, as Jimenez and Lee combined to strike out seven batters. The Phillies took the lead in the fifth when Raul Ibanez hit a hard ground ball past first baseman Todd Helton , scoring Jayson Werth from first. Philadelphia went ahead 2-0 when Carlos Ruiz hit a 3-2 breaking ball to right field, scoring Ibanez. Three Runs The Phillies stretched their lead to 5-0 with a three-run sixth inning. The Twins advanced to the playoffs last night with a 6-5, 12-inning win over the Detroit Tigers in a tiebreaking game at the Metrodome in Minneapolis for the American League Central Division title. Minnesota won 17 of its final 21 games to slip past Detroit, which became the first team in major-league history to lose a division title after holding a three-game lead with four to play. To contact the reporter on this story: Michael Buteau in Atlanta at mbuteau@bloomberg.net

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