In a move fueled by recent acquisitions, rapidly expanding oil and gas company Denbury Resources Inc. has leased 325,000 square feet of recently redeveloped office space at The Campus at Legacy in Plano to become its new corporate headquarters.
Denbury’s new headquarters at The Campus will initially serve about 500 employees, combining Denbury’s employees now located at 5100 and 5160 Tennyson Pkwy. in Plano, and Encore Acquisition Co. employees now located in Fort Worth. Denbury announced the acquisition of Encore in November and closed on the $4.5 billion deal March 9.
“With the Encore acquisition, we now have more than one billion barrels of potential recoverable oil in our inventory and are one of the largest oil-focused independent oil companies in the United States,” Denbury CEO Phil Rykhoek said in a written statement. “With that leadership position comes responsibility, both to our stakeholders and to our most valuable asset, our employees. The Campus at Legacy has the ‘first class’ amenities we want to offer to our growing employee population, provides space for our anticipated growth and properly reflects the commitment we have to our employees."
Denbury expects to move into the new space during the fourth quarter of 2010. The 325,000-square-foot lease is one of the largest office transactions so far this year in North Texas. (3/12/10) learn more.