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ConocoPhillips, based in Houston, anticipates an approximately $120 million earnings benefit in its fourth quarter related to the Cedar Creek Anticline transaction. The sale comes less than a month after ConocoPhillips announced that it was selling its Nigerian business unit to Oando PLC for roughly $1.79 billion. The deal is expected to close in the first quarter. Shares of ConocoPhillips rose 22 cents to $58.69 in midday trading while Denbury Resources shares gained 56 cents, or 3.3 percent, to $17.44.
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