[Editor's note: A version of this story that appears in the January 2019 edition of Oil and Gas Investor also previously ran on the site here.]

Denbury Resources Inc. and hedge fund Mangrove Partners Master Fund Ltd. agree that Penn Virginia Corp. is a compelling investment. But, according to Mangrove, it’s a compelling investment if not merged with Denbury.

“Denbury Resources and [Penn], as a combined entity, is not of interest to Mangrove Partners,” Nathaniel August, a Mangrove director, reported in a Nov. 14 SEC filing after meeting with the two E&Ps’ management on the matter.

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