Denbury Resources Inc. today confirmed that a press release issued earlier today regarding a purported acquisition proposal for Denbury was fraudulent and not issued by the Company. The Company has received no such proposal and has reported the fraudulent activity to the New York Stock Exchange. ABOUT DENBURY RESOURCES Denbury is an independent oil and natural gas company with operations focused in two key operating [...]
Denbury Resources Inc. today announced its first quarter 2020 financial and operating results. FIRST QUARTER HIGHLIGHTS Net income of $74 million, or $0.14 per diluted share Adjusted net income of $27 million, or $0.06 per diluted share Adjusted EBITDAX of $116 million Generated $35 million of free cash flow Produced 55,965 barrels of oil equivalent per day , in line with expectations Reduced debt principal by $34 [...]
Denbury Resources Inc. today announced that it will issue its first quarter 2020 financial and operating results prior to the market opening on Monday, May 18, 2020. On the same day, the Company will host a conference call for investors at 8:00 A.M. to review first quarter 2020 financial and operating results. Individuals who would like to participate should dial the applicable dial-in number listed below ten minutes [...]
Denbury Resources Inc. today announced that due to the ongoing public health impact of the coronavirus pandemic and to support the health and well-being of our stockholders, the Board of Directors of the Company has decided that it will be hosting its 2020 Annual Meeting of Stockholders in a virtual only format. No stockholders or guests will be able to attend the Annual Meeting in person. The Annual Meeting will be held [...]
Denbury Resources Inc. today provided an update on the Company’s response to recent developments, including the COVID-19 pandemic, macroeconomic uncertainty, and the decline in oil prices. Chris Kendall, Denbury’s President and CEO, commented, “Our unique portfolio of high quality, low decline assets allows us to swiftly adjust to changes in market conditions, including changes as significant as those we have experienced [...]
Denbury Resources Inc. today announced that on March 5, 2020, it received formal notice from the New York Stock Exchange that the average closing price of the Company’s shares of common stock had fallen below $1.00 per share over a period of 30 consecutive trading days, which is the minimum average share price for continued listing on the NYSE. Denbury intends to notify the NYSE of its intent to cure the deficiency [...]
Denbury Resources Inc. today announced that it has closed the previously-announced farm-down transaction with a subsidiary of Navitas Petroleum for the sale of half of its nearly 100% working interest position in four southeast Texas oil fields for $50 million cash and a carried interest in ten wells to be drilled by Navitas. Estimated net cash to Denbury from the sale is approximately $40 million after adjusting for [...]
Denbury Resources Inc. today announced that Chris Kendall, President and Chief Executive Officer, is scheduled to present at the Credit Suisse 25th Annual Energy Summit on Monday, March 2, 2020, at 9:50 a.m. Mountain Time. Mr. Kendall and other members of senior management will also meet with institutional investors. An updated corporate presentation for the conference will be posted to the Company’s website the [...]
Denbury Resources Inc. today announced its fourth quarter and full-year 2019 financial and operating results, along with its 2020 capital budget and currently estimated 2020 production. 2019 FOURTH QUARTER AND FULL-YEAR HIGHLIGHTS Financial Delivered net income of $23 million for 4Q 2019 and $217 million for full-year 2019 ° Adjusted net income of $47 million for 4Q 2019 and $192 million for 2019 ° Adjusted [...]
Denbury Resources Inc. today announced that it will issue its fourth quarter and full-year 2019 financial and operating results prior to the market opening on Tuesday, February 25, 2020. On the same day, the Company will host a conference call for investors at 10:00 A.M. to review fourth quarter and full-year 2019 financial and operating results and to discuss the Company’s 2020 outlook. Individuals who would like [...]
Denbury Resources Inc. today announced that it has entered into a definitive agreement with a subsidiary of Navitas Petroleum to sell half of its nearly 100% working interest position in four southeast Texas oil fields , for $50 million cash and a carried interest in ten wells to be drilled by Navitas. The sale is expected to close by early March 2020 and is subject to customary closing conditions. The Company anticipates [...]
Denbury Resources Inc. today announced net income of $73 million, or $0.14 per diluted share, for the third quarter of 2019. Adjusted net income was $41 million, or $0.08 per diluted share, with the difference from GAAP net income primarily due to a $35 million gain from noncash fair value adjustments on the Company’s commodity derivative positions . Generated cash flow from operations of $131 million and free cash [...]
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