Denbury Resources

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Denbury Resources Inc.
Public company
Traded as NYSEDNR
S&P 600 component
Industry Petroleum industry
Headquarters Plano, Texas
Key people
Christian S. Kendall, President & CEO
Mark C. Allen, CFO
Products Petroleum
Natural gas
Production output
60 thousand barrels of oil equivalent (370,000 GJ) per day
Revenue Increase $1.129 billion (2017)
Increase $0.163 billion (2017)
Total assets Increase $4.471 billion (2017)
Total equity Increase $0.648 billion (2017)
Number of employees
879 (2017)
Website www.denbury.com
Footnotes / references
[1]

Denbury Resources is a petroleum and natural gas exploration and production company incorporated in Delaware and headquartered in Plano, Texas.

Current operations[edit]

The company extracts oil via enhanced oil recovery (tertiary recovery), which utilizes carbon dioxide to extract oil from fields that have been previously exploited. The company's operations are focused in the Gulf Coast and Rocky Mountain regions. As of December 31, 2017, Denbury had 259 million barrels of oil equivalent (1.58×109 GJ) of estimated proved reserves, of which 97% was petroleum and 3% was natural gas. The company also has an estimated 1.3 trillion cubic feet of probable carbon dioxide reserves at Jackson Dome. The company's largest producing property is the Cedar Creek Anticline in Montana and North Dakota, which accounted for 25% of daily production in 2017.[1]

History[edit]

In March 1951, the company was incorporated in Manitoba as "Kay Lake Mines Limited (N.P.L.)". In September 1984, the name of the company was changed to "Newscope Resources Limited". In December 1985, the name of the company was changed to "Denbury Resources Inc."[2]

In May 1997, the company became a public company via an initial public offering.[1]

In 1998, the company acquired properties from Chevron Corporation for $202 million.[3]

In August 1999, the company began its enhanced oil recovery operations with the acquisition of the Little Creek Field.[1]

In 2001, the company acquired Matrix Oil & Gas for $138 million in cash and stock.[4] The company also acquired the Jackson Dome carbon dioxide reserves and the NEJD Pipeline in Mississippi, providing a source of carbon dioxide and the related transportation infrastructure.[1]

In 2009, the company sold its assets in the Barnett Shale.[5]

In 2010, the company acquired Encore Acquisition Company in a $4.6 billion transaction.[6][7]

In 2012, the company acquired Thompson Field in Fort Bend County, Texas for $360 million.[8][9] The company also sold its acreage in the Bakken Formation to ExxonMobil for $1.6 billion.[10]

In 2013, the company acquired fields in the Cedar Creek Anticline from ConocoPhillips for $1.05 billion.[11]

In 2017, Christian S. Kendall was named chief executive officer of the company.[12] The company also acquired assets in the Salt Creek Field of Wyoming from Linn Energy for $71.5 million.[13]

References[edit]

External links[edit]