S&P 600 component
Christian S. Kendall, President & CEO|
Mark C. Allen, CFO
|60 thousand barrels of oil equivalent (370,000 GJ) per day|
|Revenue||$1.129 billion (2017)|
|$0.163 billion (2017)|
|Total assets||$4.471 billion (2017)|
|Total equity||$0.648 billion (2017)|
Number of employees
Footnotes / references|
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.
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."
In August 1999, the company began its enhanced oil recovery operations with the acquisition of the Little Creek Field.
In 2001, the company acquired Matrix Oil & Gas for $138 million in cash and stock. 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.
- "Denbury Resources Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- "Denbury Resources Inc. 1998 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- "DENBURY IN $202.2 MILLION DEAL FOR CHEVRON PROPERTIES". The New York Times. Dow Jones & Company. November 26, 1997.
- "DENBURY RESOURCES TO ACQUIRE MATRIX OIL AND GAS". The New York Times. Reuters. June 6, 2001.
- "Denbury Completes Majority of its Barnett Shale Sale" (Press release). Business Wire. July 6, 2009.
- "Denbury to Acquire Encore in a $4.5 Billion Transaction" (Press release). Business Wire. November 1, 2009.
- McCracken, Jeffrey (November 3, 2009). "Two U.S. Oil Firms To Merge". The Wall Street Journal.(subscription required)
- "Denbury Agrees to Acquire Gulf Coast Oil Field" (Press release). GlobeNewswire. May 1, 2012.
- Joyce, Matt (June 6, 2012). "Denbury acquires Thompson oil field for $360 million". American City Business Journals.
- González, Ángel (September 20, 2012). "Exxon to Buy Denbury's Bakken Acreage for $1.6 Billion". The Wall Street Journal.(subscription required)
- Chaudhuri, Saabira (January 15, 2013). "Conoco to Sell Fields to Denbury for $1.05 Billion". The Wall Street Journal.(subscription required)
- "Denbury Announces Management Transition Plan" (Press release). GlobeNewswire. March 21, 2017.
- "Denbury Resources to Acquire Interest in Rockies CO2 Flood" (Press release). GlobeNewswire. May 30, 2017.