Denbury Inc. today announced the appointment of Cindy A. Yeilding to its Board of Directors effective March 16, 2021. Ms. Yeilding brings extensive energy and technical expertise to Denbury's Board, including a deep understanding of the emerging Carbon Capture, Use, and Storage industry. Ms. Yeilding will serve as a member of the Board's Sustainability Committee and Nominating/Corporate Governance Committee. Following Ms [...]
Denbury Inc. today announced that Chris Kendall, President and Chief Executive Officer, and other members of senior management are scheduled to present in a virtual fireside chat at the Credit Suisse 26th Annual Energy Summit on Monday, March 1, 2021, at 3:20 p.m. Eastern Time. Mr. Kendall and other members of senior management will also participate in virtual meetings with institutional investors. An updated corporate [...]
Denbury Inc. today announced its fourth quarter and full-year 2020 financial and operating results, along with its 2021 capital budget and projected 2021 production. 2020 FOURTH QUARTER AND FULL-YEAR HIGHLIGHTS Adjusted EBITDAX of $77 million for 4Q 2020 and $326 million for 2020 Generated $88 million of free cash flow in 2020 Invested $95 million of development capital in 2020, at the low end of the revised capital [...]
Denbury Inc. today announced that it will issue its fourth quarter and full-year 2020 financial and operating results prior to the market opening on Thursday, February 25, 2021. 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 2020 financial and operating results and to discuss the Company's 2021 outlook. Individuals who would like to participate [...]
Denbury Inc. today announced that it has entered into an agreement with a subsidiary of Devon Energy Corp. to acquire a nearly 100% working interest in the Big Sand Draw and Beaver Creek oil fields located in Freemont County, Wyoming for a cash purchase price of $12 million. The purchase price includes associated surface facilities and the 46-mile CO2 transportation pipeline to the acquired fields. Net production from the [...]
Denbury Inc. today announced its third quarter 2020 financial and operating results. FINANCIAL AND OPERATIONAL HIGHLIGHTS Successfully completed financial restructuring and emerged from Chapter 11 reorganization on September 18, 2020, with a strong balance sheet and strong liquidity position: Reduced bond debt by $2.1 billion, resulting in $165 million annual interest savings Established a new $575 million senior secured [...]
Denbury Inc. today announced that it has restructured its long-standing CO2 pipeline arrangements with Genesis Energy, L.P. , covering: the 183-mile Northeast Jackson Dome Pipeline system which runs south from Denbury’s Jackson Dome CO2 source field to near Donaldsonville, Louisiana, where it connects into Denbury’s Green Pipeline extending across south Louisiana and southeast Texas to near Houston, and the 86-mile Free [...]
Denbury Inc. today announced that it has successfully completed its financial restructuring and emerged from Chapter 11. Denbury’s common stock is expected to commence trading on the New York Stock Exchange under the ticker symbol DEN at market open Monday, September 21, 2020. Consistent with the previously announced Restructuring Support Agreement and the Company’s “pre-packaged” plan, Denbury has restructured its [...]
Denbury Resources Inc. today announced that the United States Bankruptcy Court for the Southern District of Texas has confirmed its "pre-packaged" plan to restructure the Company’s balance sheet and eliminate Denbury’s $2.1 billion of bond debt . The Plan received the overwhelming support of the Company’s stakeholders, receiving high consensus across all voting classes and unanimous acceptance from second lien and [...]
Denbury Resources Inc. today was notified by the New York Stock Exchange of its determination to commence proceedings to delist the Company’s common stock from trading on the NYSE and as of July 31, 2020 to indefinitely suspend trading of the Company’s common stock on the NYSE. This suspension and delisting is being done by the NYSE in accordance with Section 802.01D of the NYSE Listed Company Manual due to the Company’s [...]
Denbury Resources Inc. today announced it has taken the next step to implement its “pre-packaged” plan to eliminate the Company’s $2.1 billion of bond debt, consistent with the terms of its previously announced Restructuring Support Agreement . As announced on July 29, 2020, Denbury entered into an RSA with funded debtholders holding 100% of the Company’s revolving credit facility loans, approximately 67.2% of its second [...]
Intends to File Voluntary Chapter 11 Petitions to Implement Financial Restructuring Receives Committed DIP and Exit Financing of up to $615 Million to Support Continued Operations in the Normal Course PLANO, Texas, July 29, 2020 -- Denbury Resources Inc. today announced that it has entered into a Restructuring Support Agreement with funded debtholders holding 100% of revolving credit facility loans, approximately 67.2% of [...]
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