Denbury Resources Inc. today announced a net loss of $26 million, or $0.06 per diluted share, for the first quarter of 2019. Adjusted net income was $45 million, or $0.10 per diluted share, with the difference from the GAAP net loss primarily due to $92 million of noncash expense related to fair value changes in the Company’s commodity derivative positions . Production of 59,218 barrels of oil equivalent per day [...]
Denbury Resources Inc. will host a conference call to review and discuss first quarter 2019 financial and operating results on Tuesday, May 7, 2019 at 10:00 A.M. . The Company plans to issue its financial and operating results prior to the market opening on the same day. Individuals who would like to participate should dial the applicable dial-in number listed below ten minutes before the scheduled start time. What [...]
Denbury Resources Inc. today announced that Chris Kendall, President and Chief Executive Officer, will present at the 25th Annual Oil & Gas Investment Symposium hosted by the Independent Petroleum Association of America on Monday, April 8, 2019, at 9:05 a.m. Eastern Time. An updated corporate presentation for the conference and a link to the live webcast of the presentation will be available in the investor relations [...]
Denbury Resources Inc. today announced the appointment of Mary M. VanDeWeghe to its Board of Directors on March 27, 2019. Ms. VanDeWeghe has been appointed to the Audit Committee and Reserves and Health, Safety and Environmental Committee of the Board. Ms. VanDeWeghe has served as the President and Chief Executive Officer of Forte Consulting, Inc., a management and financial consulting firm, since March 2009, and was [...]
Denbury Resources Inc. today announced that it has mutually agreed with Penn Virginia Corp. to terminate their previously announced agreement under which Denbury was to acquire Penn Virginia. Chris Kendall, Denbury’s President and CEO, commented, “While we firmly believed in the strategic merits of the combination with Penn Virginia, the difficult market conditions since announcement, combined with the [...]
Denbury Resources Inc. and Penn Virginia Corp. jointly announced today that, in connection with Denbury’s pending acquisition of Penn Virginia, April 16, 2019 at 5:00 p.m. Eastern Time is the election deadline for record holders of shares of Penn Virginia’s common stock to elect the form of merger consideration they wish to receive in connection with the transaction. An election will be valid only if a [...]
Denbury Resources Inc. and Penn Virginia Corp. today announced that they have jointly filed a definitive joint proxy statement/prospectus with the SEC in connection with Denbury’s proposed acquisition of Penn Virginia. Special meetings of Denbury stockholders and Penn Virginia shareholders have been set for Wednesday, April 17, 2019 to approve the previously announced merger (in the case of Penn Virginia shareholders [...]
Denbury Resources Inc. today announced its fourth quarter and full-year 2018 financial and operating results, along with its 2019 capital budget and currently estimated 2019 production. 2018 FOURTH QUARTER AND FULL-YEAR HIGHLIGHTS Financial Delivered net income of $174 million for 4Q 2018 and $323 million for 2018 ◦ Adjusted net income of $46 million for 4Q 2018 and $220 million for 2018 ◦ Adjusted EBITDAX of $141 million for 4Q 2018 and $584 million for 2018 ◦ Generated $81 million of free cash flow in 2018 Incurred $323 million of development capital, within original 2018 capital budget range Reduced debt principal by $243 million in 2018, ending the year with no outstanding borrowings on the Company’s bank credit facility and $39 million of cash on ... [...]
Kaskela Law LLC is investigating Denbury Resources Inc. of behalf of the Company's shareholders. On October 28, 2018, Denbury announced that it had entered into an agreement to acquire Penn Virginia Corp. in a cash and stock transaction. According to the announcement, Denbury will exchange $25.86 per share in cash and 12.4 shares of newly-issued Denbury common stock for each share of Penn Virginia common stock, in a [...]
Denbury Resources Inc. will host a conference call to review and discuss fourth quarter and full-year 2018 financial and operating results on Wednesday, February 27, 2019 at 10:00 A.M. . Members of Penn Virginia management will be available to participate in certain portions of the conference call. The Company plans to issue its fourth quarter and full-year 2018 financial and operating results, together with its financial [...]
Kaskela Law LLC is investigating Denbury Resources Inc. of behalf of the Company's stockholders. On October 28, 2018, Denbury announced that it had entered into an agreement to acquire Penn Virginia Corp. in a cash and stock transaction. According to the announcement, Denbury has agreed to exchange $25.86 per share in cash and 12.4 shares of newly-issued Denbury common stock for each share of Penn Virginia common stock [...]
Denbury Resources Inc. and Penn Virginia Corp. today announced the filing of a registration statement on Form S-4 containing a joint proxy statement/prospectus with the Securities and Exchange Commission in connection with Denbury’s proposed acquisition of Penn Virginia. The joint proxy statement outlines the strategic rationale and merits of the combination as well as the comprehensive and robust process undertaken [...]
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