Aug 2 Oil-focused producer Denbury Resources
Inc's quarterly profit fell 18 percent, as a rise in
production was not enough to offset the weak crude oil prices.
Denbury said second-quarter production rose 16 percent to
72,280 barrels of oil equivalent per day. Oil constituted 93
percent of Denbury's production in the quarter.
U.S. crude oil prices fell 9 percent to average $93
per barrel in the April-June quarter.
Net income fell to $212 million or 54 cents per share, in
the second quarter, from $259 million or 64 cents per share, a
Revenue rose marginally to $601.7 million.
Denbury shares were trading down 2 percent before the bell.
They closed at $15.40 on Wednesday on the New York Stock