Key Developments: Denbury Resources Inc (DNR.N)

DNR.N on New York Stock Exchange

8.32USD
19 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Denbury Resources Inc Comments On Q4 2013 Production Guidance; Sees FY 2013 Production Guidance Slightly Above Mid-Point Of Prior Range
Tuesday, 5 Nov 2013 07:30am EST 

Denbury Resources Inc announced that it continue to expect Company-wide production to resume its sequential growth in the fourth quarter of 2013, driven by anticipated tertiary production growth at Hastings, Heidelberg, Bell Creek, and Oyster Bayou fields, and currently expect fiscal 2013 tertiary and total production to be slightly above the mid-point of its estimated production ranges.  Full Article

Denbury Resources Inc Comments On Q3 2013 Production Guidance - Conference Call
Tuesday, 1 Oct 2013 06:30pm EDT 

Denbury Resources Inc announced that for the third quarter of 2013, it expects production to be a little less than second quarter of 2013.  Full Article

Denbury Resources Inc Sees FY 2013 Production Guidance At Upper Half Off Prior Range-Conference Call
Monday, 13 May 2013 05:20pm EDT 

Denbury Resources Inc announced that production for fiscal 2013 is expected to raised to the upper half of the range.  Full Article

Denbury Resources Inc Announces Acquisition Of Rocky Mountain Property From ConocoPhillips's Subsidiary
Thursday, 28 Mar 2013 07:30am EDT 

Denbury Resources Inc announced the closing of acquisition of producing property interests in the Cedar Creek Anticline (CCA) of Montana and North Dakota from a wholly owned subsidiary of ConocoPhillips for cash consideration of $1.05 billion before purchase price adjustments. The acquired assets include additional interests in certain of Denbury's existing operated fields in CCA along with operating interests in other CCA fields. The Company estimates the final adjusted purchase price will be closer to $1.0 billion after adjustment for the net cash flows from the assets between the January 1, 2013 effective date and the closing date. The purchase was part of a like-kind exchange transaction that was funded with a portion of the cash received from the Company's Bakken sale and asset exchange with ExxonMobil completed in December 2012.  Full Article

Denbury Resources Inc Announces Pricing of $1.2 Billion Senior Subordinated Notes Offering
Tuesday, 22 Jan 2013 07:00pm EST 

Denbury Resources Inc announced that it has priced its offering of senior subordinated notes due July 2023, and increased the size of the offering from $1.0 billion to $1.2 billion aggregate principal amount of notes. The notes will carry a coupon rate of 4.625% and are being sold at 100% of par. The Company expects to close the sale of the notes on February 5, 2013. The net proceeds from the offering will be used by Denbury to fund the repurchase of any and all of its $426.4 million aggregate principal amount of 9.75% senior subordinated notes due March 2016 and any and all of its $224.9 million aggregate principal amount of 9.5% senior subordinated notes due May 2016, for which tender offers were announced earlier on January 22, 2013. The remaining proceeds from the offering will be used by Denbury for repayment of current borrowings under its bank credit facility and then for general corporate purposes. BofA Merrill Lynch, J.P. Morgan, Credit Suisse, Wells Fargo Securities, Credit Agricole Securities, and RBC Capital Markets acted as joint book-running managers for the senior subordinated notes offering.  Full Article

Denbury Resources Inc Agrees To Acquire Rocky Mountain Properties For $1.05 Billion
Tuesday, 15 Jan 2013 07:30am EST 

Denbury Resources Inc announced that it has entered into an agreement to acquire producing property interests in the Cedar Creek Anticline (CCA) of Montana and North Dakota from a wholly-owned subsidiary of ConocoPhillips for $1.05 billion cash. The assets to be purchased include additional interests in certain of Denbury's existing operated fields in CCA along with operating interests in other CCA fields. Denbury plans to fund the purchase out of the approximately $1.3 billion of cash received from its Bakken sale and asset exchange with ExxonMobil completed in December 2012, $1.05 billion of which was deposited in qualified trust accounts to allow for potential future asset purchases that would qualify for like-kind exchange treatment. The utilization of federal tax rules on like-kind exchanges for both the CCA properties to be acquired and the Rocky Mountain carbon dioxide ("CO2") reserves acquired in the ExxonMobil exchange transaction is expected to allow Denbury to defer more than $400 million of the $500 million of cash taxes originally estimated on the Bakken transaction prior to completing the CO2 reserves acquisition and agreeing to acquire the CCA properties.  Full Article

Falling oil prices hit junk bonds in energy sector

NEW YORK - Several months ago, U.S. mutual funds scooped up most of the $1.25 billion in high-yield junk bonds issued by Denbury Resources Inc, a Plano, Texas, oil and gas exploration company.

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