Key Developments: Denbury Resources Inc (DNR.N)

DNR.N on New York Stock Exchange

6.47USD
28 Jan 2015
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Latest Key Developments (Source: Significant Developments)

Denbury Resources Inc Announces Initiation of Quarterly Dividends And Increase In Share Repurchase Authorization
Sunday, 10 Nov 2013 01:00pm EST 

Denbury Resources Inc. announced that it currently expects to pay a regular full-year dividend of $0.25 per share, or $0.0625 per share quarterly, beginning in the first quarter of 2014. Based on its current financial projections and commodity price outlook, Denbury expects to grow its regular annual dividend rate to between $0.50 per share and $0.60 per share in 2015, and at a sustainable rate thereafter. All dividends are subject to declaration by Denbury's Board of Directors. Denbury's Board of Directors has approved an increase in the dollar amount of remaining share repurchases authorized under its multi-year share repurchase program to $250 million from $109 million. The increase raises the total amount authorized under the program since it commenced in October 2011 to $912 million, of which Denbury has spent $662 million as of September 30, 2013, to acquire a total of 43 million common shares, or about 11% of shares outstanding at September 30, 2011, at an average cost of $15.48 per share. There is no set expiration date for the program and no requirement that the entire authorized amount be used.  Full Article

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

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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