Profile: Denbury Resources Inc (DNR)
30 Jan 2015
Denbury Resources Inc., incorporated on April 20, 1999, is an independent oil and natural gas company. The Company’s oil and natural gas properties are concentrated in the Gulf Coast and Rocky Mountain regions in the United States. As of December 31, 2013, the Company's properties with proved and producing reserves in the Gulf Coast region were situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region were primarily situated in Montana, North Dakota, Utah and Wyoming. As of December 31, 2013, the Company had 468.3 million barrel of oil equivalent of proved oil and natural gas reserves, of which 83% was oil.
Gulf Coast Region
The Company’s Gulf Coast CO2 source, Jackson Dome, is located near Jackson, Mississippi. In addition to the proved reserves, it has an additional 2.5 trillion cubic feet of probable CO2 reserves at Jackson Dome. In addition to its natural source of CO2, it is party to four long-term contracts to purchase man-made CO2 from four plants. The Company acquired the 183-mile NEJD CO2 pipeline that runs from Jackson Dome to near Donaldsonville, Louisiana. Mature properties include its longest-producing properties which are generally located along its NEJD CO2 pipeline in southwest Mississippi and Louisiana and its Free State pipeline in east Mississippi.
The Company’s properties includes its initial CO2 field, Little Creek, as well as several other fields (Brookhaven, Cranfield, Eucutta, Lockhart Crossing, Mallalieu, Martinville, McComb and Soso fields). Delhi Field is located east of Monroe, Louisiana. Hastings Field is located south of Houston, Texas. Heidelberg Field is located in Mississippi and consists of an East Unit and a West Unit. Oyster Bayou Field is located in southeast Texas, east of Galveston Bay. Tinsley Field is located in Mississippi. Its CO2 enhanced oil recovery operations at Tinsley have thus far targeted the Woodruff formation, although there is additional potential in the Perry sandstone and other smaller reservoirs. Webster Field is located in Texas, approximately eight miles northeast of its Hastings Field. Conroe Field is located north of Houston, Texas. Thompson Field is located in Texas, approximately 18 miles west of its Hastings Field. Thompson Field had estimated proved non-tertiary reserves of approximately 15.4 million barrels of oil equivalents at December 31, 2013.
Rocky Mountain Region
The Company’s LaBarge Field is located in southwestern Wyoming. The gas composition from LaBarge Field is expected to be approximately 65% CO2, approximately 18% to 20% methane, less than 1% helium, and the remainder various other gases. As of December 31, 2013, its interest in LaBarge Field consisted of approximately 1.3 trillion cubic feet of proved CO2 reserves. The 20-inch Greencore Pipeline in Wyoming is the first CO2 pipeline it has constructed in the Rocky Mountain region. Bell Creek Field is located in southeast Montana. Cedar Creek Anticline is located in Montana but covers such a large area (approximately 126 miles) that it also extends into North Dakota. Hartzog Draw Field is located in the Powder River Basin of northeastern Wyoming, approximately 12 miles from its Greencore Pipeline.
Denbury Resources Inc
5320 LEGACY DRIVE
PLANO TX 75024