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United States

Profile: Denbury Resources Inc (DNR.N)

DNR.N on New York Stock Exchange

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13 Dec 2017
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Denbury Resources Inc., incorporated on April 20, 1999, is an oil and natural gas company. The Company's operations are focused in two operating areas: the Gulf Coast and Rocky Mountain regions. The Company's properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming. The Company had an estimated proved oil and natural gas reserves of 254.5 million barrels of oil equivalent (MMBOE), as of December 31, 2016.

Gulf Coast Region

The Company's primary Gulf Coast carbon dioxide (CO2) source is Jackson Dome, which is located near Jackson, Mississippi. In addition to its natural source of CO2, the Company purchases CO2 from an industrial facility in Port Arthur, Texas and Geismar, Louisiana, which supplies approximately 55 million cubic feet per day (MMcf/d) of CO2 to the Company's enhanced oil recovery (EOR) operations. As of December 31, 2016, the Company had 1.2 trillion cubic feet (Tcf) of probable CO2 reserves at Jackson Dome. The Company's mature properties include its properties, which are located along its NEJD CO2 pipeline in southwest Mississippi and Louisiana and its Free State Pipeline in east Mississippi. This group of properties includes the Company's initial CO2 field, Little Creek, as well as various other fields, including Brookhaven, Cranfield, Eucutta, Lockhart Crossing, Mallalieu, Martinville, McComb and Soso fields. Many of these fields contain multiple reservoirs that are amenable to CO2 EOR. The Company's Delhi Field is located east of Monroe, Louisiana. Its Hastings Field is located south of Houston, Texas. Its Heidelberg Field is located in Mississippi and consists of an East Unit and a West Unit. The Company's Oyster Bayou Field is located in southeast Texas, east of Galveston Bay. Its Tinsley Field is located in Mississippi. Its Webster Field is located in Texas. As of December 31, 2016, Webster Field had an estimated proved non-tertiary reserves of approximately 2.6 MMBOE. Its Conroe Field is located north of Houston, Texas. As of December 31, 2016, Conroe Field had an estimated proved non-tertiary reserves of approximately seven MMBOE. Thompson Field is located in Texas. Thompson Field had an estimated proved non-tertiary reserves of approximately four MMBOE as of December 31, 2016.

Rocky Mountain Region

The Company's LaBarge Field is located in southwestern Wyoming. As of December 31, 2016, LaBarge Field consisted of approximately 1.2 one trillion cubic feet (Tcf) of proved CO2 reserves. As of December 31, 2016, the Company received an average of approximately 63 MMcf/d of CO2 from ExxonMobil's Shute Creek gas processing plant at LaBarge Field. The Riley Ridge Federal Unit is also located in southwestern Wyoming and produces gas from the same LaBarge Field. The 20-inch Greencore Pipeline in Wyoming is the CO2 pipeline that the Company has constructed in the Rocky Mountain region. The Company's Bell Creek Field is a sandstone reservoir, which is located in southeast Montana. Its Cedar Creek Anticline (CCA) is located in Montana. As of December 31, 2016, CCA consisted of a series of approximately 14 various operating areas. As of December 31, 2016, the non-tertiary proved reserves associated with CCA were 80.7 MMBOE. CCA is located approximately 110 miles north of Bell Creek Field. The Company has working interest in Grieve Field, located in Natrona County, Wyoming, in exchange for developing the Grieve Field CO2 flood. The Company's Hartzog Draw Field is located in the Powder River Basin of northeastern Wyoming, approximately 12 miles from its Greencore Pipeline. Hartzog Draw Field had an estimated proved reserves of approximately 3.2 MMBOE net to its interest, over one MMBOE, of which relate to the natural gas producing Big George coal zone as of December 31, 2016. The Company also produces oil and natural gas either from fields in both Gulf Coast and Rocky Mountain regions that are not amenable to EOR or from specific reservoirs (within an existing tertiary field) that are not amenable to EOR. As of December 31, 2016, the production of these non-tertiary oil properties totaled 2,035 barrels of oil equivalent per day (BOE/d).

Company Address

Denbury Resources Inc

5320 Legacy Dr
PLANO   TX   75024-3127
P: +1972.6732000
F: +1302.6555049

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