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Denbury 3Q Net Up 8.3% As Higher Prices, Output Boost Revenue

DOW JONES NEWSWIRES Denbury Resources Inc.'s (DNR) third-quarter profit rose 8.3% as revenue climbed amid higher prices and output. Shares were up 1% at $17.61 in recent premarket trading as the revenue figure handily topped analysts' estimates. The stock gained 18% so far this year, as of Wednesday's close. The oil-and-gas explorer and producer has been benefiting from improved commodities pricing for several quarters and recent results have been boosted by its $4.5 billion acquisition of Encore in March. The deal transformed the company into one of the largest oil-focused independent producers. Denbury's profit rose to $29.1 million from $26.9 million a year earlier but fell to 7 cents from 11 cents on a per-share basis as the number outstanding grew 59% amid the acquisition. Excluding items such as hedging and merger impacts, earnings slid to 13 cents from 16 cents as revenue more than doubled to $466.7 million. Analysts polled by Thomson Reuters most recently forecast earnings of 13 cents on $451 million in revenue. Average daily production jumped 82% on the acquisition. Sales prices, excluding hedging impacts, rose 12% for oil and 47% for natural gas. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for Denbury (DNR)
DateTimeHeadline
08/12/201513:28:19Post-effective Amendment to an S-8 Filing (s-8 Pos)
08/12/201513:26:29Securities Registration: Employee Benefit Plan (s-8)
08/06/201518:23:42Quarterly Report (10-q)
08/05/201509:22:04Current Report Filing (8-k)
07/28/201516:50:27Current Report Filing (8-k)
07/09/201517:29:04Amended Statement of Ownership (sc 13g/a)
07/02/201514:21:14Statement of Changes in Beneficial Ownership (4)
07/02/201514:19:56Statement of Changes in Beneficial Ownership (4)
07/02/201514:19:05Statement of Changes in Beneficial Ownership (4)
06/18/201511:02:183 Stocks to Watch in Upstream Oil & Gas
06/17/201511:50:07Statement of Changes in Beneficial Ownership (4)
06/03/201513:39:1310 Best Oil Stocks by Oil Reserves
05/31/201511:00:03Oil Investment Opportunites for the Long Term
05/24/201508:00:033 Undervalued Stocks in Oil Worth Buying
05/22/201512:33:01Current Report Filing (8-k)
05/21/201516:07:55Statement of Changes in Beneficial Ownership (4)
05/21/201516:06:37Statement of Changes in Beneficial Ownership (4)
05/21/201516:04:28Statement of Changes in Beneficial Ownership (4)
05/21/201516:00:31Statement of Changes in Beneficial Ownership (4)
05/21/201515:59:14Statement of Changes in Beneficial Ownership (4)

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