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Denbury 4Q Profit Triples On Higher Prices, Output

DOW JONES NEWSWIRES Denbury Resources Inc.'s (DNR) fourth-quarter profit almost tripled, beating analysts' estimates, as revenue surged amid higher prices and output. The oil-and-gas explorer and producer has posted rising sales in five straight quarters as it has benefited from improved commodities pricing and the $4.5 billion acquisition of Encore Acquisition Co. last March. The deal transformed Denbury into one of the largest oil-focused independent producers. Denbury's profit rose to $10.4 million, or 3 cents a share, from $3.5 million, or 1 cent a share, a year earlier. Excluding items such as tax, hedging and merger impacts, earnings climbed to 22 cents from 18 cents. Revenue almost doubled to $519.1 million from $270.8 million a year earlier. Analysts polled by Thomson Reuters most recently forecast earnings of 19 cents on $492 million in revenue. Average daily production jumped 70% on the acquisition. Sales prices, excluding hedging impacts, rose 12% for oil and 14% for natural gas. Shares slid 1.4% to $22.50 in premarket trading. The stock had surged 68% in the past year through Tuesday's close. -By Ian Thomson, Dow Jones Newswires; 212-416-2314; Order free Annual Report for Denbury Resources Inc. Visit or call 1-888-301-0513

Stock News for Denbury (DNR)
02/05/201607:00:00Denbury Announces Release Date for Fourth Quarter and Full-Year...
02/02/201607:49:59Amended Statement of Ownership (sc 13g/a)
02/01/201616:43:06Statement of Changes in Beneficial Ownership (4)
01/21/201606:02:29Current Report Filing (8-k)
01/20/201619:00:00Denbury Terminates Its Previously Announced Notes Exchange Offers
01/12/201610:53:15Current Report Filing (8-k)
01/12/201606:30:00Denbury Announces Covenant Amendment In Its Offers to Exchange...
01/11/201617:35:44Statement of Changes in Beneficial Ownership (4)
01/11/201617:34:12Statement of Changes in Beneficial Ownership (4)
01/11/201617:33:31Statement of Changes in Beneficial Ownership (4)
01/11/201617:32:11Statement of Changes in Beneficial Ownership (4)
01/08/201613:31:20Current Report Filing (8-k)
01/08/201610:54:43Current Report Filing (8-k)
01/08/201606:30:00Denbury Announces Extension of Deadline to Receive Early Participation...
01/05/201618:50:49Statement of Changes in Beneficial Ownership (4)
01/05/201618:49:54Statement of Changes in Beneficial Ownership (4)
01/05/201618:48:03Statement of Changes in Beneficial Ownership (4)
12/22/201509:40:00U.S. Hot Stocks: Hot Stocks to Watch
12/22/201506:02:51Current Report Filing (8-k)
12/21/201521:02:17Denbury Announces Offers to Exchange Outstanding Senior Subordinated...

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