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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; ian.thomson@dowjones.com Order free Annual Report for Denbury Resources Inc. Visit http://djnewswires.ar.wilink.com/?link=DNR or call 1-888-301-0513

Stock News for Denbury (DNR)
DateTimeHeadline
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)
05/21/201515:58:20Statement of Changes in Beneficial Ownership (4)
05/21/201515:56:36Statement of Changes in Beneficial Ownership (4)
05/15/201512:04:02Top 10 Prime Oil Stock Takeover Candidates
05/06/201509:38:30Current Report Filing (8-k)
05/06/201507:30:00Denbury Reports First Quarter 2015 Results
04/28/201516:58:48Current Report Filing (8-k)

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