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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
01/28/201516:51:43MARKET SNAPSHOT: U.S. Stocks Sell Off After Fed Statement
01/28/201515:28:17MARKET SNAPSHOT: U.S. Stocks Stumble After Fed Statement
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01/28/201513:41:51MARKET SNAPSHOT: U.S. Stocks Lose Steam In Choppy Trade
01/28/201513:40:40MARKET SNAPSHOT: U.S. Stocks Turn Lower Ahead Of Fed Meeting
01/20/201510:48:18U.S. Stocks Drop Along With Oil Prices
01/05/201513:14:06MARKET SNAPSHOT: U.S. Stocks Nose Dive As Oil Prices Tumble
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01/05/201510:19:27MARKET SNAPSHOT: U.S. Stocks Threaten 200-point Tumble Amid Euro...
01/05/201510:17:03MARKET SNAPSHOT: U.S. Stocks Tumble Amid Euro, Oil Turmoil
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11/30/201421:40:08Even After Selloff, Energy Stocks Find Few Buyers
06/12/201416:43:41MARKET SNAPSHOT: U.S. Stocks Fall; S&P 500 Down For Third Day
06/12/201414:52:18MARKET SNAPSHOT: U.S. Stocks Fall; Dow In Triple-digit Decline
06/12/201410:29:47MARKET SNAPSHOT: U.S. Stocks Edge Lower; Energy Sector Rallies
11/15/201309:19:39Omega Advisors 3Q 13F: Largest Purchases
11/15/201309:19:36Omega Advisors 3Q 13F: Holdings As Of Sep 30

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