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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
04/22/201504:19:41Nomura Begins Coverage on Denbury Resources (DNR)
04/21/201508:53:24EDISON EQUITY RESEARCH - DENBURY RESOURCES
04/20/201516:30:00Denbury Announces Release Date for First Quarter 2015 Results...
04/14/201514:34:02High Return Investments in Oil Potentially Worth the Risk
04/13/201517:45:19How Much Does It Cost To Produce One Barrel Of Oil (Breitburn...
04/13/201512:29:02Oil and Index Change Upend Denbury Resources Inc.âs Stock in M...
04/09/201511:33:21Additional Proxy Soliciting Materials (definitive) (defa14a)
04/09/201511:23:36Proxy Statement (definitive) (def 14a)
04/02/201514:47:57Statement of Changes in Beneficial Ownership (4)
04/02/201514:34:38Amended Statement of Changes in Beneficial Ownership (4/a)
04/02/201514:33:21Statement of Changes in Beneficial Ownership (4)
04/02/201514:32:00Statement of Changes in Beneficial Ownership (4)
04/02/201514:31:32Statement of Changes in Beneficial Ownership (4)
04/02/201514:28:36Statement of Changes in Beneficial Ownership (4)
04/02/201514:25:30Statement of Changes in Beneficial Ownership (4)
04/02/201514:23:46Statement of Changes in Beneficial Ownership (4)
04/02/201514:21:55Statement of Changes in Beneficial Ownership (4)
04/02/201514:20:04Statement of Changes in Beneficial Ownership (4)
03/28/201511:50:023 Oil Stocks Wall Street Is Wrong About
03/27/201512:14:33Annual Report of Employee Stock Plans (11-k)

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