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Denbury Resources Inc. (DNR)

NYSE - Nasdaq Real Time Price. Currency in USD
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0.24100.0000 (0.00%)
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Neutralpattern detected
Previous Close0.2300
Open0.2308
Bid0.0000 x 1200
Ask0.0000 x 1300
Day's Range0.2277 - 0.2419
52 Week Range0.0220 - 1.6800
Volume0
Avg. Volume19,629,139
Market Cap122.062M
Beta (5Y Monthly)N/A
PE Ratio (TTM)0.39
EPS (TTM)N/A
Earnings DateNov 05, 2020 - Nov 09, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est0.15
  • GlobeNewswire

    Denbury Successfully Completes Financial Restructuring

    Emerges from Chapter 11 Well-Positioned for Long-Term Success Moves Forward as Stronger Business With Significant Financial FlexibilityPLANO, Texas, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) today announced that it has successfully completed its financial restructuring and emerged from Chapter 11.  Denbury’s common stock is expected to commence trading on the New York Stock Exchange under the ticker symbol DEN at market open Monday, September 21, 2020.Consistent with the previously announced Restructuring Support Agreement and the Company’s “pre-packaged” plan, Denbury has restructured its balance sheet and eliminated $2.1 billion of bond debt.  Throughout the court-supervised process, Denbury has continued to operate without interruption while fully satisfying all trade, customer, employee, royalty owner, working, and other mineral interest claims in the ordinary course.Chris Kendall, Denbury’s President and CEO, commented, “Today is an important day for Denbury and all of our stakeholders.  Having quickly and efficiently completed our restructuring process, Denbury is now a stronger company with the financial flexibility to continue building on our unique CO2 EOR focused strategy for many years to come.  As a result of this process, we are better positioned to compete in a dynamic and evolving energy market and capitalize on the many opportunities ahead, including leveraging our expertise and our strategic assets into an emerging carbon capture, use, and storage business.  As we move forward, we are committed to maintaining a strong balance sheet.“On behalf of all of us at Denbury, I would like to thank our customers, vendors and other business partners for their unwavering support over the last several months.  I would also like to thank our creditors for their confidence in Denbury, which enabled us to quickly and efficiently complete this financial restructuring process.  Finally, I am grateful to our dedicated employees whose determination and hard work have allowed us to continue performing at a high level while remaining focused on safe, responsible and efficient operations.”As disclosed on September 15, 2020, Denbury has changed its corporate name from Denbury Resources Inc. to Denbury Inc.  Further information regarding the restructuring, including the securities being issued, the Company’s exit revolving credit facility, Denbury’s newly appointed directors, and other matters associated with the restructuring will be provided in a Form 8-K to be filed later today, which can be viewed on the Company’s website at www.denbury.com or the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.Kirkland & Ellis LLP is acting as legal counsel to Denbury, Evercore Inc. is acting as financial advisor and Alvarez & Marsal is serving as restructuring advisor.ABOUT DENBURYDenbury is an independent oil and natural gas company with operations focused in two key operating areas: the Gulf Coast and Rocky Mountain regions.  The Company’s goal is to increase the value of its properties through a combination of exploitation, drilling and proven engineering extraction practices, with the most significant emphasis relating to carbon dioxide enhanced oil recovery (CO2 EOR) operations.  For more information about Denbury, please visit www.denbury.com.This press release contains forward-looking statements that involve a number of risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission, including Denbury’s most recent Form 10-Q and its 2019 Form 10-K.  These risks and uncertainties are incorporated by this reference as though fully set forth herein.  These forward-looking statements include the Company’s ability to successfully capitalize on the reorganization and operate on a long-term basis.  There is no assurance that the goals and timing herein can or will be met.  In addition, any forward-looking statements represent the Company’s estimates only as of today and should not be relied upon as representing its estimates as of any future date.  Denbury assumes no obligation to update its forward-looking statements. CONTACT: INVESTOR CONTACT: John Mayer Denbury Inc., Director of Investor Relations 972.673.2383 MEDIA CONTACT: Andrew Siegel / Michael Freitag / Andrew Squire Joele Frank, Wilkinson Brimmer Katcher 212.355.4449

  • GlobeNewswire

    Denbury Resources Pre-Packaged Plan Confirmed By Court

    Expects to Emerge from Chapter 11 in Mid-September with Strengthened Balance Sheet Operations Continuing in Normal CoursePLANO, Texas, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Denbury Resources Inc. (OTC Pink: DNRCQ) (“Denbury” or the “Company”) today announced that the United States Bankruptcy Court for the Southern District of Texas (the “Court”) has confirmed its "pre-packaged" plan to restructure the Company’s balance sheet and eliminate Denbury’s $2.1 billion of bond debt (the “Plan”).  The Plan received the overwhelming support of the Company’s stakeholders, receiving high consensus across all voting classes and unanimous acceptance from second lien and convertible noteholders.  The Company expects to successfully complete its financial restructuring and emerge from Chapter 11 in mid-September.Consistent with the previously announced Restructuring Support Agreement, the Plan implements a financial restructuring of the Company’s balance sheet.  The Plan is specifically designed to have no impact on the Company’s operations while fully satisfying all trade, customer, employee, royalty, working, and other mineral interest claims in the ordinary course.  Per the Plan, the Company is authorized to and must pay trade, employee, and ordinary course claims.Chris Kendall, Denbury’s President and CEO, commented, “We are pleased to have reached this important milestone on an expedited basis thanks to the strong support of the Company’s creditors, along with our customers and business partners.  Importantly, we continue to perform at a high level, remaining focused on safe, responsible and efficient operations, and we are committed to maintaining a strong balance sheet.“Most of all, I want to thank our team for their continued hard work and dedication to Denbury during this restructuring process.  We look forward to emerging as a stronger business with significant financial flexibility, positioning Denbury to continue building on the multiple advantages of our unique CO2 EOR focused strategy for many years to come.”Additional information is available at www.denburyrestructuring.com or by calling Denbury’s Restructuring Hotline at 855-917-3570 (toll-free in the U.S.) or 503-520-4467 (for calls originating outside the U.S.).  Court documents and additional information about the Court-supervised process are available on a separate website administered by Denbury’s claims agent, Epiq, at https://dm.epiq11.com/Denbury.Kirkland & Ellis LLP is acting as legal counsel to Denbury, Evercore Inc. is acting as financial advisor and Alvarez & Marsal is serving as restructuring advisor.ABOUT DENBURY RESOURCESDenbury is an independent oil and natural gas company with operations focused in two key operating areas: the Gulf Coast and Rocky Mountain regions.  The Company’s goal is to increase the value of its properties through a combination of exploitation, drilling and proven engineering extraction practices, with the most significant emphasis relating to carbon dioxide enhanced oil recovery (CO2 EOR) operations.  For more information about Denbury, please visit www.denbury.com.This press release contains forward-looking statements that involve a number of risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission, including Denbury’s most recent Form 10-Q and its 2019 Form 10-K.  These risks and uncertainties are incorporated by this reference as though fully set forth herein.  These forward-looking statements include the expected timing of completion of the restructuring and emergence from Chapter 11 proceedings.  There is no assurance that the goals and timing herein can or will be met.  In addition, any forward-looking statements represent the Company’s estimates only as of today and should not be relied upon as representing its estimates as of any future date.  Denbury assumes no obligation to update its forward-looking statements. CONTACT: INVESTOR CONTACT: John Mayer Denbury Resources Inc., Director of Investor Relations 972.673.2383 MEDIA CONTACT: Andrew Siegel / Michael Freitag / Andrew Squire Joele Frank, Wilkinson Brimmer Katcher 212.355.4449

  • Moody's

    Denbury Resources Inc. -- Moody's downgrades Denbury Resources' PDR to D-PD on bankruptcy filing

    Moody's Investors Service, ("Moody's") downgraded Denbury Resources Inc.'s (Denbury) Probability of Default Rating (PDR) to D-PD from Ca-PD. Denbury's other ratings were affirmed, including its Ca Corporate Family Rating (CFR), Ca rating on its senior secured second lien debt, and C rating on its senior subordinated debt.