Denbury Announces Appointment of Cindy Yeilding to Board of Directors

Rhea-AI Summary

Denbury Inc. (NYSE: DEN) has appointed Cindy A. Yeilding to its Board of Directors as of March 16, 2021. With over 35 years of experience in the energy sector, particularly in Carbon Capture, Use, and Storage (CCUS), Ms. Yeilding's expertise will enhance Denbury's strategic positioning in the transition to a lower-carbon future. She will serve on the Sustainability Committee and Nominating/Corporate Governance Committee. Following her appointment, the Board will consist of eight directors, seven of whom are independent.

Positive

• Cindy Yeilding's extensive experience in CCUS is expected to strengthen Denbury's position as a leader in the emerging market.
• Her prior leadership roles at BP could bring valuable insights and networks to Denbury.

Negative

• Concerns may arise regarding continuity and experience gaps with board dynamics after the management change.

PLANO, Texas, March 16, 2021 (GLOBE NEWSWIRE) -- Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) today announced the appointment of Cindy A. Yeilding to its Board of Directors (“Board”) effective March 16, 2021.   Ms. Yeilding brings extensive energy and technical expertise to Denbury’s Board, including a deep understanding of the emerging Carbon Capture, Use, and Storage (“CCUS”) industry.   Ms. Yeilding will serve as a member of the Board’s Sustainability Committee and Nominating/Corporate Governance Committee.   Following Ms. Yeilding’s appointment, the Board will be comprised of eight directors, seven of whom are independent.

“We are thrilled to have Cindy join the Denbury Board,” said Dr. Kevin O. Meyers, Chairman of the Board. “Cindy is a widely recognized and broadly respected leader in both the CCUS and energy industries, and her deep experience and unique skills will be highly valuable as we continue to position Denbury as an essential industry partner in the transition to a lower-carbon future.”

Ms. Yeilding’s experience includes more than 35 years with BP in various roles of leadership and as a technical expert, most recently serving as Senior Vice President of BP America from April 2016 until her retirement in December 2020. While in this role, she chaired the coordinating subcommittee of the U.S. National Petroleum Council’s Carbon Capture, Use, and Storage study, leading a diverse group of over 300 participants from across the energy industry, other industries, state and federal government agencies, NGO’s, and other public interest groups, financial institutions, consultancies, academia, and research groups in the development of this influential study, which was published in 2020. Ms. Yeilding currently serves as the Board Chair for the Offshore Technology Conference and serves on the board of the Center for Houston’s Future Board of Directors.   She previously served on the board of directors and executive committee of the Greater Houston Partnership.   Ms. Yeilding has a Bachelor of Science degree in Geology from Southern Methodist University and a Master of Science degree in Geology from the University of North Carolina.   Additionally, Ms. Yeilding was a founding member of the American Association of Petroleum Geologists Women’s Committee and initiated the women’s networking session for Women in Science and Engineering at the Offshore Technology Conference. In 2020, Ms. Yeilding was selected as one of Hart Energy’s “25 Most Influential Women in Energy”.

ABOUT DENBURY

Denbury is an independent energy company with operations focused on producing oil from mature oil fields in the Gulf Coast and Rocky Mountain regions. The Company is differentiated by its focus on CO₂ Enhanced Oil Recovery (EOR) and the emerging Carbon Capture, Use, and Storage (CCUS) industry, supported by the Company’s CO₂ EOR technical and operational expertise and its extensive CO₂ pipeline infrastructure. The utilization of captured industrial-sourced CO₂ in EOR significantly reduces the carbon footprint of the oil that Denbury produces, underpinning the Company’s goal to fully offset its Scope 1, 2, and 3 CO₂ emissions within the decade. For more information about Denbury, please visit www.denbury.com.

FAQ

Who is Cindy Yeilding, and what is her background?

Cindy Yeilding is a seasoned energy executive with over 35 years at BP, most recently as Senior VP of BP America. She has significant expertise in Carbon Capture, Use, and Storage.

When was Cindy Yeilding appointed to the Denbury Board?

Cindy Yeilding was appointed to the Denbury Board on March 16, 2021.

What committees will Cindy Yeilding serve on at Denbury?

Cindy Yeilding will serve on Denbury's Sustainability Committee and Nominating/Corporate Governance Committee.

How many directors are on Denbury's Board after this appointment?

After Cindy Yeilding's appointment, Denbury's Board will consist of eight directors, seven of whom are independent.

What is Denbury's focus concerning carbon emissions?

Denbury aims to fully offset its Scope 1, 2, and 3 CO2 emissions within the decade by utilizing captured CO2 in Enhanced Oil Recovery.