Denbury Inc. - DEN STOCK NEWS

Denbury Inc. (NYSE: DEN) announced its financial and operational results for the first quarter of 2023, scheduled for release after U.S. markets close on May 3rd. A live webcast to discuss these results will be held on May 4th at 11:00 a.m. CDT. Denbury focuses on Carbon Capture, Utilization, and Storage (CCUS) and Enhanced Oil Recovery (EOR) in the Gulf Coast and Rocky Mountain regions. With over four million tons of industrial-sourced CO₂ injected annually, the company aims to offset its CO₂ emissions by 2030. Interested parties can access the earnings release and webcast on their Investor Relations website.

Aqualung Carbon Capture has announced a strategic partnership with Denbury, the world's largest CO2 pipeline operator, to enhance carbon capture and sequestration efforts. Denbury will make an equity investment in Aqualung, bolstering its shareholder base. Aqualung's innovative membrane technology aims to significantly reduce CO2 capture costs, targeting sources emitting under 1 million metric tons per year, accounting for approximately 90% of stationary emitters. The partnership is expected to expedite Aqualung’s strategy in the U.S., aiming for commercial CO2 transportation via Denbury's pipeline by 2024.

Denbury Inc. (NYSE: DEN) has announced key agreements to advance its carbon capture, utilization, and storage (CCUS) business. These include CO₂ transportation agreements with HIF Global and Monarch Energy, targeting the emerging eFuels market. The company also revealed its first dedicated CO₂ sequestration site in Campbell County, Wyoming, with an estimated capacity of 40 million metric tons. Furthermore, investments in ION Clean Energy and Aqualung Carbon Capture aim to enhance CO₂ capture technologies. Denbury's 2023 goals include expanding its CO₂ storage portfolio and securing additional agreements to cover 30 million metric tons per annum by year-end.

Denbury Inc. (NYSE: DEN) has announced its 2023 capital budget, estimating total expenditures of $510 million, a 19% increase from 2022. This includes $360 million for oil and gas development and $150 million for carbon capture, utilization, and storage (CCUS). The company aims to enhance its CO₂ storage sites and infrastructure, furthering its strategy for a robust CCUS network. Expected production volumes are projected between 46,000 to 49,000 barrels of oil equivalent per day, supported by its CCA EOR projects. Anticipated operating cash flows should support capital expenditures assuming WTI prices of $75 per barrel.

Denbury Inc. (NYSE: DEN) announced its fourth quarter and full-year 2022 results, reporting a net income of $75.1 million for Q4 and $480.2 million for the full year. Adjusted net income was $80 million in Q4. The company generated $521 million in cash flow from operations and $136 million of free cash flow in 2022. Denbury repurchased $100 million of stock, totaling 1.6 million shares. As of year-end, the PV-10 value of proven reserves was nearly $4.5 billion, reflecting a 67% increase from 2021. Operational challenges impacted Q4 sales volumes, averaging 46,641 BOE/d. The company remains optimistic about future production from the Cedar Creek Anticline EOR project.

Denbury Inc. (NYSE: DEN) will announce its fourth quarter 2022 financial results on February 23, 2023, before market open. The Company will also provide its initial outlook for 2023, discussing projections for oil & gas production, costs, and capital expectations for its operations. A webcast will be held at 11:00 a.m. CST on the same day for further insights. Denbury focuses on carbon capture and enhanced oil recovery in the Gulf Coast and Rocky Mountain regions, injecting over four million tons of CO2 annually and aiming to offset all emissions by 2030.

Denbury Inc. (NYSE: DEN) announced that CEO Chris Kendall will participate in a panel on carbon capture economics at the Goldman Sachs Global Energy and Clean Technology Conference on January 5, 2023, at 11:00 a.m. ET. The company will also hold investor meetings and post supplemental materials on its website that morning. Denbury focuses on Carbon Capture, Use, and Storage (CCUS) and Enhanced Oil Recovery (EOR), injecting over four million tons of captured CO2 annually, aiming to offset its emissions by 2030.

Denbury Inc. (NYSE: DEN) is hosting a live webcast today at 10:00 a.m. C.T. to discuss its carbon capture, utilization, and storage (CCUS) strategy and financial outlook. Key details include a 1,300-mile CO₂ pipeline network, expansion estimates of CO₂ capacity to over 150 Mmtpa, and projected growth in service volumes to 50–70 Mmtpa by 2030. CCUS operations are expected to be self-funding by 2026/2027, with capital expenditures of $200-$250 million from 2023 to 2030. Denbury aims for net negative CO₂ emissions by 2030.

Denbury Inc. (NYSE: DEN) has signed a definitive agreement for a CO₂ sequestration site in southwest Louisiana spanning 31,000 acres. This site is expected to store up to 250 million metric tons of CO₂, with the first injection planned by 2026. The strategic location supports industrial emissions from nearby areas, including Beaumont and Port Arthur, Texas. Denbury aims to enhance its Carbon Capture, Use and Storage (CCUS) business with this development, leveraging its existing pipeline infrastructure.