Denbury Inc. - DEN STOCK NEWS

Denbury Inc. (NYSE: DEN) will host a CCUS Business Outlook webcast on December 13, 2022, from 10:00 a.m. CST to 11:30 a.m. CST. Key executives, including Chris Kendall, will present the company's CCUS strategy, growth plans, and financial outlook. Interested individuals can register for the event via the Denbury Investor Relations website. Denbury, focused on Carbon Capture, Use and Storage, currently injects over four million tons of captured CO₂ annually, aiming to offset emissions by 2030.

Denbury Inc. reported its third quarter 2022 financial results, achieving $156 million in net cash flows from operations and $250 million in net income. The company generated $47 million of free cash flow, with an average daily production of 47,109 BOE/d. Denbury signed multiple CO2 transportation and sequestration agreements, expanding its carbon capture and storage capabilities. Despite challenges like inflation, the company anticipates capital expenditures of $135 million in Q4 2022, with a production forecast of 47,500 to 49,000 BOE/d.

Denbury Inc. (NYSE: DEN) has signed a definitive CO₂ Services Agreement with Clean Hydrogen Works to transport and sequester up to 12 million metric tons of CO₂ per year from the Ascension Clean Energy project in Louisiana. The agreement grants Denbury exclusive rights for 12 years, with potential extensions. Denbury has already invested $10 million in the project and will invest an additional $10 million as milestones are met. This partnership strengthens Denbury's cumulative CO₂ service agreements to 20 million metric tons per year.

Denbury Inc. (NYSE: DEN) announced a 20-year agreement with Lake Charles Methanol (LCM) for CO₂ transportation and storage services related to LCM's upcoming blue methanol project in Lake Charles, Louisiana. The facility aims to produce 3.6 million metric tons of blue methanol annually while capturing 1 million metric tons of CO₂. The project, projected to cost $4 billion, will create approximately 200 permanent jobs and aims for first production by 2027, subject to final investment decision in 2023.

Denbury Inc. (NYSE: DEN) is set to release its Third Quarter 2022 financial results on November 3, 2022, before the market opens. A conference call will take place at 11:00 a.m. Central Time that same day, with details available on their Investor Relations page. Denbury focuses on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) across the Gulf Coast and Rocky Mountain regions, with a goal to offset its emissions by 2030.

Denbury Inc. (NYSE: DEN) announced that CEO Chris Kendall will present at the Barclays CEO Energy-Power Conference on September 6, 2022, at 2:25 p.m. ET. Management will engage in investor meetings, and supplemental materials will be available on the company's website. Denbury specializes in Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR), injecting over four million tons of industrial-sourced CO₂ annually. The company aims to offset all CO₂ emissions by 2030. More details and a live webcast will be accessible on their Investor Relations page.

Denbury Inc. (NYSE: DEN) announced a $100 million increase in its share repurchase program, raising the total to $350 million. In Q2 2022, Denbury reported cash flows from operations of $150 million and free cash flow of $55 million. The company executed a $100 million share buyback, repurchasing 3.2% of shares outstanding. Denbury ended Q2 with zero debt and $738 million in liquidity. The company is increasing its 2022 capital expenditures to $360 million, driven by service cost inflation and EOR development. Production guidance remains at 46,000 to 49,000 BOE/d.

Denbury Inc. (NYSE: DEN) published its seventh Corporate Responsibility Report, showcasing performance data for 2021. The report highlights efforts towards transparency, aligning with the Task Force on Climate-Related Financial Disclosures and Global Reporting Initiative Standards. Key achievements include:

• Net negative Scope 1 and Scope 2 CO₂e emissions.
• 3% reduction target for 2022 emissions.
• Verified negative carbon intensity of 'Blue Oil' production.
• Transported over 3.7 million metric tons of CO₂.
• 52% reduction in total recordable incidents.

Denbury Inc. (NYSE: DEN) has signed an agreement to lease approximately 18,000 acres near Donaldsonville, Louisiana for CO₂ sequestration, expanding its operations in the Gulf Coast region. The site is strategically located less than five miles from existing infrastructure and near a high concentration of industrial CO₂ emissions. Denbury aims to achieve first CO₂ injection as early as 2025, increasing total sequestration capacity to approximately 1.5 billion metric tons. The company’s proactive measures aim to confirm geological suitability and progress with EPA permitting.