Denbury Inc. - DEN STOCK NEWS

Denbury Inc. (NYSE: DEN) announced that CEO Chris Kendall will present at the J.P. Morgan Energy, Power & Renewables Conference on June 22, 2022, at 1:45 p.m. ET. Management will also hold investor meetings, with supplemental materials available on their 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 all emissions by 2030. For more details, visit www.denbury.com.

Denbury Inc. and Nutrien Ltd. announced a new agreement for carbon capture and storage (CCUS) at Nutrien's Geismar, Louisiana facility. This initiative aims to support a clean ammonia project with an annual capacity of 1.2 million metric tons and capture about 1.8 million metric tons of CO₂. The agreement spans 12 years with options for two extensions. This partnership expands their long-term collaboration in reducing emissions, with Denbury's CO₂ storage potential exceeding 1.4 billion metric tons across multiple states.

Denbury reported strong first quarter 2022 results, with cash flows from operations at $90 million and adjusted cash flows rising 62% year-over-year to nearly $131 million. The company generated $51 million in free cash flow and commenced CO2 injection at its Cedar Creek Anticline project. Denbury also signed a new term sheet for CO2 transportation and authorized a $250 million share repurchase program. Despite a net loss of $872,000, total revenues increased by 64% to $412 million, driven by higher oil prices. The company maintains a solid financial position with $529 million in liquidity.

Denbury Inc. (NYSE: DEN) announced a share repurchase program, allowing the Company to buy back up to $250 million of its common stock, representing over 7% of its market capitalization. The decision reflects Denbury's disciplined capital allocation strategy and confidence in generating strong free cash flow while advancing its Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) initiatives. The timing and methods of repurchases will be determined by management, with no obligation to repurchase a specific number or dollar amount of shares.

Denbury Inc. (NYSE: DEN) will release its first quarter 2022 financial and operational results on May 5, 2022, before the market opens. A conference call is scheduled for 11:00 a.m. CT and will be accessible via their Investor Relations page. Denbury focuses on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR), injecting over four million tons of captured CO₂ annually. The company aims to offset all its CO₂ emissions this decade.

Biloxi Marsh Lands Corporation (BLMC) announced that its 2022 Annual Meeting of Shareholders will take place on May 11, 2022, at 10:30 a.m. in Metairie, Louisiana. The company has revealed its financial results for Q4 2021 and the full year ending December 31, 2021, which are available on its website. Additionally, effective March 9, 2022, BLMC entered into a significant long-term CO₂ Injection Agreement with Denbury Carbon Solutions, LLC, enabling the sequestration of CO₂ beneath its property in St. Bernard Parish, LA.

Denbury Inc. (NYSE: DEN) has signed three new lease agreements in Louisiana, expanding its rights for significant carbon dioxide (CO₂) sequestration projects. The primary site, covering 84,000 acres near New Orleans, can sequester over 500 million metric tons of CO₂, targeting emissions from nearby industrial sources. An additional pore space agreement increases potential storage capacity to over 220 million metric tons at a secondary site. Denbury's total CO₂ storage capacity now exceeds 1.4 billion metric tons, reinforcing its leadership in the carbon capture and storage sector.

Denbury Inc. (NYSE: DEN) has updated its progress in carbon capture, utilization, and storage (CCUS) through its Denbury Carbon Solutions division. The company aims to secure agreements for over 10 million metric tons of captured CO₂ emissions annually and establish storage sites with a capacity of at least 1.2 billion tons of CO₂ by the end of 2022. Key agreements include leasing pore space in Louisiana with a capacity for 150 million tons of CO₂ and collaborating with Infinium on ultra-low carbon fuels, highlighting Denbury's growth potential in the CCUS sector.

Denbury Inc. (NYSE: DEN) outlines a capital budget of $290 million to $320 million for oil and natural gas development in 2022, marking an increase from $252 million in 2021. Key investments include $115 million for the Cedar Creek Anticline EOR project and $190 million for other oil-focused initiatives. The company anticipates 2022 sales volumes of 46,000 to 49,000 barrels per day, with $50 million earmarked for carbon capture, utilization, and storage (CCUS) projects.