Denbury Resources Responds to Fraudulent Press Release

Rhea-AI Summary

Denbury Resources Inc. (NYSE: DNR) has confirmed that a press release about a fraudulent acquisition proposal was not issued by the Company. The Company has reported this fraudulent activity to the New York Stock Exchange. Denbury focuses on oil and natural gas operations, primarily in the Gulf Coast and Rocky Mountain regions. The Company aims to enhance property value through strategic exploitation and drilling, with a significant emphasis on carbon dioxide enhanced oil recovery (CO2 EOR) operations.

Positive

• Denbury has taken proactive measures by reporting the fraudulent acquisition proposal to the New York Stock Exchange.
• The Company continues to focus on core operations in the Gulf Coast and Rocky Mountain regions, aimed at increasing property value.

Negative

• The emergence of a fraudulent acquisition proposal may create temporary uncertainty among investors.

PLANO, Texas, July 20, 2020 (GLOBE NEWSWIRE) -- Denbury Resources Inc. (NYSE: DNR) (“Denbury” or the “Company”) today confirmed that a press release issued earlier today regarding a purported acquisition proposal for Denbury was fraudulent and not issued by the Company.  The Company has received no such proposal and has reported the fraudulent activity to the New York Stock Exchange.

ABOUT DENBURY RESOURCES

Denbury 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.

FAQ

What did Denbury Resources confirm regarding a fraudulent acquisition proposal?

Denbury confirmed that a press release about a fraudulent acquisition proposal was not issued by the Company.

What did Denbury do about the fraudulent acquisition proposal?

Denbury reported the fraudulent activity to the New York Stock Exchange.

What are Denbury Resources' key operational areas?

Denbury operates mainly in the Gulf Coast and Rocky Mountain regions.

What is Denbury's focus in their operations?

Denbury focuses on increasing the value of its properties primarily through carbon dioxide enhanced oil recovery (CO2 EOR) operations.