DEN - Denbury Non-GAAP EPS of $1.06 misses by $0.25 revenue of $328.98M misses by $11.46M
2023-08-03 16:40:11 ET
- Denbury press release ( NYSE: DEN ): Q2 Non-GAAP EPS of $1.06 misses by $0.25 .
- Revenue of $328.98M (-31.8% Y/Y) misses by $11.46M .
- Commenced Enhanced Oil Recovery (“EOR”) production at the Cedar Creek Anticline (“CCA”) tertiary project, with second quarter tertiary production at CCA averaging 574 Bbl/d.
- Added four dedicated CO 2 sequestration sites to the Company’s portfolio, including one in Texas, two in Louisiana, and one in Wyoming. In addition, executed agreement to transport and sequester 1 million metric tons of CO 2 per year for a blue methanol project in Louisiana.
- Outlook: As a result of the Company’s pending merger with ExxonMobil, Denbury’s prior guidance should no longer be relied upon.
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Denbury Non-GAAP EPS of $1.06 misses by $0.25, revenue of $328.98M misses by $11.46M