DEN - Denbury Non-GAAP EPS of $1.36 misses by $0.02 revenue of $341.02M beats by $4.81M
2023-05-03 16:32:37 ET
- rqamDenbury press release ( NYSE: DEN ): Q1 Non-GAAP EPS of $1.36 misses by $0.02 .
- Revenue of $341.02M (-17.2% Y/Y) beats by $4.81M .
- Ended the first quarter with $68 million borrowed on the Company’s bank credit facility and $672 million of financial liquidity.
- Commissioned the first CO 2 recycle facility at the Cedar Creek Anticline Enhanced Oil Recovery (“EOR”) project in March 2023; initial EOR production expected in 2Q23.
- Drilled first stratigraphic test well in the Orion CO 2 sequestration site in Alabama. Subsequent to quarter-end, Denbury expanded its dedicated CO 2 storage portfolio with the addition of a 30,000-acre site in Texas, southwest of Houstond
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Denbury Non-GAAP EPS of $1.36 misses by $0.02, revenue of $341.02M beats by $4.81M