DEN - Denbury: Positive Cash Flow Could Reach $250 Million In 2022 At $60 Oil
- Denbury added more 2022 hedges and now has around 40% of its 2022 oil production hedged with a swap/ceiling price in the mid-$50s.
- Cedar Creek Anticline capex requirements may go down from around $150 million in 2021 to $60 million in 2022.
- This could result in Denbury generating close to $250 million in positive cash flow at $60 WTI oil in 2022, although that depends on its other capex plans.
- Carbon capture and storage business may add incremental revenue in a couple years.
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Denbury: Positive Cash Flow Could Reach $250 Million In 2022 At $60 Oil