DENBURY RESOURCES INC. (NYSE:DNR) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure
press release announcing that it had entered into a definitive
agreement with certain subsidiaries of Linn Energy, Inc. to
acquire their 23% non-operating working interest in Salt Creek
Field in Wyoming for $71.5 million, subject to standard purchase
price adjustments for revenues and costs between the March 1,
2017 effective date and the closing date of the transaction. The
acquisition is expected to close in late June and is subject to
satisfactory completion of due diligence reviews and customary
closing conditions. The Company plans to initially fund the
acquisition with borrowings under its revolving credit facility.
Net production for the acquired interest is currently estimated
at 2,100 barrels of oil per day. A copy of the press release is
filed as Exhibit 99.1 hereto.
that Chris Kendall, the Companys President and Chief Operating
Officer, will make presentations at the Bank of America Merrill
Lynch 2017 Energy Credit Conference on Tuesday, June 6, 2017, at
8:50 a.m. Eastern Time and at the 2017 RBC Capital Markets Global
Energy and Power Executive Conference on Wednesday, June 7, 2017,
at 10:30 a.m. Eastern Time. The updated slides that will
accompany these conference presentations will be available in the
Investor Relations section of the Companys website at
www.denbury.com on June 5, 2017. A copy of the press release is
filed as Exhibit 99.2 hereto.
filed for purposes of the Securities Exchange Act of 1934, as
amended (the 1934 Act), and shall not be deemed incorporated by
reference in any filing with the Securities and Exchange
Commission, whether or not filed under the Securities Act of
1933, as amended, or the 1934 Act, regardless of any general
incorporation language in any such document.
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(d)
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Exhibits.
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provisions of Item 601 of Regulation S-K:
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Exhibit Number
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Description
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99.1*
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Denbury Press Release, dated May 30, 2017.
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99.2*
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Denbury Press Release, dated June 5, 2017.
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*
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Included herewith.
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About DENBURY RESOURCES INC. (NYSE:DNR)
Denbury Resources Inc. is an independent oil and natural gas company. The Company’s operations are focused on two operating areas: the Gulf Coast and Rocky Mountain regions. Its properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming. It has estimated proved oil and natural gas reserves of over 288.6 million barrels of oil equivalent (MMBOE). Its primary Gulf Coast carbon dioxide (CO2) source is Jackson Dome, which is located near Jackson, Mississippi. Its mature group of properties includes the initial CO2 field, Little Creek, as well as various other fields, including Brookhaven, Cranfield, Eucutta, Lockhart Crossing, Mallalieu, Martinville, McComb and Soso fields. Its LaBarge Field is located in southwestern Wyoming. It holds interest in LaBarge Field, which consists of over 1.2 trillion cubic feet of proved CO2 reserves.
