Exploration & Production | People | People-Resignation | Capital Markets | Capital Expenditure
Denbury Cutting Spending by 50% in 2015
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Denbury Resources Inc. announced that senior management will discuss key elements of the Company's plans for 2015 at its annual analyst day on Tuesday, November 18. Among others, topics will include the following:
Reducing capital spending by 50% in 2015 to $550 million Targeting relatively flat production for 2015 Increasing annual dividend rate by 60% to $0.40 per share in 2015Denbury also announced that Craig McPherson, Senior Vice President and Chief Operating Officer, and Charlie Gibson, Senior Vice President -- Production Operations, have resigned from their positions as officers of the Company. McPherson's and Gibson's roles will be temporarily assumed by Phil Rykhoek, Denbury's President and Chief Executive Officer, as the Company conducts a search for their replacements.
Mr. Ry…
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