Denbury Tags Reserves of 409MM BOE at Year-End
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Denbury Resources Inc. has reported that its total estimated proved oil and natural gas reserves at December 31, 2012 were 409 million barrels of oil equivalent (MMBOE), consisting of 329 million barrels of crude oil, condensate and natural gas liquids, and 482 billion cubic feet (80 MMBOE) of natural gas.
Reserves were 80% liquids and 60% proved developed, and 49% of such reserves were attributable to Denbury's carbon dioxide enhanced oil recovery (CO2 EOR or tertiary) operations. Nearly all of Denbury's reserves not attributable to CO2 EOR operations at year-end 2012 relate to planned future CO2 EOR operations. Also, year-end 2012 proved reserve estimates do not include the estimated 42 MMBOE of proved reserves associated with Denbury's pending acquisition of property interests in the…
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