Exploration & Production | Quarterly / Earnings Reports
Denbury Ups Oil Heavy Production to 74,052 BOE/d
Print
|
Denbury Resources Inc. reported adjusted net income of $151 million for the second quarter of 2013, or $0.41 per diluted share.
Second quarter of 2013 net income was $130 million, or $0.35 per diluted share, on record high quarterly revenues of $645 million. Adjusted net income for the second quarter of 2013 differs from GAAP net income primarily due to $70 million of pre-tax lease operating expenses related to the Denbury-operated Delhi Field partially offset by a pre-tax gain of $46 million associated with non-cash fair value changes in Denbury's commodity derivative contracts.
Sequential and year-over-year comparisons of selected financial items are shown in the following table:
Adjusting for the impact of non-cash derivative fair value changes and non-recurring items, the…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations