Skip to main content Q3 2016 Earnings Presentation – Denbury Resources Inc. | Shale Experts
Loading...
Pm

Q3 2016 Earnings Presentation – Denbury Resources Inc.

Denbury Resources Inc. · Nov 3, 2016 · 21 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 1
    3rd Quarter 2016 Earnings Presentation November 3, 2016 NYSE:DNR NYSE:DNR
  2. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 2
    Agenda Introduction John Mayer, Investor Relations Overall review and outlook Phil Rykhoek, Chief Executive Officer Financial review Mark Allen, Chief Financial Officer Operational review Chris Kendall, President and Chief…
  3. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 3
    Overview Phil Rykhoek
  4. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 4
    Core Focus for 2016 Improvement in Cash Costs Value Creation 56 million received in non-core asset sales Includes cash Revised joint venture to accelerate Grieve Field 42.81 lifting costs, G&A Revamping field development plans and…
  5. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 5
    Financial Overview Mark Allen
  6. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 6
    Reconciliation of Adjusted Net Income(1) f Reconciliation of Net Loss (GAAP Measure) to Adjusted Net Income (Non-GAAP Measure)(1) In millions, except per-share data 3Q16 2Q16 Net loss (GAAP measure) (25) (381) Adjustments to…
  7. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 7
    3Q16 Selected Financial Highlights Selected Financial Highlights In millions, except per-unit data 3Q16 2Q16 Cash flows from operations (GAAP measure) 96 61 Net change in assets and liabilities relating to operations (34) 32…
  8. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 8
    NYMEX Oil Differential Summary NYMEX Oil Differentials per barrel 3Q16 2Q16 Tertiary oil fields (0.92) (1.10) Gulf Coast region (0.82) (0.98) Rocky Mountain region (2.01) (2.43) Cedar Creek Anticline (2.90) (3.77) Denbury totals…
  9. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 9
    Selected Expense Line Items 3Q16 2Q16 Expenses (MM) (/BOE) (MM) (/BOE) Lease operating expenses(1) 107 18.82 100 17.04 General and administrative expenses 25 4.35 23 3.84 Interest expense (net of amounts capitalized)(2) 25 4.38…
  10. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 10
    Oil Hedge Protection Detail as of November 2, 2016 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 WTI NYMEX Volumes Hedged (Bbls/d) 18,500 26,000 22,000 22,000 Swaps Fixed-Price Swaps Swap Price(1) 38.96 38.70 42.67 43.99 Argus LLS Volumes…
  11. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 11
    Ample Liquidity & Significant Debt Reductions Ample Liquidity & No Near-Term Maturities(1) Bank Credit Facility: Borrowing Base In millions 1,050 715 million in liquidity Undrawn & Available 773 as of 9/30/16 615 622 Basket for 1…
  12. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 12
    1Q16-3Q16 Change in Bank Credit Facility (In millions) 350 Adjusted Cash Flow(1) 211 300 CapEx(2) (176) 275 - 300 250 Total 35 (32) 260 200 (67) 150 175 35 (77) 56 100 50 0 YE2015 Adjusted Proceeds Note Changes in…
  13. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 13
    Operational Overview Chris Kendall
  14. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 14
    Total Production by Field Average Daily Production (BOE/d) Field 3Q16 2Q16 3Q15 YTD 2016 Mature properties(1) 8,653 9,415 10,946 9,242 Delhi 4,262 3,996 3,676 4,077 Hastings 4,729 4,972 5,114 4,922 Heidelberg 5,000 5,246 5,600…
  15. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 15
    Breakdown of Total Operating Costs Total Operating Costs 3Q16 2Q16 3Q15 YTD 2016 YTD 2015 (MM) (/BOE) (MM) (/BOE) (MM) (/BOE) (MM) (/BOE) (MM) (/BOE) CO2 Costs 12 2.17 13 2.13 14 2.17 37 2.09 53 2.64 Power & Fuel 31 5.39 29 5.02 38 5.77…
  16. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 16
    Sustained Improvement in CO2 Efficiency 1,200 Total Company Injected Volumes (MMcf/d) 1,000 979 53% 35% REDUCTION SINCE 1Q15 REDUCTION YTD 762 800 678 705 634 600 82% Jackson Dome CO2 459 458 400 78% 200 18%…
  17. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 17
    Delhi NGL Plant Nearing Completion Plant startup expected by the end of 2016 Will extract NGLs from our gas stream to be sold separately Will improve the Delhi flood with a purer CO2 recycle stream Will self-generate power using…
  18. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 18
    Q&A
  19. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 19
    Appendix
  20. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 20
    Debt Structure Total Debt Principal Reduction YTD 562 million Open-Market Open-Market Debt Debt Debt Debt ( in millions) 12/31/2015 Purchases Other Exchanges(1) 6/30/2016 Purchases Other 9/30/2016 Senior Secured Bank Credit…
  21. Q3 2016 Earnings Presentation – Denbury Resources Inc. – slide 21
    Non-GAAP Measures Adjusted Net Income Adjusted net income is a non-GAAP measure provided as a supplement to present an alternative net income measure which excludes expense and income items (and their related tax effects) not directly…

From the store

Browse maps, data & reports in the Shale Experts store