Overview Chris Kendall, President and Chief Executive Officer NYSE:DEN 3
Powering the Energy Transition With World-Leading Carbon Solutions 20+ years 1000+ miles Scope 3 Financial Strategic Experience of CO2 Carbon Strength and Focus Managing CO2 Pipelines Negative Flexibility By 2030 Leading in…
1Q21 Highlights A Strong Start to 2021 Free Cash Flow(1) 59 million; Adjusted EBITDAX(1) 82 million Approved Cedar Creek Anticline EOR and CO2 Pipeline Investment Successfully Completed Wind River Basin Asset Acquisition…
Carbon Capture, Use and Storage (CCUS) Overview CCUS both through CO2 EOR or direct CO2 injection is a proven technology with the potential for safe, long-term, deep underground containment of billions of tons of industrial-sourced CO2…
Massive Expansion in CCUS Required to Meet Global Targets Global Carbon Capture Required to Meet IEAs Sustainable The IEAs Sustainable Development Scenario Development Scenario (SDS) Total Carbon Capture outlines a carbon reduction…
Denbury Carbon Solutions Strategy Secure CO2 Transportation & Providing emitters with a full range of CO2 offtake services Storage Agreements Develop Portfolio Increasing scale, ensuring system reliability and adding flexibility…
Industry-Leading Gulf Coast CCUS Infrastructure Spanning the highly concentrated CO2 emissions corridor of the industrial Gulf Coast CO2 Emissions Transportation, Use & Storage 2.6 billion tons/year from stationary sources in the…
Financial Review Mark Allen, Executive Vice President & Chief Financial Officer NYSE:DEN 10
1Q21 Operating Margin and Production 1Q21 Operating Margin (/BOE)(1) Production (BOE/d) Production expected to step up in 2Q21 47% Cash Operating Margin(1) and remain relatively flat 2Q21 4Q21 Realized Price 55.24 47,500 51,500…
Adjusted Net Income Reconciliation of Net Loss (GAAP Measure) to Adjusted Net Income (Non-GAAP Measure)(1) 1Q21 4Q20 Per Diluted Per Diluted In millions, except per-share data Amount Share(2) Amount Share Net loss (GAAP measure) (70)…
Free Cash Flow Reconciliation of Cash Flows from Operations (GAAP Measure) to Adjusted Cash Flows from Operations (Non-GAAP Measure) and Free Cash Flow (Non-GAAP Measure) (1) In millions 1Q21 4Q20 Cash flows from operations (GAAP…
Debt Profile and Liquidity Leverage ratio of 0.4x as of March 31, 2021 Total Debt 483 million total liquidity (In millions) including unrestricted cash at March 31, 2021 176 Credit Facility Overview Sr. Secured Bank Credit Facility…
2021 Guidance As of May 5, 2021 1Q21 Actual 2021 Guidance Development Capital 20 million 250 270 million(1) full year Production 47,357 BOE/d 47,500 51,500 BOE/d full year Realized Oil Differentials (NYMEX) (1.54) per barrel (1.50)…
Operations Update David Sheppard, Senior Vice President Operations NYSE:DEN 17
1Q21 Development Capital & Cash Flow Range Capital (MM) Production (BOE/d) Production expected to step up in 2Q21 2021 Budget Capital and remain relatively flat 1Q21 250 270 MM(1) 2Q21 4Q21 20 Million 47,500 51,500 47,357 100 MM…
Acquisition of Wyoming Wind River Basin CO2 EOR Fields Supports Denburys CO2 EOR focused strategy, utilizing 100% industrial-sourced CO2 Beaver Creek / Big Sand Draw Oil Fields Transaction Highlights 10.7 million purchase price (after…
2021 Tertiary Capital - Oyster Bayou A1 Development Expansion Continues success from A2 Development Expansion project executed in 2020 2021 Future A1 Development Overview A1 Development Pattern Development A1 Development Expansion…
2021 Tertiary Capital Tinsley Perry CO2 Pilot 2021 pilot unlocks development target of 10 MMBbls Development Overview Current Future CO2 Flood New CO2 flood in Tinsley Future Perry Woodruff Perry Phase Targets high residual oil…
Cedar Creek Anticline A World Class CO2 EOR Project 400 MMBbl total recovery potential using 100% industrial-sourced CO2 Est. 5 Billion Bbls OOIP CO2 Pipeline to CCA from Bell Creek 175,000 net acres Plan to install in 2H 2021; 100 MM…
CCA EOR A Scope 3 Carbon Negative Development Phases 1 & 2 will collectively store 85 million metric tons of industrial-sourced CO2 Additional Development Details Phase 1 incremental peak production Estimated Production Profile…
Appendix NYSE:DEN 24
Average Daily Production by Area Average Daily Production by Area (BOE/d) Production (BOE/d) Field 1Q21 4Q20 3Q20 2Q20 Production expected to step up in 2Q21 Delhi 2,925 3,132 3,208 3,529 and remain relatively flat 2Q21 4Q21…
Operating Cost Summary 2021 LOE Guidance 22 24/BOE Correlation with 1Q21 4Q20 1Q20 LOE Cost Type Oil Price (MM) (/BOE) (MM) (/BOE) (MM) (/BOE) CO2 Costs High 13 3.14 13 2.80 15 2.98 Power & Fuel(1) Moderate 16 3.87 30 6.61 33…
Non-GAAP Measures Reconciliation of net income (loss) (GAAP measure) to adjusted EBITDAX (non-GAAP measure) 2020 2021 Combined Combined Combined Predecessor (non-GAAP)(1) Successor (non-GAAP)(1) Successor (non-GAAP)(1) In millions…
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