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3Q 2022 Earnings Presentation – Denbury Inc.

Denbury Inc. · Nov 4, 2022 · 19 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. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 1
    3Q22 Earnings Supplement November 3, 2022
  2. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 2
    Powering the Energy Transition With World-Leading Carbon Solutions ROCKY MOUNTAIN REGION Strategic Focus Market Cap: 4.5B Leading in Carbon Capture, Use and Enterprise Value: 4.5B Storage, including Enhanced Oil Recovery YE21 Proved…
  3. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 3
    3Q 2022 DEN Highlights Financial Operations Carbon Solutions 3Q22 Net cash flows from Delivered sales volumes of Signed definitive agreement operations 156 MM; Adjusted 47,109 BOE/d; better than to transport and store 12 cash flows…
  4. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 4
    2022 Oil & Gas Development Capital and Sales Volumes Capital (MM) Sales Volumes (MBOE/d) 2022 Expected Capital 4Q22 Expected 360 MM 3Q22 YTD Capital 47.5 49 MBOE/d 243 Million 46.9 47.1 46.5 1Q22 CCA CO2 EOR CO2 recycle…
  5. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 5
    Rocky Mountain Region 3Q22 Highlights 4Q22 Activity Beaver Creek positive results Cedar Creek Anticline continued from E/F reservoir development EOR development including install with optimization of Wind River of CO2 recycle…
  6. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 6
    Gulf Coast Region 3Q22 Highlights 4Q22 Activity Soso higher than anticipated Webster drilling multiple production response from horizontal producers in the Frio Rodessa reservoir CO2 flood reservoir development Oyster Bayou completion…
  7. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 7
    World-Class CCA EOR Development Project on Track for Expected Production 2H23 Largest potential EOR resource for DEN (400 MMBbl recoverable) utilizing 100% industrial-sourced CO2 Commenced CO2 injection in phase 1 at CCA on…
  8. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 8
    Industry-Leading Gulf Coast CCUS Infrastructure Existing CO2 Emissions(1) Jackson Dome CO2 Transport, Storage, and Utilization 2.6 billion tons/year from stationary sources in the U.S. Signed agreements covering 20 230 Mmtpa (10%…
  9. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 9
    20 MMTPA - Surpassed 2022 Goal for CO2 Agreements by 100% Newly Signed Agreements in the Quarter DEN Announced Contracts Emissions Signed in Previous Quarters Equivalent to 50% of CO2 Emissions 19 20 Current Global CO2 Capture…
  10. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 10
    Sequestration Sites Spudding Stratigraphic Test Well in 4Q22 (1) GCMP (2) Donaldsonville (3) Donaldsonville (4) New Orleans (5) Mobile Potential Storage Capacity 400 80 220 500 300 (million metric tons) Regional Emissions (Mmtpa) 80…
  11. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 11
    45Q Revisions Significantly Increase CCUS Opportunity Inflation Reduction Act(1) 45Q Enhancements Global Carbon Capture Required to Meet Goldman Sachs 1.5oC Incentive Increased by 70% Net Zero by 2050 Scenario Previous New Total…
  12. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 12
    2022 Guidance As of November 3, 2022 Current Guidance YTD 9/30 Commentary Oil & Gas Development Capital 360 million 243 million Excludes 10 MM equity investment in blue CCUS Capital 50 million 32 million ammonia complex 4Q expected…
  13. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 13
    Appendix NYSE:DEN 14
  14. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 14
    Average Daily Sales Volumes by Area Average Daily Sales Volumes by Area (BOE/d) Sales Volumes (MBOE/d) Field 3Q22 2Q22 1Q22 4Q21 3Q21 4Q22 Expected Delhi 2,557 2,478 2,675 2,731 2,859 47.5 49 MBOE/d Hastings 4,211 4,304 4,430 4,212…
  15. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 15
    NYMEX Oil Differential Summary NYMEX Oil Differentials per barrel 3Q22 2Q22 1Q22 4Q21 3Q21 2Q21 1Q21 2021 2020 Gulf Coast region 0.66 0.16 (1.37) (1.41) (1.77) (1.13) (1.37) (1.42) (1.14) Rocky Mountain region 1.02 0.01 (1.38)…
  16. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 16
    Operating Cost Summary Operating Cost Summary 3Q22 2Q22 3Q21 Correlation with LOE Cost Type Commodity Price (MM) (/BOE) (MM) (/BOE) (MM) (/BOE) CO2 Costs High 17 4.01 21 4.97 18 3.99 Power & Fuel High 44 10.07 38 9.16 34 7.52…
  17. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 17
    Commodity Hedge Position As of 11/3/22 NYMEX Oil Hedges 2022 2023 4Q 1H 2H Fixed-Price Volumes Hedged (Bbls/d) 9,500 8,500 9,000 Swaps Swap Price(1) 57.52 75.84 77.60 Volumes Hedged (Bbls/d) 11,500 17,500 9,000 Collars Floor…
  18. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 18
    Cash Flows from Operations/Free Cash Flow Reconciliation 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 3Q22…
  19. 3Q 2022 Earnings Presentation – Denbury Inc. – slide 19
    Net Income / Adjusted Net Income Reconciliation Reconciliation of Net Income (GAAP Measure) to Adjusted Net Income (Non-GAAP Measure)(1) 3Q22 YTD22 Per Diluted Per Diluted In millions, except per-share data Amount Share Amount Share…

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