Click A toto edit Different Click Master Kind edit title of Oil title style Company style Proven process Long-Term Lower-risk & long-life assets Visibility Tremendous resource potential Fund capex & dividends with cash flow…
Click Plan: 2015 Click toto edit Master Value edit title Focused title style style Reduced capital spending by 50% for 2015 to 550MM Planning to utilize liquidity to take advantage of potential opportunities Building…
Click toto Click Denbury editaMaster atedit titletitle Glance style style Total 3P Reserves (12/31/14) 1.2 BBOE % Oil Production (4Q14) 95% Total Daily Production BOE/d (4Q14) 74,875 Proved PV-10 (12/31/14) 94.99 NYMEX Oil Price…
Click is What Click toto edit CO Master 2 EORtitle edit title & How style Oil Does it Recover Much style Transport Inject Secure via into CO2 Supply Pipeline Oilfield Remaining Oil Primary CO2 EOR Delivers 20%…
ClickLower-48 U.S. Click toto edit Master editCO title 2 EOR title style Potential style Technically Recoverable(1,2) (amounts in billions of barrels) Permian 9-21 East & Central Texas 6-15 Mid-Continent 6-13 California 3-7…
Up to 16 Billion Gross Barrels Recoverable(1) Click toto Click edit Master edit title title style style in Our Two CO2 EOR Target Areas 2.8 to 6.6 MT ND Billion Barrels Estimated Recoverable in Rocky Mountain Region(2) WY…
CO 2 EOR Click to in Gulf edit Coast Master titleRegion: style Click to edit title style Control of CO2 Sources & Pipeline Infrastructure Provides a Strategic Advantage Tinsley(3) Summary(1) Delhi(3) 46 MMBbls 45 MMBOEs Tinsley…
CO 2 EOR Click to in Rocky edit MasterMountain title styleRegion: Click to edit title style Control of CO2 Sources & Pipeline Infrastructure Provides a Strategic Advantage CO2 Sources Summary(1) Existing or Proposed CO2 Source Cedar…
Click toto Continued Click edit Master Tertiary edit title Oil title style Production style Growth 45,000 41,873 Bbls/d 40,000 35,000 30,000 Bbls/d 25,000 20,000 15,000 10,000 5,000 0 2001 2002 2003…
Click CO toto edit 2 Supply Click Master to edit titletitle Support styleCoast Growth Gulf style 1,400 Additional CO2 Potential(1) (not reflected in graph) Probable & Possible Reserves: 1.7 TCF Improved Recovery of Proved…
ClickCoast Gulf Click toto edit Master titletitle Industrial edit style Partners style MS Power AL PCS Nitrogen Air Products Denbury Owned Fields Current CO2 Floods Denbury Owned Fields Future CO2 Floods Fields Owned…
Click Click CO toto edit 2 Supply Master edit to titletitle Support style Mountain Growth style Rocky LaBarge Area Estimated field size: 750 square miles Estimated 100 TCF of CO2 recoverable Riley Ridge Denbury Operated…
Click Operating Click High toto edit Master edit titletitle Margin (1)style style /BOE 3-Months ended 9/30/2014 70 96% Oil Production Drives Higher Margins 60 50 40 30 20 10 - Peer A DNR (2) Peer B Peer C Peer D…
Click toto Click Leading edit Master edit Capital title title style style Efficiency (1) 45 41.46 Adjusted 2-Year Finding & Development Cost (/BOE)(2) 40 35 34.20 30 26.59 25 23.70 21.46 20 19.24 16.82 16.40 15 10 5…
Click toAsset Click Unique edit to Master edit titletitle Structure styleto Other Independents style Relative Reserve life index(1) 1st year of decline rate by basin(2) Selected Companies (3) EOR Assets Non-EOR Assets DNR 22x…
Click toto Denburys Click edit Master Funding edit title style Priorities title style Maintain solid financial position Base dividend Additional (priority depends on circumstances) Capital expenditures Reduce debt…
Click Guidance 2015 Click toto edit Master edit titletitle (1) style style Capital Budget: 550 Million(2) Anticipated Dividends: 89 Million Tertiary Floods 320MM Estimated Production 2014 2015E Operating area (BOE/d)…
Click toto Dividend Click edit Master titletitle Philosophy edit style style Maintain solid financial position Goal is to have sustainable dividend that can grow with cash flow over time Fund both capital expenditures and…
Click toto Click Commodityedit Master edit Hedge title title style style Summary as of February 17, 2015(1) 2015 2016 1Q 2Q 3Q 4Q 1Q 2Q Crude Oil (WTI NYMEX Equivalent)(2)(3) Total Oil Volumes Hedged (Bbls/d) 58,000 58,000…
Click Maturity Debt Click toto edit Master edit titletitle Schedule style (1) style No Significant Near-Term Debt Maturities 12/31/13 12/31/14 Total Net Debt (MM) 3,285 3,548 TTM EBITDA(2) (MM) 1,403 1,386 Total Net Debt to TTM…
Click toto Click edit Leveraging Master edit titletitle Strengths style to Lower Oil Prices &style Adjusting We believe in our assets and strategy but know we can improve our operational efficiency: Innovation teams and other key…
Appendix
Clickis Click Why toto edit CO Master 2edit EOR ourtitle title style style core focus High Confidence of Oil Target Over 100 million barrels (gross) produced by Denbury to date CO2 Flooding Recovers Oil (CO2 s Crude Oil)…
Click Click CO toto 2 EOR edit aMaster isedit titletitle Proven style style Process Significant CO2 EOR Operators by Significant CO2 Suppliers by Region Region Gulf Coast Region Gulf Coast Region Jackson Dome, MS (Denbury…
Click Click CO toto edit Master edit 2 Operations: Oil title title style Process style Recovery CO2 PIPELINE - from Jackson Dome INJECTION WELL - Injects CO2 in dense phase PRODUCTION WELLS Produce oil, water and CO2 Oil…
Click toIndustry Click Actual edit to Master edit titletitle Recovery style styleCurves Range of Recovery 10%-18% Denbury.com NYSE: DNR 28
Click toCurves Click Actual edit to Master edit title title Denbury style style Mature Fields Range of Recovery 11%-20+% Denbury.com NYSE: DNR 29
Click Click CO toto 2 EOR edit Master edit titletitle Superior style style Production Profile Capital Spending per Projected Production Profile with Same Capital Spending Year Based on EOR Spending Pattern 12,000 Gulf Coast…
Click toto Click edit Production Master edit by titletitle Area style style (BOE/d) Operating area 2011 2012 2013 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 2014 2015E(1) Tertiary Oil Fields 30,959 35,206 38,477 39,057 38,752…
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