Denbury Struggles With Flood-Related Downtime, Misses Production Estimates
Denbury Resources delivered production from continuing operations of 60.7 thousand barrels of oil equivalent per day in the third quarter, which was 6% lower sequentially and well below our 65 mboe/d forecast. The sale during the quarter of non-core assets in the Williston Basin was responsible for 0.8 mboe/d of this decline, and additional downtime at the firm's Thompson and Conroe fields, which experienced storm damage and flooding in the second quarter and took longer than expected to repair,...Denbury Resources is an independent oil and natural gas company. The company's operations are focused in two main operating areas: the Gulf Coast and Rocky Mountain regions. The company's properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming.
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