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Article: Denbury Resources Announces Third Quarter Results.(Financial report)
- Article from:
- Economics Week
- Article date:
- November 20, 2009
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Denbury Resources Inc. (NYSE: DNR) ("Denbury" or the "Company") announced its third quarter 2009 financial and operating results. The Company posted net income for the third quarter of 2009 of $26.9 million, or $0.11 per basic common share, as compared to net income of $157.5 million, or $0.64 per basic common share, in the comparative third quarter of 2008. The reduction in net income between the periods is primarily due to lower oil and natural gas commodity prices coupled with reduced natural gas production due to the sale of 60% of the Company's Barnett Shale natural gas assets in mid-2009, and a $108.4 million net decrease in the fair value changes in commodity ...