Denbury Resources is a leading CO2 enhanced oil recovery company with over 1 billion barrels of potential oil reserves. It has significant scale with $8.7 billion in enterprise value and 72,337 barrels of oil equivalent per day in production. Denbury utilizes CO2 flooding to increase oil recovery from mature oil fields. It has over 1,000 miles of CO2 pipelines and access to secure CO2 supplies. The company aims to grow production at a 13-15% compound annual rate through 2020 by developing its large portfolio of oil fields suitable for CO2 enhanced oil recovery.
Denbury Resources is a leading CO2 enhanced oil recovery company with significant oil reserves and production. It has over 1 billion barrels of potential oil reserves recoverable through CO2 EOR across its Gulf Coast and Rocky Mountain regions. Denbury has extensive CO2 pipeline infrastructure and secure long-term supplies of CO2, positioning it for sustainable production and reserve growth through CO2 flooding. It aims to deliver high operating margins and capital efficiency through its EOR operations.
Denbury Resources is a leading CO2 enhanced oil recovery company with over 1 billion barrels of potential oil reserves. It has significant infrastructure in place including extensive CO2 pipelines and secure CO2 supply. Denbury has a proven track record of growth, having achieved a 30% compound annual growth rate in EOR production over the past 12 years. It also has opportunities for further sustainable growth through CO2 EOR projects, its Bakken acreage position, and natural gas assets with associated CO2 reserves.
Denbury Resources is a leading CO2 enhanced oil recovery company with significant oil reserves and infrastructure. It has over 1 billion barrels of potential oil reserves through its Gulf Coast and Rocky Mountain regions. Denbury utilizes CO2 flooding to increase oil recovery from mature oil fields. It has a unique strategic advantage through its control of large CO2 sources and pipeline networks. Denbury has demonstrated a proven track record of production and reserve growth through CO2 EOR over the past decades.
Denbury Resources is a leading CO2 enhanced oil recovery (EOR) company in the United States with over $9 billion in enterprise value. It produces over 71,000 barrels of oil equivalent per day, has high operating margins, and has experienced 30% annual production growth over the past 12 years through EOR. Denbury has over 1 billion barrels of potential oil reserves accessible through its existing CO2 infrastructure network across two regions, and plans to sustain 13-15% annual growth through 2020.
Denbury Resources is a leading CO2 enhanced oil recovery (EOR) company in the US with unique advantages. It has over 1 billion barrels of potential oil reserves recoverable through EOR using CO2, with infrastructure in place to access secure CO2 supplies. Denbury has achieved 30% compound annual growth in EOR production over 12 years through its scale, performance, and platform. It aims to sustainably grow EOR production 13-15% annually through 2020.
Denbury Resources is a leading CO2 enhanced oil recovery (EOR) company in the US with unique advantages. It has over 1 billion barrels of potential oil reserves recoverable through EOR using CO2, with infrastructure in place to access secure CO2 supplies. Denbury has achieved 30% compound annual growth in EOR production over 12 years through its scale, performance, and platform. It aims to sustainably grow EOR production 13-15% annually through 2020.
Denbury Resources is an oil and gas company focused on CO2 enhanced oil recovery. It has over 1 billion barrels of potential oil reserves recoverable through EOR across its Gulf Coast and Rockies regions. Denbury also has a third growth platform in the Bakken area with over 200,000 net acres and estimated total potential of over 300 million barrels of oil. The company has achieved a 30% compound annual growth rate in EOR production over the last 12 years and expects to continue sustainable growth of 13-15% through 2020. Denbury has secure sources of CO2 to support ongoing EOR projects and potential reserves could be significantly increased through additional CO2 flooding.
Denbury Resources is an oil and gas company focused on enhanced oil recovery using carbon dioxide flooding. It presented information on its operations including:
- Producing over 71,000 barrels of oil equivalent per day with over 90% from oil.
- Having over 1 billion barrels of potential oil reserves recoverable through EOR across its Gulf Coast and Rockies regions.
- Controlling significant CO2 reserves and pipeline infrastructure that provide a strategic advantage for its EOR operations.
- Having a track record of 30% compound annual growth in EOR production over the last 12 years and projecting continued sustainable growth through EOR.
The presentation provided details on Denbury's asset base, reserves, production
Denbury Resources is a leading CO2 enhanced oil recovery company with significant oil reserves and production. It has over 1 billion barrels of potential oil reserves recoverable through CO2 EOR across its Gulf Coast and Rocky Mountain regions. Denbury has extensive CO2 pipeline infrastructure and secure long-term supplies of CO2, positioning it for sustainable production and reserve growth through CO2 flooding. It aims to deliver high operating margins and capital efficiency through its EOR operations.
Denbury Resources is a leading CO2 enhanced oil recovery company with over 1 billion barrels of potential oil reserves. It has significant infrastructure in place including extensive CO2 pipelines and secure CO2 supply. Denbury has a proven track record of growth, having achieved a 30% compound annual growth rate in EOR production over the past 12 years. It also has opportunities for further sustainable growth through CO2 EOR projects, its Bakken acreage position, and natural gas assets with associated CO2 reserves.
Denbury Resources is a leading CO2 enhanced oil recovery company with significant oil reserves and infrastructure. It has over 1 billion barrels of potential oil reserves through its Gulf Coast and Rocky Mountain regions. Denbury utilizes CO2 flooding to increase oil recovery from mature oil fields. It has a unique strategic advantage through its control of large CO2 sources and pipeline networks. Denbury has demonstrated a proven track record of production and reserve growth through CO2 EOR over the past decades.
Denbury Resources is a leading CO2 enhanced oil recovery (EOR) company in the United States with over $9 billion in enterprise value. It produces over 71,000 barrels of oil equivalent per day, has high operating margins, and has experienced 30% annual production growth over the past 12 years through EOR. Denbury has over 1 billion barrels of potential oil reserves accessible through its existing CO2 infrastructure network across two regions, and plans to sustain 13-15% annual growth through 2020.
Denbury Resources is a leading CO2 enhanced oil recovery (EOR) company in the US with unique advantages. It has over 1 billion barrels of potential oil reserves recoverable through EOR using CO2, with infrastructure in place to access secure CO2 supplies. Denbury has achieved 30% compound annual growth in EOR production over 12 years through its scale, performance, and platform. It aims to sustainably grow EOR production 13-15% annually through 2020.
Denbury Resources is a leading CO2 enhanced oil recovery (EOR) company in the US with unique advantages. It has over 1 billion barrels of potential oil reserves recoverable through EOR using CO2, with infrastructure in place to access secure CO2 supplies. Denbury has achieved 30% compound annual growth in EOR production over 12 years through its scale, performance, and platform. It aims to sustainably grow EOR production 13-15% annually through 2020.
Denbury Resources is an oil and gas company focused on CO2 enhanced oil recovery. It has over 1 billion barrels of potential oil reserves recoverable through EOR across its Gulf Coast and Rockies regions. Denbury also has a third growth platform in the Bakken area with over 200,000 net acres and estimated total potential of over 300 million barrels of oil. The company has achieved a 30% compound annual growth rate in EOR production over the last 12 years and expects to continue sustainable growth of 13-15% through 2020. Denbury has secure sources of CO2 to support ongoing EOR projects and potential reserves could be significantly increased through additional CO2 flooding.
Denbury Resources is an oil and gas company focused on enhanced oil recovery using carbon dioxide flooding. It presented information on its operations including:
- Producing over 71,000 barrels of oil equivalent per day with over 90% from oil.
- Having over 1 billion barrels of potential oil reserves recoverable through EOR across its Gulf Coast and Rockies regions.
- Controlling significant CO2 reserves and pipeline infrastructure that provide a strategic advantage for its EOR operations.
- Having a track record of 30% compound annual growth in EOR production over the last 12 years and projecting continued sustainable growth through EOR.
The presentation provided details on Denbury's asset base, reserves, production
September Corporate Presentation Bakken TransactionDenbury
Denbury Resources is a leading CO2 enhanced oil recovery (EOR) company in the US with over $8.9 billion in enterprise value. It has significant oil reserves that can be recovered through EOR using CO2, with over 1 billion barrels of potential oil reserves. Denbury utilizes infrastructure like pipelines to transport CO2 to oil fields for injection and extraction. It aims for sustainable growth of 13-15% annually through 2020 using its EOR platform and expertise.
This corporate presentation from Denbury Resources outlines their business model of using carbon dioxide (CO2) enhanced oil recovery (EOR) to extract oil from mature oil fields. Denbury has over 1 billion barrels of potential oil reserves recoverable through CO2 EOR across their two key regions. Their strategy relies on strategic CO2 supply from pipelines over 1,100 miles long and a large inventory of oil fields. They expect a decade of low teens annual production growth through repeating their successful CO2 EOR process across multiple fields.
Tim Bertels - The Quest CCS project Canada - Presentation at the Global CCS I...Global CCS Institute
The document summarizes Shell's Quest Carbon Capture & Storage Project in Alberta, Canada. It discusses (1) Shell's response to reducing CO2 emissions through natural gas, biofuels, carbon capture & storage, and energy efficiency; (2) Shell's involvement in various CCS projects worldwide; and (3) provides an overview of the Quest project which will capture over 1 million tonnes of CO2 per year from an oil sands upgrader and transport it via pipeline for storage in deep saline aquifers.
2008 annual report for Phoenix Coal (TSX: PHC), a company engaged in the exploration, production, acquisition and sale of coal from the Illinois Basin. The current mining operations and near-term development projects of the Company are located
in Western Kentucky, an area that comprises a part of the Illinois Basin.
The document summarizes a presentation by John Foran of Natural Resources Canada on shale gas development in Canada. It outlines Canada's energy policy framework, jurisdiction over energy resources, NRCan's role, Canada's large shale gas resources, and public concerns regarding shale gas development, particularly around water usage and potential contamination, greenhouse gas emissions, and induced seismicity. It also discusses NRCan's research addressing these concerns.
CCS Assessment in the Philippines - Carlo Arcilla and Raymond TanGlobal CCS Institute
This presentation was given as part of the CCS Ready workshop which was held in association with the 6th Asia Clean Energy Forum (20 – 24 June, Manila)
The workshop discussed the range of measures and best practices that can be implemented to prompt the design, permitting and construction of CCS projects when designing or building a new fossil fuelled energy or industrial plant.
The workshop hosted participants of the Asian Development Banks’ Regional Technical Assistance Program who updated the group on the outcomes of their individual projects.
This presentation provides an update on the current project being undertaken under the Asian Development Bank’s Regional Technical Assistance Program which aims to conduct an analysis of the potential for CCS, culminating in a road map for a CCS demonstration project in the Philippines.
2Co Energy - Don Valley Power Project - Securing Energy Supporting Growth – D...Global CCS Institute
As a part of the Institute's strategic focus on assisting CCS projects through knowledge sharing, three North American roadshow events will help the industry share project experiences and knowledge about CCS. Taking place in the US and Canada, the three events include:
• Austin, Texas on November 8, 2011;
• Calgary, Canada on 10 November, 2011; and
• Washington, D.C. on 19 January, 2012.
The first roadshow focused on sharing project experiences and knowledge from the projects in North America but also brought in projects from Europe (Don valley) and Australia (Callide) so that regionally diverse experiences could be shared amongst a global audience.
Attendance at the event was around 30 to 35 which allowed open and frank discussions around technical, management, and regulatory issues and how these challenges can impact on a project’s advancement and decision making processes.
Summit Power – Texas Clean Energy Project: A PolyGen Facility with 90% CO2 Ca...Global CCS Institute
The Texas Clean Energy Project (TCEP) is a proposed 400 MW integrated gasification combined cycle (IGCC) power plant with 90% carbon capture located in Odessa, Texas. It will use coal gasification and carbon capture technology to generate electricity while capturing approximately 2.5 million tons per year of carbon dioxide. Additional products will include urea fertilizer and argon gas. The $2.2 billion project aims to demonstrate large-scale carbon capture and storage while creating jobs and supporting US energy security through low-carbon energy sources.
Where to from here? Oil & Gas Investor article by Bettina Pierre-Gillesbettinapg
1) Drilling for coalbed methane in Alberta's Horseshoe Canyon and Mannville formations is increasing as operators shift to more horizontal wells.
2) The Horseshoe Canyon is the only commercial coalbed methane play in Canada so far, with over 2,700 wells producing around 150,000 cubic feet per day on average.
3) The Mannville formation has potential but is not yet commercial due to water production challenges; some operators are exploring horizontal drilling to potentially unlock more gas at faster rates.
Impacts of Hydrology and Habitat Changes on the Primary Production of the Ton...tacochrane
Arias, M.E., Cochrane, T.A., Piman, T. and Kummu M. (2012) Impacts of hydrology and habitat changes on the primary production of Southeast Asia's largest lake. IWA (International Water Association) World Congress on Water, Climate and Energy. Dublin, Ireland, 13-18 May 2012.
Germany's decision to phase out nuclear power over the next 11 years will impact carbon prices in the EU. The newsletter discusses various carbon market highlights including an increase in new CDM projects and issuance of CERs in May. It also provides updates on VER and CER prices globally and previews upcoming carbon events.
This document discusses carbon dioxide (CO2) storage. It begins by outlining the key aspects of finding suitable geological storage sites, including injectivity, storage capacity, and containment. It emphasizes the importance of selecting sites that minimize risk. The document then discusses techniques for modeling and measuring storage sites to reduce uncertainty. It provides examples of potential storage options like depleted oil/gas fields and deep saline formations. It also notes that CO2 will be in a dense liquid state at the depths of storage. The document concludes by discussing challenges around wellbore integrity and regulation for CO2 injection wells.
The document summarizes opportunities for carbon finance projects in countries belonging to the Regional Center for Renewable Energy and Energy Efficiency (RCREEE). It finds significant potential for emission reductions through renewable energy and energy efficiency projects. Specifically:
1) Many countries have 4-10 projects that could be registered under the Clean Development Mechanism before 2012, including wind, hydro, waste and efficiency projects.
2) Countries' total emission reduction potentials from 2009-2030 range from around 20-100 million tons of CO2 equivalent primarily from energy sector projects.
3) Promising areas for Nationally Appropriate Mitigation Actions (NAMAs) were identified in energy efficiency and renewables in Tunisia,
1) Clean coal use has tripled as regulated emissions have declined over 80%, providing a path to near-zero emissions through technologies like carbon capture and storage.
2) Studies show that achieving climate goals would cost 40% more without carbon capture and storage, which can reduce costs of meeting emissions targets by 15-50% compared to other low-carbon options like nuclear and renewable energy.
3) Major carbon capture and storage projects are accelerating around the world, with plans for 10 commercial demonstration projects in the US by 2016 called for by the Secretary of Energy to advance the technology.
Rick Van Nieuwenhuyse (President & CEO) presented at the NovaGold SGM re: NovaCopper spin-out. Over 99% of the votes cast were in favour of the spin-out.
The document discusses Aldridge Minerals and its Yenipazar gold-silver project in Turkey. Some key points:
- Yenipazar has an open-pittable resource of over 24 million tonnes averaging 1.09 g/t gold and 33.8 g/t silver.
- A preliminary economic assessment showed the project could have a 23.2% IRR and US$209 million NPV at current metal prices.
- Further metallurgical testing and potential increased recoveries could substantially increase the project's estimated value.
Reg Nelson Beach Energy- Resources & Energy Symposium 2012Symposium
This document provides an overview of Beach Energy Limited's presentation at the 2012 Resource and Energy Symposium in Broken Hill. The presentation discusses South Australia's strong historical ties to the resources sector due to areas like Broken Hill. It notes that South Australia is experiencing a resurgence in exploration driven by various state initiatives. The presentation advocates for natural gas as an important future energy source for South Australia and Australia more broadly. It outlines Beach Energy's identification of shale gas opportunities in Australia, with an initial focus on exploring shale potential in the Cooper Basin.
This corporate presentation by Denbury Resources provides an overview of the company and its operations. It summarizes that Denbury is a leading CO2 enhanced oil recovery company in the US with over $10 billion in enterprise value and 67,234 barrels of oil equivalent per day in production. It also outlines Denbury's secured CO2 supply, pipeline infrastructure, oil reserves of over 1 billion barrels, and projected sustainable growth rate of 13-15% through 2020.
The document discusses enhanced oil recovery (EOR) using carbon dioxide injection to access large untapped domestic oil resources in the United States. It states that EOR using CO2 has the potential to produce more than four times America's proven oil reserves, or up to 10 years of national oil consumption. However, without policies to reduce CO2 emissions, the limited supply of CO2 will prevent most of this stranded oil from being recovered.
September Corporate Presentation Bakken TransactionDenbury
Denbury Resources is a leading CO2 enhanced oil recovery (EOR) company in the US with over $8.9 billion in enterprise value. It has significant oil reserves that can be recovered through EOR using CO2, with over 1 billion barrels of potential oil reserves. Denbury utilizes infrastructure like pipelines to transport CO2 to oil fields for injection and extraction. It aims for sustainable growth of 13-15% annually through 2020 using its EOR platform and expertise.
This corporate presentation from Denbury Resources outlines their business model of using carbon dioxide (CO2) enhanced oil recovery (EOR) to extract oil from mature oil fields. Denbury has over 1 billion barrels of potential oil reserves recoverable through CO2 EOR across their two key regions. Their strategy relies on strategic CO2 supply from pipelines over 1,100 miles long and a large inventory of oil fields. They expect a decade of low teens annual production growth through repeating their successful CO2 EOR process across multiple fields.
Tim Bertels - The Quest CCS project Canada - Presentation at the Global CCS I...Global CCS Institute
The document summarizes Shell's Quest Carbon Capture & Storage Project in Alberta, Canada. It discusses (1) Shell's response to reducing CO2 emissions through natural gas, biofuels, carbon capture & storage, and energy efficiency; (2) Shell's involvement in various CCS projects worldwide; and (3) provides an overview of the Quest project which will capture over 1 million tonnes of CO2 per year from an oil sands upgrader and transport it via pipeline for storage in deep saline aquifers.
2008 annual report for Phoenix Coal (TSX: PHC), a company engaged in the exploration, production, acquisition and sale of coal from the Illinois Basin. The current mining operations and near-term development projects of the Company are located
in Western Kentucky, an area that comprises a part of the Illinois Basin.
The document summarizes a presentation by John Foran of Natural Resources Canada on shale gas development in Canada. It outlines Canada's energy policy framework, jurisdiction over energy resources, NRCan's role, Canada's large shale gas resources, and public concerns regarding shale gas development, particularly around water usage and potential contamination, greenhouse gas emissions, and induced seismicity. It also discusses NRCan's research addressing these concerns.
CCS Assessment in the Philippines - Carlo Arcilla and Raymond TanGlobal CCS Institute
This presentation was given as part of the CCS Ready workshop which was held in association with the 6th Asia Clean Energy Forum (20 – 24 June, Manila)
The workshop discussed the range of measures and best practices that can be implemented to prompt the design, permitting and construction of CCS projects when designing or building a new fossil fuelled energy or industrial plant.
The workshop hosted participants of the Asian Development Banks’ Regional Technical Assistance Program who updated the group on the outcomes of their individual projects.
This presentation provides an update on the current project being undertaken under the Asian Development Bank’s Regional Technical Assistance Program which aims to conduct an analysis of the potential for CCS, culminating in a road map for a CCS demonstration project in the Philippines.
2Co Energy - Don Valley Power Project - Securing Energy Supporting Growth – D...Global CCS Institute
As a part of the Institute's strategic focus on assisting CCS projects through knowledge sharing, three North American roadshow events will help the industry share project experiences and knowledge about CCS. Taking place in the US and Canada, the three events include:
• Austin, Texas on November 8, 2011;
• Calgary, Canada on 10 November, 2011; and
• Washington, D.C. on 19 January, 2012.
The first roadshow focused on sharing project experiences and knowledge from the projects in North America but also brought in projects from Europe (Don valley) and Australia (Callide) so that regionally diverse experiences could be shared amongst a global audience.
Attendance at the event was around 30 to 35 which allowed open and frank discussions around technical, management, and regulatory issues and how these challenges can impact on a project’s advancement and decision making processes.
Summit Power – Texas Clean Energy Project: A PolyGen Facility with 90% CO2 Ca...Global CCS Institute
The Texas Clean Energy Project (TCEP) is a proposed 400 MW integrated gasification combined cycle (IGCC) power plant with 90% carbon capture located in Odessa, Texas. It will use coal gasification and carbon capture technology to generate electricity while capturing approximately 2.5 million tons per year of carbon dioxide. Additional products will include urea fertilizer and argon gas. The $2.2 billion project aims to demonstrate large-scale carbon capture and storage while creating jobs and supporting US energy security through low-carbon energy sources.
Where to from here? Oil & Gas Investor article by Bettina Pierre-Gillesbettinapg
1) Drilling for coalbed methane in Alberta's Horseshoe Canyon and Mannville formations is increasing as operators shift to more horizontal wells.
2) The Horseshoe Canyon is the only commercial coalbed methane play in Canada so far, with over 2,700 wells producing around 150,000 cubic feet per day on average.
3) The Mannville formation has potential but is not yet commercial due to water production challenges; some operators are exploring horizontal drilling to potentially unlock more gas at faster rates.
Impacts of Hydrology and Habitat Changes on the Primary Production of the Ton...tacochrane
Arias, M.E., Cochrane, T.A., Piman, T. and Kummu M. (2012) Impacts of hydrology and habitat changes on the primary production of Southeast Asia's largest lake. IWA (International Water Association) World Congress on Water, Climate and Energy. Dublin, Ireland, 13-18 May 2012.
Germany's decision to phase out nuclear power over the next 11 years will impact carbon prices in the EU. The newsletter discusses various carbon market highlights including an increase in new CDM projects and issuance of CERs in May. It also provides updates on VER and CER prices globally and previews upcoming carbon events.
This document discusses carbon dioxide (CO2) storage. It begins by outlining the key aspects of finding suitable geological storage sites, including injectivity, storage capacity, and containment. It emphasizes the importance of selecting sites that minimize risk. The document then discusses techniques for modeling and measuring storage sites to reduce uncertainty. It provides examples of potential storage options like depleted oil/gas fields and deep saline formations. It also notes that CO2 will be in a dense liquid state at the depths of storage. The document concludes by discussing challenges around wellbore integrity and regulation for CO2 injection wells.
The document summarizes opportunities for carbon finance projects in countries belonging to the Regional Center for Renewable Energy and Energy Efficiency (RCREEE). It finds significant potential for emission reductions through renewable energy and energy efficiency projects. Specifically:
1) Many countries have 4-10 projects that could be registered under the Clean Development Mechanism before 2012, including wind, hydro, waste and efficiency projects.
2) Countries' total emission reduction potentials from 2009-2030 range from around 20-100 million tons of CO2 equivalent primarily from energy sector projects.
3) Promising areas for Nationally Appropriate Mitigation Actions (NAMAs) were identified in energy efficiency and renewables in Tunisia,
1) Clean coal use has tripled as regulated emissions have declined over 80%, providing a path to near-zero emissions through technologies like carbon capture and storage.
2) Studies show that achieving climate goals would cost 40% more without carbon capture and storage, which can reduce costs of meeting emissions targets by 15-50% compared to other low-carbon options like nuclear and renewable energy.
3) Major carbon capture and storage projects are accelerating around the world, with plans for 10 commercial demonstration projects in the US by 2016 called for by the Secretary of Energy to advance the technology.
Rick Van Nieuwenhuyse (President & CEO) presented at the NovaGold SGM re: NovaCopper spin-out. Over 99% of the votes cast were in favour of the spin-out.
The document discusses Aldridge Minerals and its Yenipazar gold-silver project in Turkey. Some key points:
- Yenipazar has an open-pittable resource of over 24 million tonnes averaging 1.09 g/t gold and 33.8 g/t silver.
- A preliminary economic assessment showed the project could have a 23.2% IRR and US$209 million NPV at current metal prices.
- Further metallurgical testing and potential increased recoveries could substantially increase the project's estimated value.
Reg Nelson Beach Energy- Resources & Energy Symposium 2012Symposium
This document provides an overview of Beach Energy Limited's presentation at the 2012 Resource and Energy Symposium in Broken Hill. The presentation discusses South Australia's strong historical ties to the resources sector due to areas like Broken Hill. It notes that South Australia is experiencing a resurgence in exploration driven by various state initiatives. The presentation advocates for natural gas as an important future energy source for South Australia and Australia more broadly. It outlines Beach Energy's identification of shale gas opportunities in Australia, with an initial focus on exploring shale potential in the Cooper Basin.
This corporate presentation by Denbury Resources provides an overview of the company and its operations. It summarizes that Denbury is a leading CO2 enhanced oil recovery company in the US with over $10 billion in enterprise value and 67,234 barrels of oil equivalent per day in production. It also outlines Denbury's secured CO2 supply, pipeline infrastructure, oil reserves of over 1 billion barrels, and projected sustainable growth rate of 13-15% through 2020.
The document discusses enhanced oil recovery (EOR) using carbon dioxide injection to access large untapped domestic oil resources in the United States. It states that EOR using CO2 has the potential to produce more than four times America's proven oil reserves, or up to 10 years of national oil consumption. However, without policies to reduce CO2 emissions, the limited supply of CO2 will prevent most of this stranded oil from being recovered.
U.S. Department of Energy Office of Fossil Energy – Early CCUS Deployment th...Global CCS Institute
This document discusses how early deployment of carbon capture, utilization, and storage (CCUS) through CO2 enhanced oil recovery (EOR) can help catalyze commercialization of carbon capture and storage (CCS) technology. It notes that CO2-EOR could produce 60 billion barrels of domestic oil, create over 600,000 jobs, and reduce CO2 capture costs to $1 per tonne by 2030 while meeting emissions reduction goals. The document argues that CO2-EOR provides an opportunity to spur widespread adoption of CCUS technologies through economic and environmental benefits.
This document discusses hydraulic fracturing in Canada. It provides an overview of Encana Corporation, one of Canada's largest natural gas producers. It addresses public concerns regarding the safety and environmental impacts of hydraulic fracturing. The industry has responded to these concerns by developing guiding principles through the Canadian Association of Petroleum Producers around issues like water usage, chemical disclosure, and seismic activity. The document also outlines Encana's experience implementing practices like fracturing fluid additive disclosure and risk assessment to address stakeholder concerns over hydraulic fracturing.
This corporate presentation provides an overview of Denbury Resources, a company that uses carbon dioxide enhanced oil recovery (CO2 EOR) to produce oil from mature oil fields. Some key points:
- Denbury has over 1,100 miles of CO2 pipelines and a large inventory of mature oil fields that it acquires and develops using CO2 EOR.
- CO2 EOR has provided Denbury with a 29% compound annual growth rate in production since 1999 and over 90 million barrels of oil produced to date.
- Denbury estimates there are over 1 billion barrels of potential oil reserves recoverable across its Gulf Coast and Rocky Mountain regions using CO2 EOR.
Choosing the Clean Path for Fueling Our Transportation FutureLiz Barratt-Brown
The document discusses the environmental impacts and policy implications of expanding production of high-carbon fuels like tar sands and oil shale. It argues that developing these fuels undermines efforts to reduce greenhouse gas emissions and achieve climate goals. Tar sands extraction in particular has significant land use and water impacts. Increased reliance on high-carbon fuels could make an 80% reduction in transportation emissions by 2050 impossible and undermine energy security goals by locking in long-term dependence on oil. Alternative solutions are needed that reduce oil use and avoid environmentally destructive sources of fuel.
All Oil Companies Are Not Alike outlines Denbury Resources' strategy of acquiring mature oil fields and using carbon dioxide flooding techniques to recover additional oil reserves. Denbury has over 1 billion barrels of potential oil reserves accessible through CO2 enhanced oil recovery. They own or control over 1,000 miles of pipelines to transport CO2 to oil fields as well as strategic CO2 supply sources. Denbury focuses on applying proven CO2 flooding processes to repeatably grow production and reserves from its inventory of oil fields suitable for the technique.
1) The document discusses closing the carbon cycle through capturing carbon dioxide from the air or flue gases to produce energy and other products.
2) It proposes using air capture technology, like Global Thermostat's, to facilitate transitioning to renewable energy by connecting sources of air and concentrated carbon dioxide.
3) Global Thermostat seeks partners to broadly disseminate its licensing model for air capture technology in order to make money by reducing carbon emissions.
2013 05 ir presentation - 1 q13 earnings final-v001_x4807eDenbury
Denbury Resources is an oil and gas company that focuses on enhanced oil recovery using carbon dioxide (CO2) flooding. It has over 1,100 miles of CO2 pipelines and a large inventory of mature oil fields. Denbury acquires mature oil fields and recovers additional oil reserves through CO2 flooding, which can recover up to 17% of original oil left behind by primary and secondary recovery methods. Denbury estimates it has the potential to recover over 1 billion barrels of additional oil through CO2 flooding across its asset base. The company anticipates a decade of low teens annual growth in CO2 enhanced oil recovery production.
The NCS delivers carbon accounting and carbon management courses both online and through face to face workshops. The NCS developed Australia's first accredited short course in carbon accounting, and Australia's first Diploma of Carbon Management
The document discusses carbon dioxide (CO2) enhanced oil recovery (EOR) technology and its potential application in the Permian Basin. It provides background on CO2 flooding techniques and their advantages. It then examines a case study of a CO2 flooding project in the Denver Unit of the Wasson oil field, noting that CO2 injection helped arrest declining oil production. The document estimates that CO2 EOR could potentially recover 100 billion barrels of oil in the US. It also discusses how next-generation CO2 EOR technologies could expand application, utilization of captured CO2, and storage potential to provide economic incentives for carbon capture and storage.
- Hydrogen and fuel cells could provide a clean energy future by powering transportation in a way that reduces emissions and reliance on fossil fuels.
- However, widespread adoption of hydrogen faces challenges related to infrastructure, onboard storage, and high production costs compared to gasoline.
- Continued research aims to address these challenges through improvements in fuel cell catalysts, hydrogen storage technologies, and reducing the cost of renewable hydrogen production.
- Overcoming these challenges will require significant investments but could allow hydrogen to play a key role in transitioning to sustainable transportation.
The best overview of CO2 EOR I've seen crabtreeSteve Wittrig
Brad Crabtree, "The critical role of CCS and EOR in managing US carbon emissions" in "CO2 Summit II: Technologies and
Opportunities", Holly Krutka, Tri-State Generation & Transmission Association Inc. Frank Zhu, UOP/Honeywell Eds, ECI Symposium Series, (2016). http://dc.engconfintl.org/co2_summit2/3
Carbon capture and storage aims to prevent CO2 emissions from large stationary sources like power plants from entering the atmosphere. It involves capturing about 90% of CO2 emissions, compressing and transporting it, then permanently storing it underground. CO2 can be stored in deep saline formations or depleted oil and gas fields, where it becomes trapped between rock grains and in the pores of reservoir rocks. Several CCS projects have already stored millions of tons of CO2 underground for decades. While CCS could help slow the rise of atmospheric CO2, it is still a relatively new technology that requires further development and legal/regulatory frameworks to become widely implemented.
Carbon sequestration is the process involved in carbon capture and the long-term storage of atmospheric carbon dioxide (CO
2)[1] and may refer specifically to:
"The process of removing carbon from the atmosphere and depositing it in a reservoir."[4] When carried out deliberately, this may also be referred to as carbon dioxide removal, which is a form of geoengineering.
Carbon capture and storage, where carbon dioxide is removed from flue gases (e.g., at power stations) before being stored in underground reservoirs.
Natural biogeochemical cycling of carbon between the atmosphere and reservoirs, such as by chemical weathering of rocks.
These slides were presented for the webinar CO2 EOR and the transition to carbon storage which was presented by Dr Ernie Perkins, a geologist based in Alberta, Canada, with over 20 years experience in carbon dioxide sequestration and acid gas/EOR.
Ernie currently works for both the Global CCS Institute and Alberta Innovates Technology Futures and presented an informative and educational dive into the realities and science of EOR.
The webinar can be viewed by visiting the Global CCS Institute website (http://www.globalccsinstitute.com/community/events/2011/08/17/co2-eor-and-transition-carbon-storage).
Michael P Totten presentation Sustainability Opportunities Summit, Denver, Ma...Michael P Totten
Michael P Totten presentation at the 2009 Sustainability Opportunities Summit in Denver. Discusses linkages between rainforest loss, species loss, and positive solutions for preventing greenhouse gas emissions while helping alleviate poverty and preventing biodiversity destruction.
This paper was prepared by Dr Steve Whittaker and Dr Ernie PerTakishaPeck109
This paper was prepared by Dr Steve Whittaker and Dr Ernie Perkins, respectively Principal
Manager–Carbon Storage and Consultant–Projects, during their time at the Institute.
October 2013
Version Final 2
1.1 Background
The injection of carbon dioxide into oil fields is one method of enhancing oil recovery that has been used
commercially for more than 40 years. For enhanced oil recovery (EOR), carbon dioxide gas (CO2) is
compressed at surface and injected as a liquid into the oil reservoir at depth where it effectively acts as a
solvent to increase the amount of oil that can be produced from the field. Typically, CO2 EOR is a tertiary
method applied to reservoirs that have declining oil production and that have progressed through primary
and secondary production stages.
Primary production uses the reservoirs’ natural pressure to drive the oil to surface whereas secondary
production typically involves pumping the oil to surface and injection of water to restore or increase reservoir
pressure to drive oil production. The reason CO2 is used in a tertiary method is because water does not mix
with the oil (they are immiscible) whereas CO2 and oil can mix (they are miscible) at reservoir conditions.
This results in the oil becoming less viscous so that it flows more easily. Very generally, if a secondary water
injection program is successful, it bodes well for a CO2 EOR program being successful. It must be noted that
not all oil fields are suitable for CO2 injection as oil composition, depth, temperature and other reservoir
characteristics significantly influence the effectiveness of this method (Melzer, 2012).
The amount of oil that can be recovered during the different production stages is again highly dependent on
the nature of the geological reservoir and oil composition, but in very general terms fields typically targeted
for CO2 EOR have had primary recovery of about 10–20 per cent of the original oil in place, secondary
recovery of an additional 10–20 per cent, and expectations from CO2 EOR of another 10–20 per cent. Thus
CO2 EOR provides an opportunity to improve the efficiency of resource extraction and clearly can lead to
significant economic benefits through sales from additional oil production and through extending the
productive life of suitable oil fields by decades. An additional noteworthy benefit of this method is that when
the CO2 mixed with the oil is produced it can be separated and re-injected and ultimately retained in the
reservoir so that incidental geological storage of CO2 is an intrinsic part of the overall process.
A number of excellent overview papers on the geological and engineering aspects CO2 EOR, including
potential for storage, have been released recently (such as Hill et al, 2013; National EOR Initiative, 2012;
Melzer, 2012; Berenblyum et al. 2011; Kuuskraa et al. 2011; and Hovorka and Tinker, 2010).
Currently, about 130 commercial CO2 EOR operations, ...
Closing the Carbon Cycle for Sustainability - Peter Eisenberger (October 15, ...Graciela Chichilnisky
Closing the Carbon Cycle for Sustainability - A Key Strategy for Environmental Protection, Energy Security, and Economic Development - Peter Eisenberger (October 15, 2012 @ Oxford University)
Jeffrey Brown – Summit Power Group – Texas Clean Energy Project: coal feedsto...Global CCS Institute
Jeffrey Brown, Vice-President, Project Finance, Summit Power Group, presented on the Texas Clean Energy Project’s coal feedstock poly-generation plant with CCUS at the Global CCS Institute's Japanese Members' Meeting held in Tokyo on 8 June 2012
The document discusses Denbury Resources' presentation at the 2018 J.P. Morgan Energy Conference. It provides an overview of Denbury, including its oil-weighted production, vertically integrated CO2 business, and significant CO2 enhanced oil recovery potential. It highlights Denbury's leading operating margins among peers and outlines its 2018 capital plan and production guidance. Additionally, it provides details on Denbury's plan to sanction CO2 enhanced oil recovery development at its Cedar Creek Anticline field, which has potential to recover over 400 million barrels of oil.
Denbury Resources is an oil and gas company focused on enhanced oil recovery from its assets in the Gulf Coast and Rocky Mountain regions. It has over 1 billion barrels of proved and tertiary recovery potential reserves. In 2018, Denbury plans to spend $300-325 million on development projects including expansions of tertiary recovery operations and exploitation drilling. This capital budget is expected to deliver 3% production growth to a range of 60,000-64,000 barrels of oil equivalent per day. Key growth drivers include response projects at Bell Creek field and exploitation of the Cedar Creek Anticline through horizontal drilling in the Mission Canyon formation. Denbury also has a large exploitation opportunity set that it aims to de-risk through an accelerated
This document appears to be an earnings presentation by Denbury Resources (DNR) for the first quarter of 2018. It provides an overview of DNR's operational activities, including positive results from new horizontal wells drilled in the Mission Canyon field that exceeded expectations. It notes plans to drill additional wells across various fields in 2018. The presentation also provides a production overview by area for the first quarter and full year 2018 production guidance. It outlines DNR's priorities for the remainder of 2018, including further development and exploitation activities as well as financial objectives.
- Denbury Resources is an oil and gas company focused on enhanced oil recovery using carbon dioxide (CO2) flooding. Over 60% of its production comes from CO2 EOR projects.
- It has significant oil-weighted proved reserves of 260 million barrels of oil equivalent and potential additional reserves from tertiary recovery projects.
- In 2018, Denbury plans to spend $300-325 million on development projects focused on expanding CO2 EOR as well as exploitation projects, while maintaining spending within adjusted cash flow.
Jp morgan 2017 global high yield leveraged finance conference finalDenbury
- Denbury is an oil and gas company focused on enhanced oil recovery using carbon dioxide flooding. Over 60% of its production comes from CO2 EOR projects.
- It has significant oil-weighted proved reserves of 260 MMBOE as well as substantial additional proved plus probable and possible reserves potential from identified CO2 EOR projects.
- Denbury has extensive CO2 pipeline infrastructure and owns natural underground CO2 resources, giving it a cost structure largely independent of oil prices.
Denbury Resources is an oil and gas company focused on enhanced oil recovery using carbon dioxide flooding. It operates in the Gulf Coast and Rocky Mountain regions of the United States. Denbury has over 1 billion barrels of proved and potential reserves that could be recovered through CO2 flooding. The company aims to grow its reserves and production through organic projects while maintaining spending within cash flows. Denbury also seeks to increase the sustainability of its operations by annually injecting millions of tons of industrial carbon dioxide into its oil reservoirs.
Denbury Resources presented at the Capital One Securities 12th Annual Energy Conference on December 6, 2017. Denbury has 254 million barrels of proved oil reserves and an estimated 900 million barrels of proved plus potential reserves recoverable through CO2 enhanced oil recovery. The company has a large CO2 supply and pipeline network across the Gulf Coast and Rocky Mountain regions. Denbury is focused on reducing costs by over $50 million in 2018, unlocking value from its asset base, and improving its balance sheet position through debt reduction and potential asset sales.
Denbury Resources reported operational and financial results for 3Q17. Production was impacted by Hurricane Harvey but no long-term damage occurred. Denbury is focusing on reducing costs, maximizing asset value, and improving its balance sheet. It has identified opportunities to develop horizontal wells in the Mission Canyon interval of the Cedar Creek Anticline, which could unlock significant resource potential with attractive economics. Total operating costs for the quarter were $21.22 per BOE.
Denbury Resources presented at the Johnson Rice 2017 Energy Conference on September 26-27, 2017. Some key points:
- Denbury has proved oil reserves of 254 MMBOE and proved + potential reserves of ~900 MMBOE from CO2 enhanced oil recovery.
- Their CO2 supply includes 6.5 Tcf of proved reserves plus significant quantities from industrial sources.
- Recent production was 59,774 BOE/d, with 61% from CO2 EOR projects and 97% oil.
- Denbury has over 1,100 miles of CO2 pipelines and nearly 2 decades of CO2 EOR production experience.
Denbury Resources presented at the Barclays CEO Energy-Power Conference on September 6, 2017. Denbury is an oil and gas company focused on CO2 enhanced oil recovery in two regions: the Gulf Coast and Rocky Mountains. Some key points:
- Proved oil reserves of 254 million barrels and proved plus potential reserves of around 900 million barrels as of year-end 2016.
- Significant CO2 reserves and pipeline infrastructure to support ongoing CO2 flooding projects.
- Second quarter 2017 production of around 60,000 barrels of oil equivalent per day, with over 95% from CO2 flooding projects.
- Focus on reducing costs by over $50 million in 2018 while modestly growing production and improving the balance sheet
Denbury Resources provides a presentation on their company and operations. Some key points:
- They operate CO2 enhanced oil recovery in two core regions: the Gulf Coast and Rocky Mountain regions.
- In these regions they have significant CO2 reserves and pipeline infrastructure to support CO2 EOR projects.
- Their 2016 proved oil reserves were 254 MMBOE, with potential to recover up to 900 MMBOE total from their fields using CO2 EOR.
- They provide updates on recent acquisitions of the Salt Creek and West Yellow Creek fields, which are expected to replace 2017 production.
- Denbury also revises their 2017 capital budget down to $250 million and production guidance up slightly to 60-
- Denbury Resources reported financial and operational results for 2Q17 during an earnings presentation on August 8, 2017.
- Production for the quarter was 59,774 BOE/d, relatively flat compared to 1Q17. Denbury revised 2017 full-year production guidance to 60,000-62,000 BOE/d.
- Capital expenditures for 2017 were reduced to approximately $250 million, down from the initial $300 million budget, due to deferral of some development projects.
J.p. morgan 2017 energy equity conference finalDenbury
- Denbury is an oil and gas company focused on CO2 enhanced oil recovery (CO2 EOR) projects in the Gulf Coast and Rocky Mountain regions of the US.
- CO2 EOR has the potential to recover billions of barrels of oil nationally left behind by traditional oil recovery methods and can recover up to 20% of original oil in place.
- Denbury owns extensive CO2 reserves and pipelines in the Gulf Coast that support current and potential CO2 EOR projects across multiple oil fields, with over 150 million barrels already produced from CO2 EOR.
Denbury provides a corporate presentation discussing its operations, assets, and 2017 priorities. It has 254 million barrels of proved oil reserves across its Gulf Coast and Rocky Mountain regions, with an additional ~900 million barrels of potential from CO2 enhanced oil recovery. Its priorities for 2017 include improving its balance sheet, stabilizing production, maintaining efficiencies, and pursuing growth opportunities. It outlines a $300 million capital budget focused on tertiary projects and exploitation to maintain flat production of around 62,000 barrels per day.
- Denbury Resources held an earnings presentation on May 4, 2017 to review its financial and operational performance in the first quarter of 2017.
- The presentation included sections on the company's overall review and outlook, operational review, and financial review.
- Denbury reported total production of approximately 60,000 BOE/d for the first quarter of 2017, with tertiary production from its CO2 EOR fields accounting for over 37,000 BOE/d.
- Denbury Resources is an oil and gas company focused on CO2 enhanced oil recovery (EOR) projects in the Gulf Coast and Rocky Mountain regions of the United States.
- As of 2016 year-end, Denbury had 254 million barrels of oil equivalent of proved reserves, with potential to recover up to 800 MMBOE total through CO2 EOR across its asset base.
- Denbury owns significant CO2 reserves and pipelines that provide a strategic advantage for its EOR projects by controlling the CO2 supply.
- Denbury is an oil and gas company focused on CO2 enhanced oil recovery (CO2 EOR) with over 155 million barrels of oil produced from CO2 EOR.
- It has proved reserves of 254 million barrels of oil equivalent (58% from CO2 EOR) and estimated potential reserves of around 800 million barrels.
- In the fourth quarter of 2016, Denbury produced over 60,000 barrels of oil equivalent per day (62% from CO2 EOR).
- For 2017, Denbury expects relatively flat production from 2016 and has budgeted $300 million primarily for expanding existing CO2 floods.
- Denbury Resources reported a net loss of $386 million for Q4 2016 and $976 million for the full year, primarily due to non-cash fair value adjustments and asset write-downs. However, when excluding these non-cash items, Denbury's adjusted net loss was only $7 million for Q4 2016 and adjusted net income was $14 million for the full year.
- For 2017, Denbury expects production to remain relatively flat at 60,000-62,000 barrels of oil equivalent per day, with a capital budget of $300 million focused on expanding existing CO2 flood projects and other infill opportunities.
- The company will prioritize stabilizing production, improving its balance sheet by reducing
This document provides an overview of Denbury Resources Inc. (NYSE: DNR), an oil and gas company focused on enhanced oil recovery using carbon dioxide (CO2) flooding. Some key points:
- DNR owns over 1,100 miles of CO2 pipelines and has produced over 155 million gross barrels from CO2 EOR projects to date.
- DNR's two core CO2 EOR target areas in the Gulf Coast and Rocky Mountain regions have an estimated recoverable potential of up to 16 billion gross barrels.
- DNR's 2017 capital budget is approximately $300 million, focused on expanding existing CO2 floods and other projects. Production is expected to remain relatively flat in 2017 compared to
This corporate presentation by Denbury Resources provides an overview of the company's CO2 enhanced oil recovery (EOR) business. Some key points:
- Denbury focuses on CO2 EOR, owning significant CO2 reserves and over 1,100 miles of pipelines to transport CO2 for injection.
- The company's assets have substantial long-term EOR resource potential estimated at 890 million barrels recoverable.
- In response to low oil prices, Denbury is focusing on reducing costs, optimizing operations, reducing debt, and preserving cash and liquidity.
- The company has ample CO2 supply for EOR operations with no significant capital required for several years.
1. All Oil Companies Are Not Alike.
Corporate Presentation
NYSE: DNR May/June 2012
August
2. A Different Kind of Oil Company
Leading CO2 Enhanced Oil Recovery (EOR) Company in the U.S. with a Unique Profile
• ~$8.7 billion enterprise value
Scale • 72,337 BOE/d production (2Q12)
• Highest operating margins and capital efficiency in peer group(1)
• 30% compound annual growth rate (CAGR)
Performance in EOR production over the last 12 years
• 2nd Largest CO2 EOR Producer in North America
• Infrastructure in place with secure CO2 supply
Platform • More than 1 billion barrels of potential oil reserves
• Experienced management team
• ~$1.1 billion of credit facility availability at 6/30/12
Liquidity • Capital budget seeks to balance expenditures with free cash flow
Sustainable • Sustainable EOR growth profile at 13-15% CAGR thru 2020
Growth • ~200k acres in oil-rich Bakken play with growing production
(1) Please reference slides 10 and 11 for more information
2
3. Denbury at a Glance
Total 3P Reserves (12/31/11) ~1.3 BBOE
% Oil Production (2Q12) 93%
Market Cap (7/31/12) ~$5.8 billion
Total Net Debt (6/30/12) $2.9 billion
Total Daily Production (2Q12) 72,337 BOE/d
Proved PV-10 (12/31/11) $96.19 NYMEX Oil Price $10.6 billion
CO2 3P Reserves (12/31/11) ~16 Tcf
CO2 Pipelines Controlled & Under Construction ~1,000 miles
Credit Facility Availability (6/30/12) ~$1.1 billion
3
4. What is CO2 EOR & How Much Does It Recover?
Secure CO2 Supply Transport via Pipeline Inject into Oilfield
EOR Delivers Almost as Much Production as Primary
or Secondary Recovery(1)
Tertiary
Recovery Remaining
(CO2 EOR) Oil
~17%
Secondary
Recovery
(waterfloods)
Primary
~18%
Recovery
(1) Recovery of Original Oil in Place based on history at Little Creek Field. ~20%
4
5. Our Two EOR Target Areas:
Up to 10 Billion Barrels Recoverable with EOR
Denbury Rockies Region
233 Million 3P EOR Barrels Estimated 1.3 to 3.2
MT ND Billion Barrels
Recoverable
Greencore
ID Pipeline SD
Lost
Cabin
WY
IL
IN
KY
Existing CO2 Pipelines Denbury Gulf Coast Region
CO2 Pipelines Under Development 526 Million 3P EOR Barrels
MS
Denbury owned Rocky Mountain Fields
With EOR Potential Delta Pipeline Jackson
Sonat MS Dome
Free State
Existing Anthropogenic CO2 Sources Pipeline Pipeline
Proposed Coal to Gas or Liquids LA
TX
Green
Existing or Proposed CO2 Source Pipeline
Owned or Contracted Thompson
Estimated 3.4 to 7.5
Source: DOE 2005 and 2006 reports. Billion Barrels
Note: 3P total reserves as of 12/31/11, based on a variety of recovery factors, Recoverable
includes Thompson acquisition that closed in June 2012.
5
6. Gulf Coast Region:
Control of CO2 Sources & Pipeline Infrastructure Provides a Strategic Advantage
Summary(1) Tinsley
Delhi
3 46 MMBbls
Proved 202
5 36 MMBbls Tinsley
Probable (2) 324 Jackson
Dome
Produced-to-Date 64
Delhi
Total (2) 590 Free State Pipeline
Davis
Quitman
(2) Heidelberg
4 31 MMBbls
Lake Sonat
Martinville
Summerland
Sandersville
Soso Cypress Creek
Eucutta
MS Pipeline
St. John Yellow Creek
Brookhaven
Cranfield
Mallalieu
Olive
2
Citronelle
Smithdale
Little Creek
83 MMBbls
McComb
9
Conroe 1 82 MMBbls
130 MMBbls
Green Pipeline
Lockhart
Crossing Citronelle
Conroe
6 26 MMBbls
Thompson (3) Donaldsonville
30 - 60 MMBbls
Fig Ridge
Oyster
Thompson Bayou
Hastings
Hastings Area
7 70 - 100 MMBbls Oyster Bayou
8 20 - 30 MMBbls Cumulative Production
15 - 50 MMBoe
50 – 100 MMBoe
> 100 MMBoe
Denbury Owned Fields
1) Proved plus probable tertiary oil reserves as of 12/31/11, rolled forward to 6/30/2012. Fields Owned by Others – CO2 EOR Candidates
2) Using mid-points of range.
3) Acquired June 2012.
6
7. Rocky Mountain Region:
Control of CO2 Sources & Pipeline Infrastructure Provides a Strategic Advantage
CO2 Sources
Cedar Creek Anticline
197 MMBbls(1)
Existing Anthropogenic (Man-made)
Proposed Coal to Gas or Liquids MONTANA DGC Beulah
Existing or Proposed CO2 Source Cedar Creek
Anticline
Owned or Contracted Many Star
NORTH DAKOTA
Quintana
Elk Basin
Bell Creek
Bell Creek
30 MMBbls(1)
Riley Ridge(2)
Greencore Pipeline
415 BCF Nat Gas 232 Miles
12.0 BCF Helium Gas Tech
SOUTH DAKOTA
2.2 TCF CO2
Lost Cabin
WYOMING Cumulative Production
15 - 50 MMBoe
Refined 50 – 100 MMBoe
Energy > 100 MMBoe
Riley Ridge
Denbury Owned Fields
LaBarge
Fields Owned by Others – CO2 EOR Candidates
Anadarko CO2 DKRW Grieve Field
Pipeline 6 MMBbls(1)
Pipelines
Denbury Pipelines in Process
Denbury Proposed Pipelines
1) Probable and possible reserve estimates as of 12/31/11, based on a variety of recovery factors. Pipelines Owned by Others
2) Proved reserves as of 12/31/11
7
8. More than a Billion Barrels of Oil Potential
1,400 46
557
..... 100% .....1,312
87%
1,200 100%
Oil
Oil Natural
1,000 Gas
MMBOE
800 193
85%
.....
600 516
462
81%
..... Oil
400 77% Oil
Oil
200
0
12/31/11 6/30/12 +Bakken +EOR +Riley Ridge =Total
(2) (2)
Proven Proven Drilling Potential Natural Gas Potential
Reserves Reserves(1) Potential(2)
(1) Based on year-end 12/31/11 SEC proved reserves rolled forward to 6/30/12
(2) Estimates based on internal calculations, includes Thompson acquisition that closed in June 2012, refer to slide 27 for additional disclosures
8
10. Highest Operating Margin in Peer Group(1)(2)
$100
Realized Avg. Price - All Production ($/BOE)
$90
$80
$70
$68
$60
$50
$57
$60 $60
$40
$41 $37 $39
$30 $44 $33 $33
$20 $23
$18
$30
$10 $19 $17
$13 $16 $14 $12
$12 $8 $10 $8 $8
$0
DNR Peer A Peer B Peer C Peer D Peer E Peer F Peer G Peer H Peer I Peer J Peer K
Operating Margin Operating Costs
(1) Data derived from SEC filings, 3 months ended 3/31/12
(2) Peer Group includes CLR, CXO, FST, NBL, NFX, PXD, RRC, SD, SM, WLL, XEC
10
11. Highest Capital Efficiency in Peer Group(1)
Adjusted 3-Year Finding & Development Cost ($/BOE)(2)
$30.00
$26.90
$25.53 $24.54 $24.24 $23.58
$25.00 $22.69 $21.74 $20.83 $20.45
$20.00
$16.75
$15.00 $12.80
$10.00 $7.26
$5.00
$0.00
Peer G Peer K Peer E Peer F Peer I Peer J Peer D Peer H Peer A DNR(3) Peer C Peer B
Adjusted Capital Efficiency Ratio
450%
397%
400%
350%
283% 282%
TTM EBITDA Efficiency
300% 273%
253% Adj. F&D = Ratio
250% 217%
200% 160% 148% 136%
150% 127% 126% 122%
100%
50%
0%
DNR Peer A Peer B Peer C Peer D Peer E Peer F Peer G Peer H Peer I Peer J Peer K
(1) Peer Group includes CLR, CXO, FST, NBL, NFX, PXD, RRC, SD, SM, WLL, XEC
(2) Adjusted to include changes in future development costs and change in unevaluated properties.
(3) Includes 3 year average DD&A for CO2 properties of $0.83 per BOE
11
12. Compelling Economics(1)
EOR Bakken
575,000 BOE / Well
Gulf Coast $9.6 Million / Well(2)
Model Averages 20% Royalty
NYMEX oil price $90.00 $90.00
Finding & development cost:
Field 9.00 21.00
Infrastructure 4.50 ---
Total capital per BOE $13.50 $21.00
Average operating cost over life 25.00 8.00
Average historic NYMEX differentials 1.25 10.00
Estimated gross margin $50.25 $51.00
Estimated Internal Rate of Return 39% 27%
Return on investment 4.4 2.7
(1) Updated as of 12/31/11
(2) Cost target of long lateral well; Q1 actual cost averaged between $10.5 to $11.0 million
12
13. Complementary Production Profiles
Projected Production Profile with Same Capital Spending Capital Spending per
Year Based on EOR
Spending Pattern
12,000 Year $MM
Gulf Coast EOR Field 1 83
2 83
Bakken 3 60
10,000
4 60
5 68
6 52
Production (BOEPD)
8,000 7 52
Production (Bbls/d)
8 52
9 45
6,000 Total $555
4,000
2,000
0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18
Years
Note: Assumes 700 BOEPD initial 30 day rate for Bakken wells.
13
14. Secure CO2 Supply to Support Gulf Coast Growth
2,500
Possible
2,000 2 Tcf
Probable
1,500 2.5 Tcf
MMCFPD
CO2 Recycle
1,000 3.3 Tcf
(Proved Only)
Jackson Dome Anthropogenic Supply
500 Proved 6.7 Tcf 165 MMCFPD
(as of 12/31/2011)
0
2000 2005 2010 2015 2020 2025 2030
Note: CO2 recycle assumed to be 50% of proved. Forecast based on internal management estimates. Actual results may vary. Phases 1-9 including industrial.
Recently completed Thompson acquisition not included.
14
15. Secure CO2 Supply to Support Rocky Mountain Growth
LaBarge Field
● Estimated Field Size: 750 Square Miles
● Estimated 100 TCF of CO2 Recoverable
Riley Ridge – Denbury Operated
● 100% WI in 9,700 acre Riley Ridge Federal Unit
● 33% WI in ~28,000 acre Horseshoe Unit
Riley Ridge(1)
415 BCF Nat Gas
12.0 BCF Helium
2.2 TCF CO2
232 Miles
1) Proved reserves as of 12/31/2011
15
16. Third Growth Platform (Bakken Area)
Bakken Area
● ~200,000 net acres
● ~300 MMBOE of total potential Nesson
Anticline
~107 MMBOE Proved as of 6/30/2012
● 2011 Production – 8,788 BOE/d
● 2Q12 Production – 15,208 BOE/d
99% increase vs. 2Q11
● 2012E Production – 14,350-16,350 BOE/d
Net Bakken Production
16 15.1 15.2
11.7
12 10.0
MBOE/d
7.6
8 5.7
4.5 4.7 5.2
4
Denbury’s Core Denbury’s Extensional
Bakken Area Bakken Areas
0
2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 DNR Acreage
16
17. Strong Financial Position
● ~$1.1 billion availability under Debt to Capitalization
credit facility on 6/30/12 (6/30/12)
36% Debt
Unused
Credit 100%
Facility
$1.6 billion borrowing base + (6/30/12) Cash – $28 million
Net of cash, revolver debt of ~$490 million at 6/30/12
17
18. 2012 Summary Guidance
2012 Capital Budget – $1.5 Billion(1) 2012 Production Estimate
All Other 1Q12 2Q12 2012E 2012E
Operating area
Tertiary Floods (BOE/d) (BOE/d) (BOE/d) growth
$100MM
$430MM 33,000-
Tertiary Oil Fields 33,257 35,208 7-16%
Bakken 36,000
$480MM 14,350-
Bakken 15,114 15,208 63-86%
16,350
Total Continuing 69,350-
69,770 72,280 10-18%
CO2 Pipelines Production 74,350
CO2 Sources
$290MM Total 69,775-
$200MM 71,532 72,337 6-14%
Production(2) 74,775
Production per share will grow an
additional ~3.5% in 2012 as a result
of stock re-purchased to date
Currently expect tertiary and total production to be in the upper half of their respective ranges.
(1) Excludes capitalized interest and capitalized EOR startup costs, estimated at $60 million, also net of estimated $75 million funded with equipment leases
(2) Excludes production associated with divested properties completed in 2012.
18
19. Hedges Protect Against Downside in Near-Term(1)
Crude Oil (2) 2012 2013
2nd 4th
2nd Half 1st Quarter 3rd Quarter
Quarter Quarter
Volumes hedged (Bbls/d) (3) 54,250 55,000 50,000 50,000 38,000
Principal price support $80 $70 $75 $75 $80
Principal price ceilings ~$129 ~$110 ~$117 ~$122 ~$124
Natural Gas 2012
Volumes hedged (Mcf/d) (3) 20,000
Principal price support (primarily swaps) $6.30-6.85
(1) Figures are general estimates and averages as of 7/31/12. Please see slide 44 and SEC documents for details of derivative contracts.
(2) All crude oil derivative contracts are based on West Texas Intermediate (WTI) NYMEX price basis.
(3) Approximate percentage which may differ from anticipated results.
19
20. CO2 EOR – Compelling Economics
WTI Breakeven Price for a 15% After-Tax Rate of Return ($ per Bbl)(1)
$100
$90 $86
$83
$79
$80 $75 $76
$70 $64 $65
$59 $61
$58
$60
$50 $50 $51
$50
$40
$30
$20
$10
$0
(1) Source: ISI Group report dated June 15, 2012. Defined as the threshold WTI oil price necessary to generate a 15% after-tax rate of return. Excludes acreage costs.
(2) Internal estimate for indicative large CO2 EOR development project in the Gulf Coast Region.
20
21. Capital Spending Flexibility in Low Oil Price Environment
Unique characteristics of CO2 EOR provides significant capital flexibility
• We attempt to balance development expenditures with free cash flow
• In contrast to shale plays, a reduction in EOR capital spending will not
immediately impact EOR production growth
• Our newer EOR projects have many years of production growth with fairly low
capital expenditures
• It is relatively easy to slow the development pace of EOR projects - most Rocky
Mountain EOR infrastructure development could be delayed if necessary
• No lease expiration issues and limited capital commitments on EOR projects
beyond 2012
• No near-term Bakken acreage expirations - three drilling rigs under contract
through most of 2014
21
22. Sustainable EOR Growth through 2020 (1)
140,000 1,400
Expected Peak
EOR Cap-Ex
Estimated EOR Production (Bbls/d)
Estimated EOR Capital Budget ($MM)
120,000 120,000 1,200
100,000 100,000
1,000
EOR 2012E
Cap-Ex
80,000 800
EOR 2020E
60,000 600
Cap-Ex
● Oyster Bayou
40,000 ● Hastings 400
● Bell Creek
30,946
20,000 ● Conroe 200
● Cedar Creek Anticline
0 0
2011 2014-16 2020E
(1) 2012 and future forecasted capital expenditures and production may differ materially from actual results. See slide 27 for full disclosure.
22
23. CO2 EOR Generates Significant Free Cash Flow
Cumulative Gulf Coast Tertiary Free Cash Flows(1)
+/- $2 Billion
Cumulative Free Cash Flow ($MM)
First Year of
Free Cash Flow
2005 2006 2007 2008 2009 2010 2011 2012E 2013E 2014E 2015E 2016E
(1) Calculated from actual historical operating cash flow (revenues less operating expenses) less capital expenditures and currently projected operating
income and capital expenditures in 2012 and beyond using strip prices as of 5/4/2012. Includes Jackson Dome and Pipelines expenditures in Gulf
Coast, does not include recently completed Thompson acquisition. See slide 27 for full disclosure.
23
24. Estimated EOR Peak Production Rates (as of 12/31/11)(1)
Estimated Peak Production Rate Produced Proved 2P&3P
First (Net MBOE/d) Expected
Operating Area to date(2) Remaining(2) Remaining(3)
Production Peak Year
<5 5-10 10-15 15-20 > 20 (MMBOE) (MMBOE) (MMBOE)
Phase 1 1999 2010 36 35 11
Phase 2 (excl Heidelberg) 2006 2015-17 11 16 12
Oyster Bayou 2012 2012-13 <1 14 11
Tinsley 2008 2013-14 6 31 9
Heidelberg 2009 2014-16 2 31 11
Delhi 2010 2015-17 1 27 8
Bell Creek 2013 2018-20 --- --- 30
Cranfield 2009 2016-19 1 8 6
Lake Saint John 2016 2018-22 --- --- 18
Hastings 2012 2021-25 <1 43 32
Citronelle Unscheduled >2020 --- --- 26
Conroe 2015 2022-26 --- --- 130
Cedar Creek Anticline 2017 2023-27 --- --- 197
Expected year of first tertiary production.
(1) Does not include recently completed Thompson acquisition, where first tertiary oil production is not anticipated prior to 2017.
(2) Tertiary oil production and reserves as of 12/31/11, except for Oyster Bayou and Hastings at which proved reserves were recorded in the 1st and 2nd
quarters of 2012, respectively.
(3) Based on internal estimates of reserve recovery, using mid-points of ranges.
24
25. IN SUMMARY: A Different Kind of Oil Company
Leading CO2 Enhanced Oil Recovery (EOR) Company in the U.S. with a Unique Profile
• Significant strategic advantage in CO2 EOR
• Well defined and focused long-term growth strategy
• Highest operating margin and capital efficiency in peer group
• Substantial free cash flow generation from CO2 EOR after up-front
investment in infrastructure
• CO2 EOR provides high degree of capital flexibility
• Track record of value creation in the Bakken
• Low stock price relative to net asset value
25
26. Corporate Information
Corporate Headquarters
Denbury Resources Inc.
5320 Legacy Drive
Plano, Texas 75024
Ph: (972) 673-2000
denbury.com
Contact Information
Phil Rykhoek
Chief Executive Officer
(972) 673-2000
Mark Allen
Senior VP & CFO
(972) 673-2000
Jack Collins
Executive Director, Investor Relations
(972) 673-2028
jack.collins@denbury.com
26
27. About Forward Looking Statements
The data contained in this presentation that are not historical facts are forward-looking statements that involve a number of risks and
uncertainties. Such statements may relate to, among other things, forecasted capital expenditures, drilling activity, acquisition and
dispositions plans, development activities, timing of CO2 injections and initial production response in tertiary flooding projects, estimated
costs, production rates and volumes or forecasts thereof, hydrocarbon reserve quantities and values, CO2 reserves, helium reserves,
potential reserves from tertiary operations, future hydrocarbon prices or assumptions, liquidity, cash flows, availability of capital, borrowing
capacity, finding costs, rates of return, overall economics, net asset values, potential reserves and anticipated production growth rates in
our CO2 models, 2012 and future production and expenditure estimates, and availability and cost of equipment and services. These
forward-looking statements are generally accompanied by words such as “estimated”, “preliminary”, “projected”, “potential”, “anticipated”,
“forecasted” or other words that convey the uncertainty of future events or outcomes. These statements are based on management’s
current plans and assumptions and are subject to a number of risks and uncertainties as further outlined in our most recent Form 10-K
and Form 10-Q filed with the SEC. Therefore, the actual results may differ materially from the expectations, estimates or assumptions
expressed in or implied by any forward-looking statement made by or on behalf of the Company.
Cautionary Note to U.S. Investors – Current SEC rules regarding oil and gas reserve information allow oil and gas companies to disclose
in filings with the SEC not only proved reserves, but also probable and possible reserves that meet the SEC’s definitions of such terms.
We disclose only proved reserves in our filings with the SEC. Denbury’s proved reserves as of December 31, 2011 were estimated by
DeGolyer & MacNaughton, an independent petroleum engineering firm. In this presentation, we make reference to probable and possible
reserves, some of which have been prepared by our independent engineers and some of which have been prepared by Denbury’s
internal staff of engineers. In this presentation, we also refer to estimates of resource “potential” or other descriptions of volumes
potentially recoverable, which in addition to reserves generally classifiable as probable and possible (2P and 3P reserves), include
estimates of reserves that do not rise to the standards for possible reserves, and which SEC guidelines strictly prohibit us from including
in filings with the SEC. These estimates, as well as the estimates of probable and possible reserves, are by their nature more speculative
than estimates of proved reserves and are subject to greater uncertainties, and accordingly the likelihood of recovering those reserves is
subject to substantially greater risk.
27
29. CO2 EOR is a Proven Process
History of CO2 EOR
Significant CO2 EOR Operators by Region
● 1910’s-1970’s – CO2 Field Discoveries (Bravo Dome,
Gulf Coast Region
McElmo Dome, Jackson Dome, Sheep Mountain)
• Denbury Resources
● 1950’s-1960’s – Development & Testing
Permian Basin Region
• Occidental • Kinder Morgan ● 1972 – First Notable CO2 EOR Flood in Permian Basin
(SACROC)
• Whiting
Rockies Region ● 1973– First Notable CO2 EOR Flood in Gulf Coast
(Little Creek)
• Denbury Resources • Anadarko
Canada ● 1986 – First Notable CO2 EOR Flood in Rockies
• Cenovus • Apache
(Rangely)
● 2000 – First Anthropogenic CO2 EOR Flood
Significant CO2 Suppliers by Region (Weyburn/Canada)
Gulf Coast Region Denbury is the 2nd Largest CO2 EOR
• Jackson Dome, MS (Denbury Resources) Producer in North America(1)
Permian Basin Region
• Bravo Dome, NM (Kinder Morgan, Occidental)
DGC
• McElmo Dome, CO (ExxonMobil, Kinder Morgan)
• Sheep Mountain, CO (ExxonMobil, Occidental) Lost
Riley Ridge Cabin
Rockies Region & LaBarge
• Riley Ridge, WY (Denbury Resources)
McElmo
• LaBarge, WY (ExxonMobil) Dome Bravo
• Lost Cabin, WY (ConocoPhillips) Dome
Canada Jackson
Dome
• Dakota Gasification – Anthropogenic (Cenovus, Apache) Significant CO2 Source
(1) Based on net production interests from company filings for quarter ended 3/31/2012.
29
30. CO2 Operations: Oil Recovery Process
CO2 PIPELINE - from Jackson Dome INJECTION WELL - Injects
CO2 in dense phase
PRODUCTION WELLS
Produce oil, water and CO2
Oil Formation (CO2 is recycled)
CO2 moves through
formation mixing with
oil droplets,
expanding them and
Model for Oil Recovery Using CO2 is +/- 17% moving them to
of Original Oil in Place (Based on Little Creek) producing wells.
Primary recovery = +/- 20%
Secondary recovery (waterfloods) = +/- 18%
Tertiary (CO2) = +/- 17%
30
31. CO2 EOR Generalized Type Curve
Plateau
Production Rate
Incline (Yrs) Plateau (Yrs) Decline (Yrs)
Large Fields 6 6.5 30
Average Fields 4.5 5.5 25
Small Fields 4 5 20
31
32. Capital Spending Range for CO2 Floods
100
90
80
% of Total Capital
70
60
50
40
30
20
10
0
1 2 3 4 5
Year
32
33. Production by Area (BOE/d)
Operating area 2Q11 3Q11 4Q11 2011 1Q12(1) 2Q12(1) 2012E(1),(2)
Tertiary Oil Fields 30,771 31,091 31,144 30,959 33,257 35,208 33,000 - 36,000
Mississippi 5,642 5,636 4,746 5,486 4,573 4,095 4,450
Texas 4,202 4,096 3,868 4,133 3,674 4,573 4,650
Louisiana 454 47 141 287 191 189 150
Alabama & Other 1,079 1,064 1,031 1,049 1,090 1,117 950
Cedar Creek Anticline 8,925 8,930 8,858 8,968 8,496 8,535 8,300
Bakken 7,626 9,976 11,743 8,788 15,114 15,208 14,350- 16,350
Other Rockies 3,629 3,578 3,373 3,520 3,375 3,355 3,500
Total Continuing Production 62,328 64,418 64,904 63,190 69,770 72,280 69,350 - 74,350
Gulf Coast Non-Core Properties 1,901 1,732 1,677 1,805 1,054 --- 250
Paradox Basin Properties 690 680 653 665 708 57 175
Total Production 64,919 66,830 67,234 65,660 71,532 72,337 69,775 - 74,775
~93% Oil
(1) In February and April 2012, we sold non-core Gulf Coast and Paradox Basin assets in separate transactions for combined net proceeds of $213 million. The combined average
annual production from with these assets in 2012 was estimated at 2,050 BOE/d. Due to their contribution to our production during the period we owned them in 2012, the sale
reduced our 2012 average annual production estimates by 1,625 BOE/d.
(2) In June 2012 we acquired Thompson field for $360 million, before working capital adjustments. Expected average production from the assets for the remainder of 2012 is estimated at
2,000 BOE/d. The acquisition increased our 2012 average annual production estimates by 1,150 BOE/d as the acquired assets will only contribute to our production for approximately
seven months in 2012.
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34. Tertiary Production by Field
Average Daily Production (BOE/d)
Field 2Q11 3Q11 4Q11 1Q12 2Q12
Phase 1
Brookhaven 3,213 3,030 3,121 3,014 2,779
Little Creek Area 1,636 1,533 1,445 1,216 1,131
Mallalieu Area 2,646 2,620 2,587 2,585 2,461
McComb Area 1,983 2,005 1,843 1,746 1,902
Lockhart Crossing 1,560 1,346 1,304 1,284 1,313
Phase 2
Martinville 416 453 481 551 480
Eucutta 3,114 2,985 3,139 3,090 2,870
Soso 2,317 2,331 2,162 2,063 1,947
Heidelberg 3,548 3,141 3,728 3,583 3,823
Phase 3
Tinsley 6,990 7,075 6,338 7,297 8,168
Phase 4
Cranfield 1,085 1,214 1,200 1,152 1,094
Phase 5
Delhi 2,263 3,358 3,778 4,181 4,023
Phase 7
Hastings --- --- --- 618 1,913
Phase 8
Oyster Bayou --- 18 877 1,304
Total Tertiary Production 30,771 31,091 31,144 33,257 35,208
34
35. Analysis of Tertiary Operating Costs
Correlation 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12
w/Oil $/Bbl $/Bbl $/Bbl $/Bbl $/Bbl $/Bbl $/Bbl $/Bbl $/Bbl
CO2 Costs Direct $4.73 $4.52 $5.38 $5.39 $5.43 $4.87 $4.53 $5.76 $5.14
Power & Fuel Partially 5.82 6.03 5.76 6.12 6.17 6.24 6.71 6.71 6.69
Labor & Overhead None 3.50 3.70 3.43 3.94 3.77 3.85 3.90 4.59 4.64
Equipment Rental None 2.02 1.93 1.79 2.20 1.52 2.28 2.38 2.30 0.15
Chemicals Partially 1.41 1.73 1.67 1.62 1.44 1.80 1.67 1.63 1.27
Workovers Partially 1.62 2.78 2.36 3.75 2.53 3.44 2.68 3.43 3.01
Other None 1.56 1.68 1.34 1.91 2.01 2.43 1.72 2.32 2.05
(1)
Total $20.66 $22.37 $21.73 $24.93 $22.87 $24.91 $23.59 $26.74 $22.95
NYMEX Oil Price $78.12 $76.10 $85.16 $94.26 $102.58 $89.60 $93.93 $102.87 $93.49
(1) Due to a change in classification of equipment leases, tertiary lease operating expense were reduced by $2.57/bbl in the second quarter.
35
36. Potential Carbon Gasification Projects
● Denbury purchase contracts (contingent on plants being completed)
Initial production expected +/- 4 years after construction begins (not before 2015)
Gulf Coast Sources ($0.29 to $0.44/Mcf @ $60 Oil) MMCFD
Mississippi Power (4) (2014) Currently Under +/- 115
Construction
Air Products (Port Arthur, TX) (4) (Q1 2013) 50
Lake Charles Cogeneration LLC (3) 190 – 240
Mississippi Gasification (SNG) (1) (2) (3) 170 – 225
Midwest Sources ($0.20/Mcf @ $60 Oil) MMCFD
Indiana Gasification (SNG) (1) (2) 230 – 300
Power Holdings of Illinois (SNG) (1) 250 – 300
Christian County Generation/Tenaska of Illinois (SNG) (1) (2) (5) 170 – 225
Cash Creek Kentucky (SNG) (1) 190 – 210
(1) Requires additional supplies and additional pipeline.
(2) In term sheet negotiation phase under the U.S. Department of Energy Loan Guarantee Program.
(3) Denbury and Producer selected for DOE Grant FOA-0000015 (grant dollars, not loan guarantees).
(4) Under Construction
(5) Contingent on having pipeline capacity.
36
37. Rockies Anthropogenic CO2
Rocky Mountain Purchase Contracts MMCFD
COP Lost Cabin (Central Wyoming) (Q1 2013) Currently Under +/- 50
Construction
XOM LaBarge (SW Wyoming) (1) (Q3 2012) +/- 50
DKRW Medicine Bow (SE Wyoming) (2) (+/- 2016) +/- 100
Rocky Mountain CO2 Ownership MMCFD
Riley Ridge Unit - LaBarge (SW Wyoming) (2016) +/- 130(4)
Rocky Mountain Potential Sources MMCFD
GasTech (NE Wyoming) +/- 115
Quintana South Heart Project (SW North Dakota) +/- 100
Dakota Gasification (SW North Dakota) (3) +/- 250
(1) Grieve Field Contract – Potential for more XOM supply.
(2) In term sheet negotiation phase under the U.S. Department of Energy Loan Guarantee Program.
(3) Includes volumes currently under contract by third parties
(4) Initial capacity, potential to increase to +/- 600 MMCFD by 2021
37
38. Bakken Area Production Zones
Approx. Net
Productive Zone Estimated
Acreage
Area MB TFS Wells/DSU (1,000’s)
Charlson 6 15
Murphy Creek 6 18
Bear Creek 6 10
Cherry 6 66
Lone Butte 6 9
Camp/Indian Hills ? 6 16
NE Foothills ? 3 10
Old Shale Play 6 46
Montana & Other Areas ? 3 12
Total 202
38
39. Thompson Field, Fort Bend County, Texas
Thompson Field
● Acquired in June 2012 for ~$366 million cash(1)
● Denbury is the operator with a nearly 100% working interest and 84.7% net revenue interest
● Original oil in place of ~650 MMBbls, with zones initially targeted for CO2 flood estimated to have
~300 MMBbls of OOIP
● Potential tertiary oil reserves between 30-60 MMBbls (based on recovery factor from other Gulf
Coast CO2 floods)
● Requires ~18 mile pipeline extension to Green Pipeline
● Estimated 2012 development costs ~$12 million
● Estimated average production for remainder of 2012 18 mi
of 2,000 net BOPD Hastings
Thompson
● Proved reserves of 12.3 MMBbls as of 6/30/12
● Estimated potential of additional 5 MMBbls of conventional reserves
(1) Under the terms of the acquisition agreement, the seller will retain approximately a 5% gross revenue interest (less severance taxes) beginning
when average monthly production exceeds 3,000 bbls/d after the initiation of CO2 injection.
39
40. Encore Acquisition was Highly Profitable
Purchase price: (Billions)
Equity $2.8
Debt assumed 1.0
(1)
Total value $3.8
Value: (Estimated values at $79.43/Bbl – 12/31/10 SEC Pricing)
Proved reserves at 12/31/10 $2.0 (2)
Proceeds from sold properties 1.5
Net cash flow from 3/9/10 to 12/31/10 0.3
Total $3.8
Additional potential:
Bakken potential (253 MMBOE) (3)
EOR potential (227 MMBOE)
(1) Excludes consolidated ENP debt and minority interest in ENP.
(2) Excludes sold properties, and ENP reserves.
(3) Current 3P estimates less 12/31/2010 reserves.
40
42. Capital Structure
($MM) 6/30/12
Cash $28
Bank credit facility (Borrowing base of $1.6 billion, matures May 2016) 520
9.750% Sr. Sub Notes due 2016 (Callable March 2013 at 104.875% of par) 411
9.500% Sr. Sub Notes due 2016 (Callable May 2013 at 104.75% of par) 235
8.250% Sr. Sub Notes due 2020 (Callable February 2015 at 104.125% of par) 996
6.375% Sr. Sub Notes due 2021 (Callable August 2016 at 103.18% of par) 400
Other Encore Sr. Sub Notes 4
Genesis pipeline financings / other capital leases 376
Total long-term debt $2,942
Equity 5,153
Total capitalization $8,095
2Q12 Annualized Adjusted cash flow from operations(1) $1,447
Debt to 2Q12 Annualized Adjusted cash flow from operations(1) 2.0x
Debt to total capitalization 36%
(1) A non-GAAP measure, please visit our website for a full reconciliation.
42