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 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 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 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 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.
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.
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 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 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 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 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.
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.
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.
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.
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.
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.
Ridgeline presentation nov 3 2011 releaseRyan Johnson
Ridgeline Energy Services is an energy services technology company focused on providing water treatment solutions to the oil and gas industry using its proprietary technology. There is increasing demand for water treatment in the industry due to the rise of water-intensive production methods. Ridgeline's technology can efficiently treat contaminated water from fracking and produced water, enabling reuse and reducing costs. The economic opportunity for Ridgeline lies in capturing a share of the large market for water treatment in fracking, chemical flooding, and oil sands operations through volume-based treatment fees.
Richard Benedict, Indianapolis Power & Light Company (IPL) - Speaker at the marcus evans Generation Summit 2012, held in San Antonio, TX, delevered his presentation entitled “Hello My Old Friend” – The Resurgence of Natural Gas as the Power Generation Fuel of Choice
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,
6th annual latam ceo conference itau bba (inglês)Braskem_RI
This document provides an overview of Braskem's 6th Annual Latam CEO Conference. It discusses Braskem's vision, growth pipeline projects, and the global petrochemical industry outlook. Braskem aims to become the global sustainable chemical leader through projects in Brazil, Latin America, and sustainable chemicals focusing on renewable raw materials. Their growth pipeline includes projects in Brazil, Mexico, and Peru that will add over 2 million tons of annual ethylene and polyethylene capacity by 2015. The document also analyzes trends in the global petrochemical industry including higher naphtha and resin prices, scheduled maintenance shutdowns, and strong global demand expected to outpace new capacity additions.
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.
This document provides a prospectus for a multi-client study that will benchmark options for utilizing and converting natural gas given increased shale gas production in North America. The study will examine opportunities for liquefied natural gas, gas-to-liquids fuels, chemicals and NGLs production. It will address key questions around relevant markets, costs, technologies and competitive activities to provide actionable insights for stakeholders. The prospectus outlines the comprehensive scope of the planned study, including analyses of economics at different scales and locations across North America and profiling of recent industry proposals and technology developments.
Presentation by Theresa Kotanchek, vice president for sustainable technologie...ajagger
Delivering a Sustainable Future Through Innovation - presentation by Theresa Kotanchek, vice president for sustainable
technologies and innovation sourcing, Dow Chemical
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.
This document is Burlington Resources Inc.'s annual report (Form 10-K) filed with the Securities and Exchange Commission for the fiscal year ending December 31, 2001. It summarizes Burlington Resources' business operations including that it is engaged in oil and gas exploration, development, production and marketing and is one of North America's largest natural gas producers. It also describes Burlington Resources' acquisition of Canadian Hunter Exploration Ltd. in December 2001, which added attractive producing properties, long-lived reserves and exploration potential located primarily in Western Canada.
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.
Leland Energy, Inc. has extensive experience developing oil and gas properties across the United States. The Opportunity Drilling & Acquisition Fund will acquire existing producing wells in Colorado and drill 12 new wells across Colorado and Tennessee. The fund offers investors exposure to current production and upside potential from development drilling in established fields with historically high success rates.
Combined impact of climate change and hydropower development on flows of the ...tacochrane
Piman, T., Cochrane, T.A. and Arias, M. E. (2012) Combined Impact of Climate Change and Hydropower Development on Flows of the Sre Kong, Se San and Sre Pok Rivers in the Mekong Basin. IWA (International Water Association) World Congress on Water, Climate and Energy. Dublin, Ireland, 13-18 May 2012.
Form 8933 Carbon Dioxide Sequestration Credit taxman taxman
1) The document is Form 8933, which is used to claim the carbon dioxide sequestration credit. The credit is $20 per metric ton of qualified carbon dioxide captured and disposed of in secure geological storage, and $10 per metric ton captured and used as a tertiary injectant in an enhanced oil or gas recovery project.
2) Qualified carbon dioxide must be captured from an industrial source, measured and verified, and disposed of or used within the United States. A qualified facility is an industrial facility that captures over 500,000 metric tons annually.
3) Lines 1 and 2 of Form 8933 are used to calculate the credit based on metric tons captured and stored or used as a tert
This document summarizes the operations of Canadian Arrow Mines Ltd., including its two main nickel projects in Ontario, Canada: Kenbridge and Timmins. Key points include that Kenbridge has an existing NI 43-101 resource of 80 million pounds of nickel and 48 million pounds of copper. A preliminary economic assessment outlines plans for an open pit and underground mine with on-site processing facilities. The Timmins project includes two past-producing mines that could be restarted to provide early cash flow. Management aims to use funds from Timmins to develop Kenbridge over the next 2-3 years.
Magellan Petroleum is executing a turnaround strategy focused on maximizing value from existing oil and gas assets in the US, Australia, and UK. Key assets include 22,000 acres in Montana's Poplar Dome, which has several near-term reserve development opportunities, and Australian natural gas assets generating long-term revenue. The company has $40 million in cash and a portfolio of assets positioned for improved cash flow and reserve growth through development activities and new contracts.
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.
The ancient Armenians celebrated the New Year on March 21st, the first day of spring and the birthday of the mythical god Vahagn. They prepared huge feasts to welcome the new year. In the 18th century, January 1st was adopted as the New Year, though some regions continued celebrating in March. By the late 20th century, January 1st was universally celebrated. On New Year's Eve, children would sing songs and greet neighbors, often receiving fruit. Decorating trees was not a tradition. Families would exchange gifts, though wives did not receive gifts from husbands. Traditional meals included dried fruits, nuts, pastries and dolma. New Year's celebrations now include parks parties that are environmentally conscious
The document provides an overview of several major genocides that occurred in the 20th century. It begins by defining genocide and discussing Winston Churchill's description of brutality by German forces in Russia in 1941. It then outlines several genocides including the Herero Genocide in Namibia from 1904-1905, the Armenian Genocide from 1915-1923, the Ukrainian Famine from 1932-1933, the Nanking Massacre from 1937-1938, the Holocaust from 1942-1945, the Cambodian Genocide from 1975-1979, and the Rwandan Genocide in 1994. For each genocide, it provides brief details about the events and death tolls.
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.
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.
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.
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.
Ridgeline presentation nov 3 2011 releaseRyan Johnson
Ridgeline Energy Services is an energy services technology company focused on providing water treatment solutions to the oil and gas industry using its proprietary technology. There is increasing demand for water treatment in the industry due to the rise of water-intensive production methods. Ridgeline's technology can efficiently treat contaminated water from fracking and produced water, enabling reuse and reducing costs. The economic opportunity for Ridgeline lies in capturing a share of the large market for water treatment in fracking, chemical flooding, and oil sands operations through volume-based treatment fees.
Richard Benedict, Indianapolis Power & Light Company (IPL) - Speaker at the marcus evans Generation Summit 2012, held in San Antonio, TX, delevered his presentation entitled “Hello My Old Friend” – The Resurgence of Natural Gas as the Power Generation Fuel of Choice
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,
6th annual latam ceo conference itau bba (inglês)Braskem_RI
This document provides an overview of Braskem's 6th Annual Latam CEO Conference. It discusses Braskem's vision, growth pipeline projects, and the global petrochemical industry outlook. Braskem aims to become the global sustainable chemical leader through projects in Brazil, Latin America, and sustainable chemicals focusing on renewable raw materials. Their growth pipeline includes projects in Brazil, Mexico, and Peru that will add over 2 million tons of annual ethylene and polyethylene capacity by 2015. The document also analyzes trends in the global petrochemical industry including higher naphtha and resin prices, scheduled maintenance shutdowns, and strong global demand expected to outpace new capacity additions.
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.
This document provides a prospectus for a multi-client study that will benchmark options for utilizing and converting natural gas given increased shale gas production in North America. The study will examine opportunities for liquefied natural gas, gas-to-liquids fuels, chemicals and NGLs production. It will address key questions around relevant markets, costs, technologies and competitive activities to provide actionable insights for stakeholders. The prospectus outlines the comprehensive scope of the planned study, including analyses of economics at different scales and locations across North America and profiling of recent industry proposals and technology developments.
Presentation by Theresa Kotanchek, vice president for sustainable technologie...ajagger
Delivering a Sustainable Future Through Innovation - presentation by Theresa Kotanchek, vice president for sustainable
technologies and innovation sourcing, Dow Chemical
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.
This document is Burlington Resources Inc.'s annual report (Form 10-K) filed with the Securities and Exchange Commission for the fiscal year ending December 31, 2001. It summarizes Burlington Resources' business operations including that it is engaged in oil and gas exploration, development, production and marketing and is one of North America's largest natural gas producers. It also describes Burlington Resources' acquisition of Canadian Hunter Exploration Ltd. in December 2001, which added attractive producing properties, long-lived reserves and exploration potential located primarily in Western Canada.
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.
Leland Energy, Inc. has extensive experience developing oil and gas properties across the United States. The Opportunity Drilling & Acquisition Fund will acquire existing producing wells in Colorado and drill 12 new wells across Colorado and Tennessee. The fund offers investors exposure to current production and upside potential from development drilling in established fields with historically high success rates.
Combined impact of climate change and hydropower development on flows of the ...tacochrane
Piman, T., Cochrane, T.A. and Arias, M. E. (2012) Combined Impact of Climate Change and Hydropower Development on Flows of the Sre Kong, Se San and Sre Pok Rivers in the Mekong Basin. IWA (International Water Association) World Congress on Water, Climate and Energy. Dublin, Ireland, 13-18 May 2012.
Form 8933 Carbon Dioxide Sequestration Credit taxman taxman
1) The document is Form 8933, which is used to claim the carbon dioxide sequestration credit. The credit is $20 per metric ton of qualified carbon dioxide captured and disposed of in secure geological storage, and $10 per metric ton captured and used as a tertiary injectant in an enhanced oil or gas recovery project.
2) Qualified carbon dioxide must be captured from an industrial source, measured and verified, and disposed of or used within the United States. A qualified facility is an industrial facility that captures over 500,000 metric tons annually.
3) Lines 1 and 2 of Form 8933 are used to calculate the credit based on metric tons captured and stored or used as a tert
This document summarizes the operations of Canadian Arrow Mines Ltd., including its two main nickel projects in Ontario, Canada: Kenbridge and Timmins. Key points include that Kenbridge has an existing NI 43-101 resource of 80 million pounds of nickel and 48 million pounds of copper. A preliminary economic assessment outlines plans for an open pit and underground mine with on-site processing facilities. The Timmins project includes two past-producing mines that could be restarted to provide early cash flow. Management aims to use funds from Timmins to develop Kenbridge over the next 2-3 years.
Magellan Petroleum is executing a turnaround strategy focused on maximizing value from existing oil and gas assets in the US, Australia, and UK. Key assets include 22,000 acres in Montana's Poplar Dome, which has several near-term reserve development opportunities, and Australian natural gas assets generating long-term revenue. The company has $40 million in cash and a portfolio of assets positioned for improved cash flow and reserve growth through development activities and new contracts.
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.
The ancient Armenians celebrated the New Year on March 21st, the first day of spring and the birthday of the mythical god Vahagn. They prepared huge feasts to welcome the new year. In the 18th century, January 1st was adopted as the New Year, though some regions continued celebrating in March. By the late 20th century, January 1st was universally celebrated. On New Year's Eve, children would sing songs and greet neighbors, often receiving fruit. Decorating trees was not a tradition. Families would exchange gifts, though wives did not receive gifts from husbands. Traditional meals included dried fruits, nuts, pastries and dolma. New Year's celebrations now include parks parties that are environmentally conscious
The document provides an overview of several major genocides that occurred in the 20th century. It begins by defining genocide and discussing Winston Churchill's description of brutality by German forces in Russia in 1941. It then outlines several genocides including the Herero Genocide in Namibia from 1904-1905, the Armenian Genocide from 1915-1923, the Ukrainian Famine from 1932-1933, the Nanking Massacre from 1937-1938, the Holocaust from 1942-1945, the Cambodian Genocide from 1975-1979, and the Rwandan Genocide in 1994. For each genocide, it provides brief details about the events and death tolls.
Armenia is a landlocked country located in the Caucasus region. It has a population of about 3 million people and its capital and largest city is Yerevan. Armenians have lived in the area for thousands of years but it has been ruled by various larger empires throughout history. In the early 20th century, over 1 million Armenians were killed by the Ottoman Empire in what is known as the Armenian Genocide. Today, Armenia struggles with a weak economy, unemployment, and conflict with neighboring Turkey and Azerbaijan over the Nagorno-Karabakh region.
The document introduces the website www.welcomearmenia.com as a concise source of information about Armenia. The site provides details about Armenia's history, culture, traditions, modern life, political and economic situation, and nature. It highlights seven symbols of Armenia including Mount Ararat, duduk musical instruments, cross-stones, apricots, and brandy. The site aims to help visitors plan trips, holidays, and business visits to Armenia by providing timely cultural and social information about the country.
Armenia is an ancient country located in the Caucasus region with a population of over 3 million. It was the first country to adopt Christianity as its official religion in 301 AD. The capital and largest city is Yerevan, home to over 1 million people. Armenia has a long history dating back 3000 years and is home to thousands of historic Christian sites like monasteries and churches.
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.
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.
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.
The document summarizes information about Pele Mountain Resources Inc.'s Eco Ridge rare earth and uranium project. Key points include:
- The project is located in Elliot Lake, Ontario, a proven rare earth mining camp, and has indicated resources of 124 million pounds of total rare earth oxides and 27 million pounds of uranium oxide.
- The preliminary economic assessment shows robust economics, with an after-tax IRR of 50% and payback of 1.5 years, based on production of over 97 million pounds of rare earth oxides and 27 million pounds of uranium oxide over an 11-year mine life.
- The project has competitive advantages from the proven mining camp, focus on critical
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.
This document discusses carbon offsets and provides information on how they work. It explains that carbon offsets represent the reduction of one metric ton of carbon dioxide or its equivalent in other greenhouse gases. It also outlines the basic process of how offsets work, which involves setting a baseline and emissions cap, issuing permits, and allowing trading to reduce emissions. The document notes there are over 200 project types that generate offsets and follows with some variations in offset programs and standards. It closes with considerations around whether offsets can scale effectively to address climate change and provides some caveats.
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.
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.
Climate for Life Presentation California Academy of SciencesMichael P Totten
Michael P Totten, Conservation International, presentation at the California Academy of Sciences on February 3, 2009, on the new book, A Climate for Life. Presents wide range of positive mitigation options for address threat of climate catastrophe, species extinction, and mass poverty. Roughly 50 slides, 6 Mb pdf file.
Linn Jp Morgan Hy Conference Final Website 3 3 2010Monster12
LINN Energy held a conference on March 3, 2010 to discuss its business operations and strategy. The company aims to acquire, develop and maximize cash flow from long-life oil and natural gas assets. It has a large, diversified reserve base of 1.8 trillion cubic feet equivalent and focuses on acquiring mature properties that can provide stable production and repeatable drilling opportunities. While acquisition costs have risen, LINN believes acquisition margins remain attractive due to current natural gas prices based on five-year forward strip prices exceeding typical costs.
Pele Mountain Resources Inc. is developing the Eco Ridge Rare Earth and Uranium Project located in Elliot Lake, Ontario. The project has an indicated resource of 48.7 million tonnes containing 124,295,000 lbs of total rare earth oxides and 27,661,000 lbs of uranium oxide. A preliminary economic assessment indicates the project could have an after-tax IRR of 50% and payback period of 1.5 years. The project is expected to produce critical rare earths, neodymium oxide, and uranium oxide, with production targeted to begin in 2015.
1) Denbury Resources is an oil and gas company that focuses on enhanced oil recovery using carbon dioxide injections.
2) They have a large inventory of mature oil fields well-suited for CO2 injections and own over 1,000 miles of pipelines to transport CO2.
3) CO2 enhanced oil recovery can recover significant amounts of additional oil, almost as much as primary and secondary recovery combined, extending the productive life of oil fields.
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.
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.
Web Mesh Agrobiodiversity Climate Water And Poverty Solutions 01 09Michael P Totten
Presentation on January 22, 2009, by Michael P Totten, Chief Advisor on Climate and Water at Conservation International, given tot the Los Angeles chapter of Bioneers. Interdisciplinary perspectives on solutions to climate catastrophe threat, species extinction threat, mass poverty, water shortages, oil and resource wars, using the Web tools for generating collective intelligence and social collaboration. Very positive outlook on seemingly intractable and irreversible perils confronting humanity this century. 13 Mb file. No voice over, but one with voice is forthcoming.
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
This document discusses the benefits of natural gas. It notes that natural gas supports millions of American jobs and national security by providing a domestic energy source. The shale gas revolution has unlocked vast domestic natural gas supplies in the United States through innovations like horizontal drilling and hydraulic fracturing. As natural gas production has increased, prices have remained stable and even dropped for industrial users and consumers in states like Florida, saving billions per year. The document also discusses how new pipeline infrastructure is expanding access to natural gas across the United States.
This document provides an overview of Petrobras' performance in 2010. The key points are:
1) Petrobras achieved three major milestones in 2010 - starting up the Lula field pilot system, raising $69.9 billion in the world's largest equity issuance, and signing a contract guaranteeing the right to produce 5 billion barrels of oil.
2) Financially, net profit reached $19.18 billion, a 17% increase over 2009. Total oil and gas production was 2.58 million barrels per day.
3) Investments totaled $45.08 billion, an 8% increase over 2009, focused on increasing production, improving refining facilities, and expanding transportation
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.
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.
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.
C i A N Alik
Corporate Presentation
NYSE: DNR May/June 2012
2. A Different Kind of Oil Company
Leading CO2 Enhanced Oil Recovery (EOR) Company in the U.S. with a Unique Profile
• ~$9 billion enterprise value
$9
Scale • 71,532 BOE/d production (1Q12)
• 8% Increase vs. 4Q11(1)
• Highest operating margins and capital efficiency in peer group(2)
• 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
I f t t i l ith l
Platform • More than 1 billion barrels of potential oil reserves
• Experienced management team
• $1.16 billion of credit facility availability at 3/31/12
Liquidity
Sustainable • Sustainable EOR growth profile at 13-15% CAGR thru 2020
Growth • ~200k acres in oil-rich Bakken play with growing production
(1) Adjusted for asset sales completed in 2012.
(2) Please reference slides 13 and 15 for more information
2
3. Denbury at a Glance
Total 3P Reserves (12/31/11) ~1.3 BBOE
% Oil Production (1Q12) 93%
Market Cap (4/30/12)
p( ) ~$7 4 billion
$7.4
Total Net Debt (12/31/11) $2.5 billion
Total Daily Production (1Q12) 71,532 BOE/d
Proved PV-10 (12/31/11) $96 19 NYMEX Oil Price
PV 10 $96.19 $10.6
$10 6 billion
CO2 3P Reserves (12/31/11) ~16 Tcf
CO2 Pipelines Controlled & Under Construction ~1,000 miles
Credit Facility Availability (3/31/12) $1.16
$1 16 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
T ti
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
Denbury Gulf Coast Region
Existing CO2 Pipelines 487 Million 3P EOR Barrels
CO2 Pipelines Under Development MS
Delta Pipeline Jackson
Denbury owned Rocky Mountain Fields Sonat MS Dome
Free State
With EOR Potential Pipeline Pipeline
Existing Anthropogenic CO2 Sources LA
TX
Green
Proposed Coal to Gas or Liquids Pipeline
Thompson
Existing or Proposed CO2 Source
Owned or Contracted
Estimated 3.4 to 7.5
Billion Barrels
Source: DOE 2005 and 2006 reports. Recoverable
Note: 3P total reserves as of 12/31/11, based on a variety of recovery factors.
5
6. Gulf Coast Region:
Control of CO2 Sources & Pipeline Infrastructure Provides a Strategic Advantage
Summary(1) Tinsley
Delhi
3 46 MMBbls
Proved 167
5 36 MMBbls Tinsley
Probable (2) 317 Jackson
Dome
Produced-to-Date 61
Delhi
Total (2) 545 Free State Pipeline
Davis
Quitman
(2) Heidelberg
4 31 MMBbls
Lake Sonat
Martinville
Summerland
Sandersville
Soso Cypress Creek
St. John Eucutta Yellow Creek
MS Pipeline
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
O
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 3/31/12 based on internal estimates. Fields Owned by Others – CO2 EOR Candidates
2) Using mid-points of range.
3) Recently announced acquisition expected to close June 1, 2012.
6
7. Rockies 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
Q intana
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 P
D b Proposed Pi li
d 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 12/31/2011
7
8. More than a Billion Barrels of Oil Potential
1,400
572 46
...... 100% ...... 1,285
86%
1,200 100%
Natural Oil
Oil
1,000
, Gas
MMBOE
800
205
85%
......
600
462 ...... Oil
400 77%
Oil
200
0
12/31/11 +Bakken +EOR +Riley
+Rile Ridge =Total
Total
Proven Drilling Potential (2) Natural Gas (2) Potential
Reserves (1) Potential (2)
(1) Based on year-end 12/31/2011 SEC proved reserves
(2) Estimates based on internal calculations, refer to slide 2
8
9. Thompson Field, Fort Bend County, Texas
Thompson Field
● Agreement to purchase for $360 million cash and a production payment
● Expect to close June 2012
● Denbury will be 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
30 60
Coast CO2 floods)
● Requires ~18 mile pipeline extension to Green Pipeline
● Estimated 2012 development costs ~$12 million
● Current production of 2,200 net BOPD 18 mi
Hastings
Thompson
● E ti t d 17 MMBbl of conventionall potentiall reserves
Estimated MMBbls f ti t ti
9
11. Highest Operating Margin in Peer Group(1)
$100
OE)
$
$90
ction ($/BO
$80
$70
Realized Av Price - All Produc
$68
$60
$50
A
$57
$
$60 $60
$40
$41 $37 $39
vg.
$30 $44 $33 $33
$20 $23
$18
$30
$10 $19 $17
$
R
$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
11
12. Being Oil-focused has its advantages(1)
120,000 $710,000
110,000 $610,000
BOE/d)
Total Wellhead Revenues ($M)
100,000
, $
$510,000
,
oduction (B
90,000 $410,000
Average Daily Pro
80,000 $310,000
s
70,000 $210,000
$
60,000 $110,000
50,000 $10,000
Peer A Peer B Peer C Peer D Peer E Peer F DNR Peer G Peer H
(1) Data derived from SEC filings, 3 months ended 3/31/12
12
13. Highest Capital Efficiency in Peer Group
Adjusted 3-Year Finding & Development Cost ($/BOE)(1)
$30.00
$26.90
$25.53 $24.54
$24 54 $24.24
$24 24 $23.58
$23 58
$25.00 $22.69 $21.74 $20.83 $20.45
$20.00
$16.75
$15.00 $12.80
$10.00
$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(2) Peer C Peer B
Adjusted Capital Efficiency Ratio
450%
397%
400%
350%
283% 282%
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) Adjusted to include changes in future development costs and change in unevaluated properties.
(2) Includes 3 year average DD&A for CO2 properties of $0.83 per BOE
13
14. Compelling Economics(1)
EOR Bakken
575,000 BOE / Well
Gulf Coast $9 6 Million / Well(2)
$9.6 ( )
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
14
15. 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
10 000
4 60
5 68
6 52
EPD)
8,000 7 52
Produuction (Bbls/d)
8 52
uction (BOE
9 45
6,000 Total $555
Produ
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.
15
16. Secure CO2 Supply to Support Gulf Coast Growth
2,500
Possible
2,000 2 Tcf
Probable
1,500 2.5 Tcf
MCFPD
MM
CO2 Recycle
1,000 3.3 Tcf
(Proved Only)
Jackson Dome Anthropogenic Supply
A th i S l
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.
16
17. Secure CO2 Supply to Support Rocky Mountain Growth
LaBarge Field
● Estimated Field Size: 750 Square Miles
● E ti t d 100 TCF of CO2 R
Estimated f Recoverable
bl
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
2.2
232 Miles
1) Proved reserves as of 12/31/2011
17
18. Third Growth Platform (Bakken Area)
Bakken Area
● ~200,000 net acres
Nesson
● ~300 MMBOE of total potential Anticline
93.9 MMBOE Proved as of 12/31/2011
● 2011 Production – 8,788 BOE/d
● 1Q12 Production – 15,114 BOE/d
29% increase vs. 4Q11
● 2012E Production – 14,350-16,350 BOE/d
Net Bakken Production
20,000
15,114
15,000
11,743
11 743
BOE/d
9,976
10,000 7,626
5,193 5,728
4,500 4,657
5,000
Denbury’s Core Denbury’s Extensional
Bakken Area Bakken Areas
0
2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 DNR Acreage
18
19. Strong Financial Position
● $1.16 billion availability under Debt to Capitalization
credit facility on 3/31/12 (3/31/12)
36% Debt
Unused
Credit 100%
Facility
$1.6 billion borrowing base + (3/31/12) Cash – $217 million
Net revolver debt of ~$225 million at 3/31/12
19
20. 2012 Summary Guidance
2012 Capital Budget – $1.5 Billion(1)
p g 2012 Production Estimate
All Other Operating area
2011 1Q12 2012E 2012E
$100MM Tertiary Floods (
(BOE/d)
) (
(BOE/d)
) (
(BOE/d)
) g
growth
$430MM 33,000-
Tertiary Oil Fields 30,959 33,257 7-16%
Bakken 36,000
$480MM 14,350-
Bakken 8,788 15,114 63-86%
16,350
16 350
Total Continuing 68,200-
63,190 69,770 8-16%
CO2 Pipelines Production 73,200
CO2 Sources
$290MM
$
$200MM Total
65,660
65 660 71,532
71 532
68,625-
5-12%
Production(2) 73,625
Production per share will grow an
additional ~3.5% in 2012 as a result
3.5%
of stock re-purchased to date
(1) Excludes capitalized interest and capitalized EOR startup costs, estimated at $60 million, also net of estimated $75 million funded with equipment leases
(2) Initial guidance ranges provided in early November 2011 reduced by 1,625 BOE/d for sale of non-core assets in the Gulf Coast Region in February 2012, and the sale of
certain non-operated assets in the Greater Aneth Field in the Paradox Basin of Utah in April 2012. Production does not include contribution from properties Denbury agreed
to acquire for $360 million in a transaction expected to close in June 2012. Daily net production form these assets is estimated at approximately 2,200 Bbls/d.
20
21. Hedges Protect Against Downside in Near-Term(1)
Crude Oil (2) 2012 2013
2nd 1st 2nd 3rd 4th
2nd Half
Quarter Quarter Quarter Quarter Quarter
Approximate production hedged (3) ~85% ~85% ~85% ~80% ~80% ~60%
Principal price support $70 $80 $70 $75 $75 $80
Principal price ceilings ~$119 ~$129 ~$110 ~$117 ~$122 ~$125
Natural Gas 2012
Approximate production hedged (3) ~45%
Principal price support (primarily swaps) $6.30-6.85
(1) Figures are general estimates and averages as of 5/29/12. Please see SEC documents for details of derivative contracts.
(2) All crude oil derivative contracts are based on West Texas Intermediate (WTI) NYMEX price basis.
(3) Approximate percentage which may differ from anticipated results.
21
22. Sustainable EOR Growth through 2020 (1)
140,000 1,400
Expected Peak
EOR Cap-Ex
Estimated EOR Production (Bbls/d)
Estimated EOR Capit Budget ($MM)
120,000 120,000 1,200
t
100,000 100,000
1,000
EOR 2012E
Cap-Ex
80,000 800
tal
EOR 2020E
60,000 600
Cap-Ex
● O ster Bayou
Oyster Ba o
40,000 ● Hastings 400
● Bell Creek
30,946
20,000 ● Conroe 200
E
● 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 2 for full disclosure.
22
23. CO2 EOR Generates Significant Free Cash Flow
Cumulative Gulf Coast Tertiary Free Cash Flows(1)
+/- $2 Billion
ative Free Cash Flow ($MM)
First Year of
Free Cash Flow
Cumula C
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 announced Thompson acquisition.
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 (2)
Operating Area to date Remaining 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
y y 2012 2012-13 0 --- 25
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 --- --- 75
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 announced acquisition of Thompson field
(2) Tertiary oil production only through 12/31/11
(3) Based on internal estimates of reserve recovery
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
g g gy
• Highest operating margin and capital efficiency in peer group
• Substantial free cash flow generation from CO2 EOR after up-front
investment in infrastructure
• 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, preliminary first quarter 2012 production, forecasted capital
expenditures, drilling activity, acquisition and dispositions p
p , g y, q p plans, development activities, timing of CO2 injections and initial p
, p , g j 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
expectations, forward looking
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.
SEC s
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
risk.
27
29. CO2 EOR is a Proven Process
Significant CO2 EOR Operators by Region History of CO2 EOR
Gulf Coast Region ● 1910’s-1970’s – CO2 Field Discoveries (Bravo Dome,
• Denbury Resources McElmo Dome, Jackson Dome Sheep Mountain)
Dome Dome,
Permian Basin Region ● 1950’s-1960’s – Development & Testing
• Occidental • Kinder Morgan ● 1972 – First Notable CO2 EOR Flood in Permian Basin
• Whiting (SACROC)
Rockies Region ● 1973– First Notable CO2 EOR Flood in Gulf Coast
• Denbury Resources • Anadarko (Little Creek)
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
• Jackson Dome, MS (Denbury Resources)
Permian Basin Region Denbury is the 2nd Largest CO2 EOR
• Bravo Dome, NM (Kinder Morgan, Occidental)
• McElmo Dome, CO (ExxonMobil, Kinder Morgan) Producer in North America(1)
• Sheep Mountain, CO (ExxonMobil, Occidental)
g
Rockies Region
• Riley Ridge, WY (Denbury Resources)
• LaBarge, WY (ExxonMobil)
• Lost Cabin, WY (ConocoPhillips)
Canada
• Dakota Gasification – Anthropogenic (Cenovus Apache)
(Cenovus,
(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
p
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)
g ( ) producing wells.
Primary recovery = +/- 20%
Secondary recovery (waterfloods) = +/- 18%
Tertiary (CO2) = +/- 17%
30
31. CO2 EOR Generalized Type Curve
Plateau
Productio Rate
P on
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. Production by Area (BOE/d)
Operating area 1Q11 2Q11 3Q11 4Q11 2011 1Q12(1) 2012E(1)
Tertiary Oil Fields 30,825 30,771 31,091 31,144 30,959 33,257 33,000 - 36,000
Mississippi 5,930 5,642 5,636 4,746 5,486 4,573 4,450
Texas 4,371 4,202 4,096 3,868 4,133 3,674 3,500
Louisiana 511 454 47 141 287 191 150
Alabama & Other 1,020 1,079 1,064 1,031 1,049 1,090 950
Cedar Creek Anticline 9,163 8,925 8,930 8,858 8,968 8,496 8,300
Bakken 5,728 7,626 9,976 11,743 8,788 15,114 14,350- 16,350
Other Rockies 3,503 3,629 3,578 3,373 3,520 3,375 3,500
Total Continuing Production 61,051 62,328 64,418 64,904 63,190 69,770 68,200 - 73,200
Disposed Legacy Encore Properties --- --- --- --- --- --- ---
Disposed ENP Properties --- --- --- --- --- --- ---
Gulf Coast Non-Core Properties 1,918 1,901 1,732 1,677 1,805 1,054 250
Paradox Basin Properties 635 690 680 653 665 708 175
Total Production 63,604 64,919 66,830 67,234 65,660 71,532 68,625 - 73,625
~90% Oil
(1) In February 2012, Denbury sold certain non-core Gulf Coast assets for $155 million. The production associated with these assets was estimated at 1,400 BOE/d for
2012. In April 2012, we sold non-operated assets in the Paradox Basin for $75 million with production estimated at 650 BOE/d for 2012. Accordingly, we have adjusted
our original production guidance for 2012 to remove approximately 1,625 BOE/d of production due to the sale of these assets. Production does not include the
contribution from properties Denbury agreed to acquire for $360 million in a transaction expected to close in June 2012. Daily net production from these assets is
estimated at approximately 2,200 Bbls/d.
32
34. Analysis of Tertiary Operating Costs
Correlation 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
w/Oil $/BOE $/BOE $/BOE $/BOE $/BOE $/BOE $/BOE $/BOE $/BOE
CO2 Costs Direct $4.50 $4.73 $4.52 $5.38 $5.39 $5.43 $4.87 $4.53 $5.76
Power & Fuel Partially 6.12 5.82 6.03 5.76 6.12 6.17 6.24 6.71 $6.71
Labor & Overhead None 3.58 3.50 3.70 3.43 3.94 3.77 3.85 3.90 $4.59
Equipment Rental None 2.13 2.02 1.93 1.79 2.20 1.52 2.28 2.38 $2.30
Chemicals Partially 1.41 1.41 1.73 1.67 1.62 1.44 1.80 1.67 $1.63
Workovers Partially 2.97 1.62 2.78 2.36 3.75 2.53 3.44 2.68 $3.43
Other None 1.21 1.56 1.68 1.34 1.91 2.01 2.43 1.72 $2.32
Total $21.92 $20.66 $22.37 $21.73 $24.93 $22.87 $24.91 $23.59 $26.74
$21 92 $20 66 $22 37 $21 73 $24 93 $22 87 $24 91 $23 59 $26 74
NYMEX Oil Price $78.61 $78.12 $76.10 $85.16 $94.26 $102.58 $89.60 $93.93 $102.87
Beginning in November 2011, Ad Valorem Taxes and any other production taxes that had previously been recorded as a part of LOE are no longer in LOE. These taxes
are now reflected in the “Taxes other than income” category. To maintain comparability, all prior period LOE in this analysis have been restated to reflect these changes.
34
35. 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 P d
D b d Producer selected f DOE G t FOA 0000015 (
l t d for Grant FOA-0000015 (grant d ll
t dollars, not l
t loan guarantees).
t )
(4) Under Construction
(5) Contingent on having pipeline capacity.
35
36. Rockies Anthropogenic CO2
Rocky Mountain Purchase Contracts MMCFD
COP Lost Cabin (Central Wyoming) (Q1 2013) Currently U d
C tl 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
Gas ec (
GasTech (NE Wyoming)
yo g) +/- 115
/ 5
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
36
37. Most Recent Operated Bakken Well Activity
30-Day 60-Day 90-Day
Avg.(2) Avg.(2) Avg.(2) Unit Frac IP
Completed Well Area Formation IP (1) Acres Stages W. I. Date
(BOE/d) (BOE/d) (BOE/d)
Charlson 34-12 Charlson Bakken 1,441 524 538 477 640 15 58% 10/1/11
Rolfson 21-16 SEH Cherry Bakken 2,340 576 638 650 1,280 26 69% 10/17/11
Loomer 24-34 SEH Cherry Bakken 1,850 26(3) 362 459 1,280 26 59% 10/20/11
Rolfson 11-16 NEH Cherry Bakken 2,694 683 667 663 1,280 25 66% 10/26/11
Loomer 21-4 SWH Cherry Bakken 1,689 549 647 632 1,280 26 72% 11/23/11
Satter 31-1 SWH Cherry TFS 1,715 587 606 570 1,280 26 84% 11/30/11
Sorenson 31-28 SWH Cherry Bakken 1,614 38(4) 348 456 1,280 26 68% 12/2011
Bergem 44-28 NWH
g Cherry
y Bakken 1,170 327 333 290 1,280 20 55% 12/2011
Loomer 24-34 NEH Cherry Bakken 1,689 30 47 190(5) 1,280 26 49% 12/2011
Serrahn 41-6 SWH Cherry Bakken 2,035 815 608 623 1,280 26 75% 1/13/12
Stepanek 31 17 SWH
31-17 Camp Bakken 835 532 464 389 1,280
1 280 26 59% 1/10/12
Jore 34-22 NWH Cherry Bakken 2,060 816 721 679 1,280 26 48% 1/15/12
Satter 24-35 NEH Cherry Bakken 1,393 852 738 663 1,280 26 91% 1/21/12
(1) C
Consecutive 24 h
ti 24-hour t t in BOE/d
test i BOE/d. (4) CO Issues. Waiting t finish C
I W iti to fi i h Completion.
l ti
(2) Date from first significant production. (5) Pad issues. Last 30 Avg 464 BOE/d.
(3) Dual Pad. Waiting on NEH clean-out to open up.
37
38. Most Recent Operated Bakken Well Activity
30-Day 60-Day 90-Day
Avg.(2) Avg.(2) Avg.(2) Unit Frac IP
Completed Well Area Formation IP (1) Acres Stages W. I. Date
(BOE/d) (BOE/d) (BOE/d)
Satter 24-35 SEH Cherry Bakken 2,015 892 851 809 1,280 26 91% 1/24/12
Roen 24-23 NEH Camp Bakken 1,039 370 360 325 1,280 26 43% 2/13/12
Erickson 41-25 NWH Camp Bakken 1,153 337 359 N/A 1,280 26 42% 2/26/12
Erickson 41-25 SWH Camp Bakken 1,170 155(3) 202 N/A 1,280 15 40% 3/6/12
Nelson 24-11 NEH
24 11 Cherry Bakken 2,178
2 178 988 N/A N/A 1,280
1 280 26 81% 3/9/12
Johnson 24-31 NEH Cherry Bakken 2,091 808 648 N/A 1,280 26 98% 3/10/12
Iverson 34-19 NWH
34 19 Camp Bakken 809 N/A N/A N/A 1,280 26 69% 4/3/2012
Johnsrud 21-13 SEH(4) Cherry TFS 928 260 N/A N/A 1,280 26 87% 3/30/2012
(1) C
Consecutive 24 h
ti 24-hour t t in BOE/d
test i BOE/d. (3) D l P d I
Dual Pad. Impacted d t waiting on NWH clean-out.
t d due to iti l t
(2) Date from first significant production. (4) Completion Issues – partially stimulated.
38
39. Most Recent Operated Bakken Well Activity
30-Day 60-Day 90-Day
Avg.(2) Avg.(2) Avg.(2) Unit Frac IP
Completed Well Area Formation IP (1) Acres Stages W. I. Date
(BOE/d) (BOE/d) (BOE/d)
Lundin 11-13 SEH Cherry Bakken 2,663 N/A N/A N/A 1,280 26 87% 4/10/2012
Rink 12-4 SEH Cherry TFS 2,097 N/A N/A N/A 1,280 22 83% 4/23/2012
Murphy
Johnson 43-27 NWH TFS Flowing(3) N/A N/A N/A 1,280 22 81%
Creek
Murphy
Johnson 43-27 NEH TFS Flowing(3) N/A N/A N/A 1,280 14 51%
Creek
(1) Consecutive 24-hour test in BOE/d.
( )
(2) Date from first significant production.
g p
(3) Unloading completion fluid. No IP to date.
39
40. Most Recent Operated Bakken Well Activity
Frac Unit Frac
Completing Area Formation Date 30-Day Avg. Acreage Stages W. I.
Olson 34-19 NWH (1)
34 19 Cherry Bakken May 2012 N/A 1,280 24 79%
Olson 34-19 SWH (1) Cherry Bakken Shut in N/A 1,280 22 63%
Lund 44-8 NH Cherry Bakken May 2012 N/A 1,280 26 74%
Lund 44 8 SH
44-8 Cherry Bakken May 2012 N/A 640 16 94%
Tobacco Garden 41-18 SH Cherry Bakken May 2012 N/A 1,280 26 61%
Lundin 41-14 SWH Cherry TFS May 2012 N/A 1,280 22 78%
Lundin 11-4
L di 11 4 SH Cherry
Ch TFS June 2012
J N/A 640 16 66%
Spud Frac
Drilling Area Formation Date Frac Date Acreage Stages W. I.
Grimestad 34-33 NEH Charlson TFS 5/13/2012 7/2012 640 16 44%
James 41-3SH Camp TFS 4/20/2012 Non-op After Drill 1,280 22 24%
Amundson 44-22 NWH Cherry
y TFS 3/29/2012 6/2012 1,280
, 22 100%
Tobacco Garden 31-29NEH Cherry Bakken 3/31/2012 6/2012 1,280 22 66%
Tobacco Garden 31-29 SEH Cherry TFS 4/2/2012 6/2012 1,280 22 61%
Lund 26-18SH y
Cherry TFS 4/23/2012 7/2012 1,280 22 80%
(1) Dual Pad. Completion Issue on 34-19 NWH.
40
41. 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
41
42. Encore Acquisition was Highly Profitable
Purchase price: (Billions)
Equity $2.8
$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 0 (2)
Proceeds from sold properties 1.5
Net cash flow from 3/9/10 to 12/31/10 0.3
Total $3.8
Additional potential:
Bakken t ti l
B kk potential (253 MMBOE) (3)
EOR potential (227 MMBOE)
(1) Excludes consolidated ENP debt and minority interest in ENP.
ENP
(2) Excludes sold properties, and ENP reserves.
(3) Current 3P estimates less 12/31/2010 reserves.
42
44. Capital Structure
($MM) 3/31/12
Cash $217
Bank credit facility (Borrowing base of $1.6 billion, matures May 2016) 445
9.750% Sr. Sub Notes due 2016 (Callable March 2013 at 104.875% of par) 410
9.500% Sr
9 500% Sr. Sub Notes due 2016 (C ll bl M 2013 at 104 75% of par)
(Callable May t 104.75% f ) 236
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 E
Oth Encore Sr. Sub Notes
S S bN t 4
Genesis pipeline financings / other 255
Total long-term debt $2,746
Equity 4,928
Total capitalization $7,674
1Q12 Annualized Adjusted cash flow from operations(1)
( ) $1,408
$1 408
Debt to 1Q12 Annualized Adjusted cash flow from operations 1.9x
Debt to total capitalization 36%
(1) A non-GAAP measure, please visit our website for a full reconciliation.
44