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Denbury Resources (DNR) Views?
Posted on 9/24/12 at 1:25 pm
Posted on 9/24/12 at 1:25 pm
Following recent announcemet of Bakken asset sales to XOM, the market basically yawned. Anyone following this one? Seems like they might have received good (top?) dollar for their Bakken assets, plus some other producing fields in their sweet spot (geographically). Thinking of getting some.
1
Posted on 9/24/12 at 3:36 pm to K E V 8 4
Chronically undervalued company. They are leaders in CO2 injection. I think they'd acquired that Bakken in a prior acquisition and they just cashed it plus picked up two quality CO2 candidate oil fields from XOM. They are a leader in CO2 injection, oil producer with a good balance sheet. I've owned them for years, but they never get the recognition they deserve....I do not work at Denbury. 
Posted on 9/24/12 at 4:59 pm to cwill
quote:
Chronically undervalued company. They are leaders in CO2 injection. I think they'd acquired that Bakken in a prior acquisition and they just cashed it plus picked up two quality CO2 candidate oil fields from XOM. They are a leader in CO2 injection, oil producer with a good balance sheet. I've owned them for years, but they never get the recognition they deserve....I do not work at Denbury.
They got the Bakken from buying Encore. They made a good move selling the Haynesville assets when gas was still worth finding and the sale last week you are talking about was cashing out the Encore Bakken. They also have the Tuscaloosa acreage that they farmed out to Encana, although I'm not sure what's left with any term. I'm with you that Denbury is set up to make nice profits with these continued high oil prices through their CO2 projects. They have control of almost all the gulf coast CO2 and I'm sure there are plenty more fields they will flood.
Posted on 9/24/12 at 5:11 pm to TigerDog83
so y'all are saying buy as much as you can?
Will do.
Will do.
This post was edited on 9/24/12 at 5:11 pm
Posted on 9/25/12 at 8:33 am to TigerDog83
cwill and TigerDog - thanks for those insights. I haven't followed them that closely, but they seem to be a buy. I'm bullish on long-term oil prices, so if oil prices do dip in the near-term, I won't be selling.
Posted on 9/25/12 at 10:44 am to K E V 8 4
If you like Denbury, have a look at Evolution Petroleum (EPM). They get a royalty on what DNR produces from the Delhi field.
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