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Denbury Resources Q3 net income decreases
Monday, November 09, 2009 5:54 AM


(Source: Datamonitor)trackingUS-based oil and gas exploration and production company Denbury Resources has reported a net income of $26.9 million, or $0.11 per diluted share, for the third quarter of 2009, compared to $157.5 million, or $0.63 per diluted share, for the same period of 2008.

The company has reported total revenues of $227.25 million for the third quarter of 2009, compared to $410.25 million for the same quarter of 2008.

Denbury Resources has reported a net loss of $78.65 million, or $0.32 per diluted share, for the first nine months of 2009, compared to a net income of $344.6 million, or $1.36 per diluted share, for the corresponding period of 2008.

Year-to-date total revenues were $618.4 million, compared to $1.14 billion for the first nine months of 2008.

Phil Rykhoek, CEO of Denbury Resources, said: "While our tertiary production is slightly below target this quarter, the tertiary production response during October was strong, putting us on a path to end 2009 with 25% tertiary growth year over year. Our Gulf Coast tertiary program is working well, in-line with projections."

A service of YellowBrix, Inc.



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