Thursday, April 01, 2010

Denbury Resources Profiting from Greenhouse Gases

Denbury Resources (DNR-$16.87) has completed its $4.5 billion purchase of Encore Acquisition Corp.

The Plano-based oil company makes its money by injecting carbon dioxide into depleted petroleum fields to recover lost production, and the integration of Encore will more than double the potential of its enhanced oil recovery (EOR) assets.

Anticipated tertiary production from Encore properties in the Rocky Mountains (Montana and Wyoming) fits nicely into Denbury’s overall EOR program, said chief executive officer Phil Ryhoek, and will provide production growth in 2015 and beyond, about the time when the company’s Gulf Coast tertiary fields are expected to hit production peaks.

Can Denbury Resources profit from greenhouse gas emissions?
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Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

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