Denbury Says Most Gulf Coast Production Restored
Denbury says that production is gradually returning as electrical power is restored at the Company's oil fields. Currently, most of the production from the Company's tertiary operations in Southwest Mississippi and the Company's natural gas production in Southern Louisiana has been restored to near pre-storm levels. A significant portion of the Company's oil production is still shut-in in East Mississippi pending restoration of power. The Company estimates that approximately 10% of the Company's natural gas production and approximately 40% of its oil production remains shut-in. Since the Company is dependent on third parties to restore power, it is difficult to predict when remaining production will resume, but the Company anticipates that it will be a gradual restoration process over the next few weeks.
Denbury also announced that Gareth Roberts, Denbury's President and Chief Executive Officer, will be presenting at the Lehman Brothers CEO Energy/Power Conference in New York on September 8 at 9:05 a.m. EDT. The Lehman conference presentation will be webcast and available through Denbury's website, and archived for approximately 30 days thereafter.
Denbury Resources Inc. (www.denbury.com) is a growing independent
oil and gas company. The Company is the largest oil and natural gas
operator in Mississippi, owns the largest reserves of carbon dioxide
used for tertiary oil recovery east of the Mississippi River, and
holds significant operating acreage in onshore Louisiana. The Company
increases the value of acquired properties in its core areas through a
combination of exploitation drilling and proven engineering extraction
practices, including secondary and tertiary recovery operations.
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