Denbury Resources (DNR) Misses Q4 EPS by 2c

Denbury Resources (NYSE: DNR) reported Q4 EPS of ($0.01), $0.02 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $269.6 million versus the consensus estimate of $335.38 million.

2016 CAPITAL BUDGET AND ESTIMATED PRODUCTION

The Company’s 2016 capital budget, excluding acquisitions and capitalized interest, will be approximately $200 million, which has been budgeted at less than half of 2015 levels to more closely match the Company’s estimated cash flow from operations. At this spending level, the Company anticipates 2016 production of between 64,000 and 68,000 BOE/d, a decrease of approximately seven to twelve percent from 2015 levels, with approximately sixty percent of the decrease due to natural declines and the remainder due to production shut-in for economic reason

For earnings history and earnings-related data on Denbury Resources (DNR) click here.

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