Johnson Rice Downgrades Denbury Resources (DNR) to Hold

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Go back to Johnson Rice Downgrades Denbury Resources (DNR) to Hold

Denbury Reports 2015 Fourth Quarter and Annual Results and Reports Year-End 2015 Proved Reserves

February 18, 2016 6:30 AM EST

PLANO, Texas, Feb. 18, 2016 (GLOBE NEWSWIRE) -- Denbury Resources Inc. (NYSE: DNR) (Denbury or the Company) today announced an adjusted net loss(1) (a non-GAAP measure) of $3 million for the fourth quarter of 2015, or $0.01(1)(2) per diluted share.  On a GAAP basis, the Company recorded a quarterly net loss of $885 million, or $2.56 per diluted share.  The adjusted net loss(1) for the fourth quarter of 2015 differs from the GAAP net loss primarily due to the exclusion of a $1.3 billion ($832 million after tax) write-down of oil and natural gas properties.

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