Past year: ▼ 42%(31.20 – 58.75 USD)
Each one in plain English, with the numbers worked through for a shareholder.
1 May 2014debt financing● NeutralMajor
Denbury closed the $1.25 billion 5½% Senior Subordinated Notes due 2022 on 30 April 2014 and used the proceeds to buy about $815 million (roughly 82%) of the 8¼% notes due 2020 that were tendered by the deadline. It also called the rest for redemption on 30 May 2014 and discharged that indenture; remaining proceeds are to reduce bank credit facility borrowings and for general corporate purposes. This completes the refinancing announced on 17 April.
30 Apr 2014dividend declaration● Neutral
The board declared the regular quarterly dividend of $0.0625 per share, payable 24 June 2014 to holders of record on 27 May 2014. This is the same amount as the dividend declared in January 2014.
18 Apr 2014securities registration● Neutral
DENBURY INC filed a prospectus supplement for an offering off its existing shelf.
17 Apr 2014securities registration● Neutral
DENBURY INC filed a free-writing prospectus - marketing material for an offering in progress.
17 Apr 2014material agreement● NeutralMajor
Denbury agreed to sell $1.25 billion of 5½% Senior Subordinated Notes due 2022 (closing expected 30 April 2014) and launched a cash tender offer for all $996.273 million of its 8¼% Senior Subordinated Notes due 2020, paying for the purchase with the new notes' proceeds. It also amended its bank credit agreement (15 April 2014) to raise the cap on additional permitted subordinated debt from $650 million to $1.15 billion. Any 8¼% notes not tendered are to be redeemed with the new proceeds, so this refinances existing debt rather than adding new borrowing capacity by itself.
16 Apr 2014securities registration● Neutral
DENBURY INC filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
13 Feb 2014substantial holder notice● Neutral
Capital World Investors ** reported a DENBURY INC shareholding of 23,142,500 shares (6.30% of votes) in a periodic institutional filing.
12 Feb 2014substantial holder notice● Neutral
The Vanguard Group reported a DENBURY INC shareholding of 25,467,907 shares (6.94% of votes) in a periodic institutional filing.
29 Jan 2014dividend declaration▲ Good
Denbury's board declared a quarterly cash dividend of $0.0625 per share, payable 25 March 2014 to shareholders of record on 25 February 2014.
28 Jan 2014substantial holder notice● Neutral
BlackRock, Inc reported a DENBURY INC shareholding of 20,912,758 shares (5.70% of votes) in a periodic institutional filing.
7 Nov 2013quarterly activities report● Neutral
DENBURY INC reported a quarterly net income of $102.1 million for the period ended 2013-09-30.
5 Nov 2013quarterly activities report● Neutral
DENBURY INC reported a quarterly net income of $102.1 million for the period ended 2013-09-30.
6 Aug 2013quarterly activities report● Neutral
DENBURY INC reported a quarterly net income of $130.0 million for the period ended 2013-06-30.
6 Aug 2013quarterly activities report● Neutral
DENBURY INC reported a quarterly net income of $130.0 million for the period ended 2013-06-30.
10 May 2013quarterly activities report● Neutral
DENBURY INC reported a quarterly net income of $87.6 million for the period ended 2013-03-31.
2 May 2013quarterly activities report● Neutral
DENBURY INC reported a quarterly net income of $87.6 million for the period ended 2013-03-31.
21 Feb 2013quarterly activities report● Neutral
DENBURY INC reported a quarterly net income of $114.7 million for the period ended 2012-12-31.
15 Feb 2013substantial holder notice● Neutral
RS Investment Management Co. LLC, The Guardian Life Insurance Company of America, Guardian Investor Services LLC reported a DENBURY INC shareholding of 19,729,567 shares (5.10% of votes) in a periodic institutional filing.
14 Feb 2013substantial holder notice● Neutral
Wellington Management Company, LLP reported a DENBURY INC shareholding of 17,176,676 shares (4.44% of votes) in a periodic institutional filing.
13 Feb 2013substantial holder notice● Neutral
Capital World Investors ** reported a DENBURY INC shareholding of 41,788,300 shares (10.80% of votes) in a periodic institutional filing.
11 Feb 2013substantial holder notice● Neutral
The Vanguard Group reported a DENBURY INC shareholding of 22,994,504 shares (5.94% of votes) in a periodic institutional filing.
8 Feb 2013substantial holder notice● Neutral
BlackRock, Inc reported a DENBURY INC shareholding of 22,000,374 shares (5.69% of votes) in a periodic institutional filing.
5 Feb 2013debt financing● NeutralMajor
Denbury closed the $1.2 billion 4 5/8% notes due 2023 on 5 February 2013. It accepted about $191.7 million of the 9¾% notes (about 45%) and $186.6 million of the 9½% notes (about 83%) tendered early. It also called the remaining 9¾% notes for redemption on 7 March 2013 at $1,048.75 per $1,000, and stripped most restrictive covenants from the 9½% notes' indenture. This completes the refinancing started on 22 January; the tender offers stay open until 19 February 2013 unless extended.
4 Feb 2013quarterly activities report● Neutral
DENBURY INC reported a quarterly net income of $114.7 million for the period ended 2012-12-31.
28 Jan 2013material agreement● NeutralMajor
On 22 January 2013 Denbury agreed to sell $1.2 billion of 4.625% senior subordinated notes due 2023 and launched cash offers to buy back its 9¾% notes ($426.4 million) and 9½% notes ($224.9 million), both due 2016. Proceeds will fund the buybacks, then repay bank credit facility borrowings, then general corporate purposes.
24 Jan 2013securities registration● Neutral
DENBURY INC filed a prospectus supplement for an offering off its existing shelf.
23 Jan 2013securities registration● Neutral
DENBURY INC filed a free-writing prospectus - marketing material for an offering in progress.
22 Jan 2013securities registration● Neutral
DENBURY INC filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
15 Jan 2013material agreement● NeutralMajor
On 14 January 2013 Denbury agreed to buy producing Cedar Creek Anticline properties in Montana and North Dakota from ConocoPhillips' subsidiary for $1.05 billion in cash. It plans to pay from the ExxonMobil Bakken sale proceeds held in trust accounts. Closing is expected near the end of the first quarter of 2013, subject to due diligence and antitrust clearance.
26 Dec 2012asset acquisition disposition● NeutralMajor
The second and final closing of the ExxonMobil exchange took place on 21 December 2012, finishing the Bakken sale. For the retained 17.5% Bakken interest, Denbury took about one-third of ExxonMobil's CO2 reserves in the LaBarge Field in Wyoming plus residual cash, rather than the withheld $350 million. This resolves the open question from the first closing; a substantial part of the cash remains in trust accounts for possible tax-deferred purchases.
