Denbury Resources Inc. (NYSE:DNR) focus is on enhanced oil recovery utilizing CO2


Dallas, Texas 07/18/2013 (Financialstrend) – Denbury Resources Inc. (NYSE:DNR) produces natural gas and operates as an independent oil company in the United States. Its primary focus is on enhanced oil recovery utilizing CO2. The company’s operations are located in Mississippi, Texas, Louisiana, Alabama in the Gulf Coast region and in Montana and Wyoming in the Rocky Mountain region. There is a decline in domestic inventories of U.S. as reported by the Energy Information Administration. U.S. stock had decreased to 9.87 million barrels last week.

The company hosted a conference to review second quarter 2013 financial and operating results. The company had 461.9 million barrel of oil and also they acquired Cedar Creek Anticline. The Company’s operations are focused in various North American onshore areas in the Canada and United States. The Company’s objective is to increase the value of gained properties via a combination of drilling, exploitation and engineering extraction practices, with the most significant emphasis related to tertiary recovery operations. The DNR had recently been making minimal gains in the share prices to ensure short term marginal returns to its investors. It is however uncertain whether the stock would manage to present a long term bullish trend in its prices.

There had been a gain of 0.90% in the shares of Denbury Resources Inc. (NYSE:DNR) which closed at $17.96 per share on Wednesday. The stock had presented intraday fluctuations on the range of $17.77 to $18.01 per share, after opening at $17.85 for the day. The company had recorded 52 week low at $14.19 and 52 week high at $19.65 per share.

There are 373.53 million shares outstanding with a market cap of $6.71 billion and an institutional ownership of 98% of the total capital. The trading volume on Wednesday was 4.69 million shares and the average volume is at 4.48 million shares per day.