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PLANO, Texas, Oct. 17, 2016 -- Denbury Resources Inc. (NYSE:DNR) (“Denbury” or the “Company”) today announced that it has completed its fall 2016 semi-annual borrowing base redetermination under its revolving credit facility (“Facility”), and the syndicate of banks has reaffirmed the previously existing borrowing base of $1.05 billion, the same amount committed by the banks to loan under the Facility. A total of $260 million of borrowings were outstanding under the Facility at September 30, 2016. There were no changes to the terms or conditions of the Facility, and the next regularly scheduled borrowing base redetermination is set to occur on or about May 1, 2017.
Denbury today also announced that it will host a conference call to review and discuss third quarter 2016 financial and operating results, together with its financial and operating outlook for the remainder of 2016, on Thursday, November 3, 2016 at 10:00 A.M. (Central). The Company plans to issue its financial and operating results prior to the market opening on the same day. Individuals who would like to participate should dial the applicable dial-in number listed below ten minutes before the scheduled start time.
| What: Denbury Resources Third Quarter 2016 Results Conference Call |
| Date: Thursday, November 3, 2016 |
| Time: 10:00 A.M. (Central) / 11:00 A.M. (Eastern) |
| Dial-in numbers: 800.230.1093 (domestic) and 612.332.0226 (international) |
| Conference ID number: 361970 |
A live presentation webcast of the conference call will be available on the Company’s website at www.denbury.com. The webcast will be archived on the website and a telephonic replay will be accessible for at least one month after the call by dialing 800.475.6701 (domestic) or 320.365.3844 (international) and entering the conference ID number: 361970.
Denbury is an independent oil and natural gas company with operations focused in two key operating areas: the Gulf Coast and Rocky Mountain regions. The Company's goal is to increase the value of its properties through a combination of exploitation, drilling and proven engineering extraction practices, with the most significant emphasis relating to carbon dioxide enhanced oil recovery (CO2 EOR) operations. For more information about Denbury, please visit www.denbury.com.
DENBURY CONTACTS: John Mayer, Investor Relations, 972.673.2383 Ben Nelson, Financial Analyst, 972.673.2787
