Denbury Resources
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New lease agreements have secured more than 700 million metric tons of potential CO2 sequestration capacity.
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Denbury gains exclusive rights to develop the site on 75,000 acres near Mobile, Alabama.
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Add Denbury Resources to the list of oil companies filing for bankruptcy protection with a plan that may make for a quick trip through the debt-reduction process.
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Denbury Resources needs enhanced debt reduction. The company that does enhanced oil recovery using carbon dioxide it produces and transports has skipped a payment to creditors while it seeks a deal that would reduce its debts.
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With big shale mergers dominating the headlines, some of the industry’s most influential financial players gathered to discuss what’s driving the shift in operational and fiscal priorities.