Denbury Resources Hosts Analyst Conference; Updates Effects of Hurricane Lili.Business Editors DALLAS--(BUSINESS WIRE)--Oct. 16, 2002 Denbury Resources Inc. (NYSE NYSE See: New York Stock Exchange :DNR See dynamic noise reduction and domain name resolver. ), announced that it is hosting a conference for analysts on Oct. 17 and 18 in New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded with several of the Company's management presenting specific operational and financial updates. The slide presentation that will be used at the conference will be available on Denbury's website, www.denbury.com on Oct. 17, and will include updated operational and comparative financial data and an in-depth review of the Company's significant properties. To date, 23 sell-side analysts Sell-side analyst A financial analyst who works for a brokerage firm and whose recommendations are passed on to the brokerage firm's customers. Also called Wall Street analyst. and selected asset managers have signed up for the informational field trip to Little Creek Field on Thursday and the Friday morning New Orleans presentations. Registration is ongoing and can be made through the contact numbers below. The Company has returned most of its fields to production following Hurricane Lili This article is about the Atlantic hurricane in 2002. For other storms of the same name, see Hurricane Lili (disambiguation) Hurricane Lili was a powerful hurricane during the 2002 Atlantic hurricane season that caused damage across the Caribbean and into Louisiana. . Most fields had little or no damage and were back on production within a few days following the storm. One offshore field, South Marsh Island 49, which was recently producing between 1,300 and 1,500 barrels of oil equivalent per day ("BOE/d") net to the Company, suffered extensive damage. The Company expects to have 60-70% of this field's production restored within the next week or two, although the remaining 30-40% of its production capacity may take several weeks, or even months, to repair. The cost of these repairs is not expected to be significant to the Company as they should be covered by insurance (other than the deductible amount). The Company's preliminary estimates are that it has lost approximately 100,000 barrels of oil equivalent of production (predominately natural gas) from Oct. 1 through Oct. 15 due to the storm, with the only significant ongoing production losses coming from South Marsh Island 49 as previously outlined. This loss of revenue is not covered not covered Health care adjective Referring to a procedure, test or other health service to which a policy holder or insurance beneficiary is not entitled under the terms of the policy or payment system–eg, Medicare. Cf Covered. by insurance. As a point of reference, the Company expects to produce slightly more than 13.1 million BOEs during 2002. Denbury Resources Inc. (www.denbury.com) is a growing independent oil and gas company and since 1993, all of its assets have been located in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Company is the largest oil and natural gas operator in Mississippi, holds key operating acreage onshore Louisiana and has a growing presence in the offshore Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east areas. The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices. |
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