overview

Denbury Inc., a Delaware corporation, is an independent energy company with 143.1 MMBOE of estimated proved oil and natural gas reserves as of December 31, 2020, of which 98% is oil. Our operations are focused in two key operating areas: the Gulf Coast and Rocky Mountain regions. The Company is differentiated by its focus on CO2 EOR and the emerging CCUS industry, supported by the Company’s CO2 EOR technical and operational expertise and its extensive CO2 pipeline infrastructure. The utilization of captured industrial-sourced CO2 in EOR significantly reduces the carbon footprint of the oil that Denbury produces, underpinning the Company’s goal to fully offset its Scope 1, 2, and 3 CO2 emissions within the decade.

As part of our corporate strategy, we are committed to creating long-term value for our shareholders through the following key principles:

  • target specific regions where we either have, or believe we can create, a competitive advantage as a result of our ownership or use of CO2 reserves, oil fields and CO2 infrastructure;
  • increase the value of our assets through applying our technical expertise in CO2 tertiary recovery together with a combination of other exploration, development, exploitation and marketing skills and practices;
  • seek to expand the use of industrial-sourced CO2 in our tertiary recovery operations, with an ultimate objective of producing oil with a negative carbon footprint;
  • leverage our extensive CO2 pipeline assets and CO2 EOR expertise to expand our operations and leadership position in the emerging CCUS industry;
  • acquire properties that give us a majority working interest and operational control or where we believe we can ultimately obtain it;
  • maximize the value and cash flow generated from our operations by increasing production and reserves while controlling costs;
  • optimize the timing and allocation of capital among our investment opportunities to maximize the rates of return on our investments;
  • exercise financial discipline and maintain a strong balance sheet; and
  • attract and maintain a highly competitive team of experienced and incentivized personnel.

As of December 31, 2020, we had 657 employees, of whom 365 were employed in our field operations or at our field offices and 292 were employed at our headquarters in Plano, TX.

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