Investor Acquires 25% of Repsol for $4.8 Billion

Denbury Doubles CCUS Capital for 2023

Catch Denbury Inc.'s Q4'22 earnings call? Here's a quick summary of the opening statements, generated with AI summarization.

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Chris Kendall, President and CEO, is optimistic about Denbury's position in 2023, given the US policy support for carbon capture utilization and storage (CCUS) and the growing demand for energy. Denbury's carbon dioxide infrastructure, expertise, and use of industrial-sourced CO2 will allow the company to play a significant role in reducing carbon emissions while also providing a low-carbon intensity energy source. The company exceeded its CCUS goals for 2022 and doubled its CCUS capital to achieve high growth in the industry. Oil remains a vital part of the global energy mix, and Denbury's blue oil produced through enhanced oil recovery (EOR) using industrial-sourced CO2 has the lowest carbon intensity oil produced to date. Mark Allen, CFO, presents the financial results for 2022, and the company has a strong balance sheet with $711 million in financial liquidity at the end of the year. The company's capital allocation priorities are to maintain the strength of their base oil operations and focus on modest oil growth over the mid-term through investments in their CO2 EOR-focused oil business.

The full transcript is available at Decarbonfuse.

Inside this Issue

🦺 EPC Consortium of Mitsubishi Power, TIC and Sargent & Lundy to Build Entergy Texas’ New, Cleaner and More Reliable Power Station
💸 EIG Completes Acquisition of 25% of Repsol’s Entire Global Upstream Business
✅ Watershed to Accelerate Climate Action for Enterprises in Partnership with Google Cloud
🎙 Denbury Resources (NYSE:DEN) Q4'22 Earnings Call Transcript