Denbury Resources Inc. (NYSE:DNR) Q2 2019 Earnings Conference Call - Final Transcript

Aug 07, 2019 • 11:00 am ET


Denbury Resources Inc. (NYSE:DNR) Q2 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by. Welcome to the Denbury Resources Second Quarter 2019 Results Conference Call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session. [Operator Instructions] As a reminder this conference is being recorded.

And I would now like to turn the conference over to our host Director of Investor Relations, Mr. John Mayer, please go ahead.

John Mayer

Thank you, Jeff. Good morning, everyone, and thank you for joining us today. With me on the call are Chris Kendall, our President and Chief Executive officer; Mark Allen, our Executive Vice President and Chief Financial officer; Matthew Dahan, our Senior Vice President of Business Development and Technology; and David Sheppard our Senior Vice President of Operations.

Before we begin, I want to point out that we have slides which will accompany today's discussion. If you encounter any issues with slides advancing during the webcast portion of the presentation please refresh your browser. For those of you that are not accessing the call via the webcast, these slides may be found on our homepage at by clicking on the Quarterly Earnings Center link under Resources.

I would also like to remind you that today's call will include forward-looking statements that are based on the best and most reasonable information we have today. There are numerous factors that could cause actual results to differ materially from what is discussed on today's call. You can read our full disclosure on forwarding-looking statements and the risk factors associated with our business in the slides accompanying today's presentation, our most recent SEC filings and today's news release, all of which are posted on our website at Also, please note that during the course of today's call, we will reference certain non-GAAP measures. Reconciliation and disclosure relative to these measures are provided in today's news release as well as on our website.

With that, I will turn the call over to Chris.

Chris Kendall

Thanks, John, and thanks to all of you for joining us today. I'm pleased to announce that Denbury's second quarter of 2019 was truly outstanding. The team and I are looking forward to sharing details with you this morning, but before we do I'd first like to talk a bit about the current macro environment. Specifically, I'd like to review how Denbury's strategy, assets and expertise align to counter many of the challenges facing the energy industry today.

When I step back and think about those challenges, I see two key themes emerging. The first centers on how energy companies will meet clear investor demands to operate sustainable businesses that can return capital to shareholders. The second involves the industry's ability to consistently provide a significant portion of the world's energy in a manner that addresses increasing environmental concerns around the production of fossil fuels.

I can say with confidence that Denbury is ideally placed to meet these challenges. The company is in a strong position to meet shareholder demands for return of