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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT ON
Form 8-K
filed July 24, 2001
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): July 24, 2001
DENBURY RESOURCES INC.
(Exact name of Registrant as specified in its charter)
DELAWARE
(State or other jurisdiction
of incorporation or organization)
1-12935 75-2815171
(Commission File Number) (I.R.S. Employer
Identification No.)
5100 TENNYSON PARKWAY
SUITE 3000
PLANO, TEXAS 75024
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (972) 673-2000
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ITEM 5. OTHER EVENTS.
On July 24, 2001, the Company issued the press release attached hereto as
Exhibit 99.1 announcing the Company's private offering of $75,000,000 of senior
subordinated notes.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits:
99.1 Company press release dated July 24, 2001 titled "Denbury
Resources Announces Private Offering of $75,000,000 of Senior
Subordinated Notes."
ITEM 9. REGULATION FD DISCLOSURE.
Preliminary Second Quarter Results
The Company is scheduled to release its earnings for the second quarter of 2001
on August 2, 2001. As of the date hereof, although these results were not yet
available, the Company does not expect results for the second quarter to vary
significantly from our current forecasts. The Company's forecast for average
daily production for the quarter is approximately 28,000 BOE/d. The Company's
forecast for lease operating expenses is approximately $5.25 per BOE, excluding
taxes, and the Company expects production taxes for the second quarter to be
down slightly from the first quarter expense of $1.09 per BOE to approximately
$1.05 per BOE. The Company's second quarter forecasted depletion, depreciation
and amortization expense is approximately $5.15 per BOE and general and
administrative expense is approximately $1.10 per BOE. The Company expects that
its oil production during the second quarter was sold at an average discount to
NYMEX oil prices of approximately $4.50 to $5.00 per Bbl and its natural gas
production was sold at an average premium to NYMEX natural gas prices of 2% to
4%. The Company expects that the effect of generally lower prices for oil and
natural gas in the second quarter as compared to the first quarter of 2001 will
have a negative effect on quarter-to-quarter earnings and cash flow, offset to
some degree by increases in production quantities.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
DENBURY RESOURCES INC.
(Registrant)
Date: July 24, 2001 By: /s/ PHIL RYKHOEK
---------------------------------
Phil Rykhoek
Chief Financial Officer
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EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
- ------- -----------
99.1 Company press release dated July 24, 2001 titled "Denbury
Resources Announces Private Offering of $75,000,000 of
Senior Subordinated Notes."