Extract
Denbury Resources Announces First Quarter Results.
DALLAS -- Denbury Resources Inc. (NYSE: DNR) ("Denbury" or the "Company") today announced its first quarter 2008 financial and operating results. The Company posted quarterly earnings for the first quarter of 2008 of $73.0 million, or $0.30 per basic common share, 339% higher than first quarter 2007 net income of $16.6 million, or $0.07 per basic common share. The higher net income in the 2008 period was attributable to higher oil prices and higher production levels, partially offset by a $38.7 million ($24.4 million after tax) non-cash fair value charge on the Company's derivative contracts, incremental net cash payments on the same and higher overall expenses. Included in the first quarter of 2007 was a non-cash fair value charge of appr...
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