Denbury Resources Inc. (DNR) News
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Latest DNR News From Around the Web
Below are the latest news stories about Denbury Resources Inc that investors may wish to consider to help them evaluate DNR as an investment opportunity.
Denbury Resources: Common Shares Are Worth Close To ZeroDenbury Resources (DNR) is filing for bankruptcy and shareholders are expected to get warrants according to the Restructuring Support Agreement. The value of the warrants appears to be under a penny per current Denbury share. Thus, the main hope for common shareholders is that there is some sort of trading-related... |
California Pizza Kitchen files for bankruptcy, plans exit in less than 3 monthsCalifornia Pizza Kitchen said Thursday that it has filed for bankruptcy, as the restaurant chain looks to close unprofitable locations and reduce its long-term debt load, and emerge from bankruptcy in under three months. The company said it has entered into a restructuring support agreement with lenders to equitize the vast majority of its long-term debt. The agreement includes contemplating $46.8 million in debtor-in-possession financing, which will allow the company's restaurants to continue operating, and for the continued payments to vendors and employees. "The unprecedented impact of COVID-19 on our operations certainly created additional challenges, but this agreement from our lenders demonstrates their commitment to CPK's viability as an ongoing business," said ... |
Park National Set to Join S&P SmallCap 600Park National Corp. (NYSE American:PRK) will replace Denbury Resources Inc. (NYSE:DNR) in the S&P; SmallCap 600 effective prior to the opening of trading on Monday, August 3. Denbury Resources is filing for bankruptcy protection and is ineligible for continued inclusion the in S&P; SmallCap 600. |
Oil Edges Up After U.S. Crude Supplies Shrink Most This Year(Bloomberg) -- Oil was propped up by the biggest decline in U.S. crude inventories this year, signaling a bright spot in a market weakened by Covid-19.Domestic oil inventories tumbled by more than 10 million barrels last week, the biggest decline since December, according to an Energy Information Administration report. Oil imports declined, with shipments from Saudi Arabia falling to the lowest since April. Futures closed higher by less than 1% on Wednesday.Keeping prices from staging a stronger rally is a growing glut in gasoline and distillate supplies, suggesting demand is far from normal during the summer driving season. The pandemic has continued to take a toll on the U.S.: California and Florida posted a record number of daily virus-linked deaths.“It seems as if the response to a ... |
Trending Market News Wednesday: Facebook, Denbury, L BrandsFacebook is taking the European Commission to court over a document request that the company says invades its privacy. |
UPDATE: Denbury Resources to file for Chapter 11 with plan to eliminate $2.1 billion of bond debtDenbury Resources Inc. said Wednesday it has reached a pre-packaged restructuring plan with its creditors that will enable it to eliminate $2.1 billion of bond debt. The Plano,Tx.-based oil and natural gas company will file for Chapter 11 protection on Thursday. The company said it has an agreement with debtholders that own 100% of revolving credit facility loans, about 67.2% of second lien notes and about 70.8% of convertible bonds. The company expects to operate as normal during the Chapter 11 process and has a debtor-in-possession revolving loan that will roll into an exit facility of up to $615 million. "Recently our entire industry has been highly impacted by the global oil demand destruction caused by the COVID-19 pandemic, driving record low oil prices and rapid changes in ... |
Denbury Resources (DNR) Expected to Beat Earnings Estimates: Should You Buy?Denbury Resources (DNR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations. |
Denbury Resources to File for BankruptcyDenbury Resources (NYSE: DNR) has agreed to a restructuring support agreement with the majority of its creditors to eliminate $2.1 billion of the company's bond debt. As a result, Denbury plans to file for Chapter 11 bankruptcy later this week to implement this pre-packaged plan. In addition to eliminating much of its legacy debt, Denbury's existing lenders will provide the company with up to $615 million of debtor-in-possession financing. |
Latest Casualty of Shale's Collapse Is Oil Driller Denbury(Bloomberg) -- Denbury Resources Inc. became the latest debt-laden oil producer to say it will seek bankruptcy and hand ownership to lenders in the aftermath of a pandemic-fueled plunge in crude prices.The Plano, Texas-based driller said it will file a Chapter 11 petition in U.S. Bankruptcy Court in the Southern District of Texas by July 30, with support from its creditors and bankruptcy financing in place. It joins a long list of other oil and gas producers that have been forced to seek protection in recent months. The most well-known of those names, Chesapeake Energy Corp., filed for court protection in June.Denbury cut a deal with holders of its revolving credit facility, second-lien and convertible notes to slash $2.1 billion of bond debt, according to a company statement. Under the... |
Denbury Resources to File Prepackaged Bankruptcy PlanDenbury Resources, like many others in the oil and gas patch, has been decimated by the drop in oil and gas prices during the pandemic. |