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According to my forecast model, if WTI stays over $100/bbl, DNR should be generating a lot of free cash flow next year. Since Denbury sells most of their oil into the Gulf Coast market, they get near Brent pricing already. Brent was trading at over $110/bbl all last week.
DNR = Free Cash Flow
DNR = Free Cash Flow
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group