Energy Prospectus

Denbury Resources (DNR): The company announced that they are increasing their share repurchase plan. An updated Net Income & Cash Flow Forecast model has been posted under the Watch List Tab.

My Fair Value Estimate has increased to $29.25.

New hedges on 80% of their crude oil production SIGNIFICANTLY reduces the risk on DNR.

Lots of "Growth & Income" fund manager will be taking a hard look at DNR this year. I think they will like the rock solid growth and long-term domestic oil reserves.

January 3, 2014
Denbury Resources announced that its Board of Directors has approved an increase of $250M to the company's authorized share repurchase program, leaving $422M of authorized repurchases remaining as of December 31, 2013. The increase raises the total amount authorized under the program since it commenced in October 2011 to $1.16B, of which Denbury has spent $740M as of December 31, 2013, to acquire a total of approximately 48M common shares, or about 12% of shares outstanding at September 30, 2011, at an average cost of $15.55 per share. There is no set expiration date for the program and no requirement that the entire authorized amount be used.