Where Will Denbury Resources Be in 5 Years?
In April, energy player Denbury Resources (NYSE: DNR) had to go back to the drawing board, reworking its plans for the future after a deal to merge with Penn Virginia (NASDAQ: PVAC) collapsed. Denbury was more than capable of dealing with the hit, but it materially changed the company's near-term and long-term plans. Here's what management is thinking about now as it looks out five years.
Denbury's focus is on injecting carbon dioxide into the group to enhance the output of oil wells. It's an older technique that works well with traditional oil wells. Penn Virginia was focused on fracking, which involves pumping water, sand, and chemicals into a well to break rock up and free oil. They are very different ways to extract this vital energy source from the ground.
Image source: Getty Images.
Source Fool.com
