Denbury Resources restores 90% of production impacted by Harvey
Denbury Resources has restarted production over the last several days at five of its six fields impacted by Tropical Storm Harvey. As of today, the company estimates that approximately 90% of the 16,000 barrels of oil equivalent per day of net production shut-in as of August 27 has been returned to production, and the company has not identified any significant damage at these impacted fields. The only field that remains shut-in is Thompson Field, which had net production just prior to the storm of approximately 1,000 BOE per day. Production at Thompson Field is expected to return to full capacity over the next eight weeks, as flooding in that area subsides and personnel are able to access the field. The company does not expect any insurance recovery related to the storm. The impact of Tropical Storm Harvey on Q3 production is estimated to be 2,000-2,200 BOE per day, and full-year production is still expected to be within our previously updated guidance of 60,000-62,000 BOE per day.