Denbury is leading the way in solving this problem by reducing atmospheric carbon dioxide (“CO2”) emissions through Carbon Capture, Utilization, and Storage (“CCUS”), and Enhanced Oil Recovery (“EOR”). In 2022, Denbury is injecting over four million tons of captured industrial-sourced CO2 annually, and producing approximately 47, 500 barrels of oil equivalent per day, 97% of which is oil. Our EOR solutions are able to increase oil recovery by 10% to 20% of the original oil in place. With more than 20 years of experience in safely transporting, injecting and monitoring large-scale volumes of CO2, and over 1,300 miles of CO2 pipeline, Denbury is a world-leading carbon solutions provider.
Denbury is expanding its EOR operations by developing the world-class Cedar Creek Anticline (“CCA”) field, which is the largest EOR resource the company has ever developed. New production from CCA is planned for the second half of 2023. In addition, the Company is securing direct sequestration sites for the future storage of industrial-sourced CO2 not associated with oil production. CCA and CCUS provide massive future growth potential for Denbury.
Denbury’s disciplined approach and financial strength position the Company for continued success. We are good stewards of our investors’ trust and work to enhance shareholder value with a measured and returns-focused strategy.
Proved oil and gas reserves as of YE21
Estimated 2022 production
Quarterly operating cash flows as of 2Q 22
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Denbury’s operations include traditional oil and gas production, Enhanced Oil Recovery (“EOR”) and Carbon Capture, Utilization, and Storage (“CCUS”). Denbury Carbon Solutions focuses on capturing, transporting and storing or recycling CO2 from industrial sources. Our oil producing assets and our robust CO2 network are strategically located in the Gulf Coast and Rocky Mountain regions.
We are committed to responsibly meeting the world’s energy needs, while making a positive impact on our society, the environment and the world around us. Our sustainability efforts focus on environmental, social and governance performance.