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Thursday, November 05, 2009
Denbury Resources Production Rises 10%
By Steve Gelsi
MarketWatch Pulse
NEW YORK -- Denbury Resources said Thursday its third-quarter net income fell to $26.9 million, or 11 cents a share, from $157.5 million, or 64 cents a share in the year-ago period. The oil and gas producer said adjusted net income for the quarter totaled 16 cents a share. Revenue fell 45% to $227.2 million. Analysts expected earnings of 17 cents a share, according to a survey by FactSet Research. Oil and natural gas production averaged 42,659 barrels of oil equivalent a day, up 10%.
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