Denbury Resources Inc said it will sell certain non-operated oil and gas assets in Utah for about $75 million, which will hurt its full-year production outlook by about 650 barrels of oil equivalent per day.Proved reserves related to the assets in the Paradox Basin, which were sold to Resolute Energy Corp and Navajo Nation Oil and Gas Co, were about 6.4 million barrels of oil equivalent as of Dec. 31.The sale, along with the divestment of assets in Gulf Coast in February, will reduce Denbury's full-year production outlook by about 1,625 boe/d, it said in a statement on Wednesday.Texas-based Denbury had said it expected to produce 70,250 - 75,250 boe/d in 2012.
Denbury Resources Inc. is an independent oil and natural gas company. Shares of DNR fell by 0.06% or $-0.01/share to $17.79. In the past year, the shares have traded as low as $10.20 and as high as $23.54. On average, 5545520 shares of DNR exchange hands on a given day and today's volume is recorded at 845767.
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