A negative reversal in its derivatives fortunes sent Q3 net profit crashing 70% at Denbury...

|About: Denbury Resources Inc. (DNR)|By:, SA News Editor

A negative reversal in its derivatives fortunes sent Q3 net profit crashing 70% at Denbury Resources (DNR -1.8%), but full-year production looks to be on track to hit the higher end of previous forecasts thanks to a ramp-up in Bakken numbers. Average production grew 9% Y/Y to 72,776 boe/day, but sales prices, excluding hedging impacts, fell 4% for oil and 38% for natural gas.