Denbury jumps 12% on report of sales process

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• Denbury Inc. (NYSE:DEN) soared 12% on a report that its exploring options, including a sale of the independent oil company.
• The company is working with an adviser as it considers a sale, according to a Bloomberg report. Denbury (DEN) has a marker cap of $3.9 billion.
• A potential sale comes after Denbury (DEN) emerged from Chapter 11 bankruptcy in September 2020. Denbury fired for bankruptcy earlier that year. one of several oil and gas firms forced to restructure in the wake of weak prices and diminished demand.
• A Denbury sale would follow Devon Energy's(DVN) agreement to buy Eagle Ford oil producer Validus in a $1.8B deal last Tuesday.
• Denbury (DEN) short interest is 11%.
• Denbury earlier this month reported Q2 non-GAAP EPS of $1.69 in-line, revenue of $482.16M.