The men hired in within the last 10 months need to go. They do not bring with them experience to see progress.
They sit in their office and make the big pay check. It is dumb founded how seasoned experienced proven longevity was let go to bring in a coat tail riding employee who has ran from companies he has taken advantage of and is now a Denbury employee. Still confused!
The new COO is fine, but the others need to go.
Because you have no leadership and those in charge have no clue about the oil industry.
Come on in waters fine!
$60 to "survive" is a non-cash number. It includes complicated financial terms that don't actually affect cashflow. You actually only need around $30 to survive on a cashflow basis. Though, below $40 for any extended period of time, much more painful reductions would have to be made. In the current price environment, Denbury is making plenty of money to stay afloat. If Phil can continue to swap the purchased stock shares for the debt, this only gets better. Denbury will struggle in 3-5 years if oil stays under $60 and no new reserves can be developed in order to justify the refinancing of any remaining debt when maturity dates start to hit.