Denbury Resources Inc. (NYSE: DNR) (“Denbury” or the “Company”) today announced that Tracy Evans has resigned from his position as President and Chief Operating Officer. Mr. Evans began his career with Denbury in September 1999 and became President and Chief Operating Officer in June 2009.
Phil Rykhoek, CEO of Denbury, said, “Tracy has made a significant contribution to the strategy and growth of Denbury for more than a decade and the Board and I would like to sincerely thank him for this valuable service. We wish him the best in the future and also appreciate his willingness to remain available to us as a technical consultant for the next several years.”
Tracy Evans said, “In the past 12 years, I have been fortunate to work with a great group of people and together we have been successful at transforming Denbury into the world’s leading CO 2 enhanced oil recovery company. There are many great days ahead for Denbury; nonetheless for me, it is time to pursue other opportunities and challenges. I appreciate the opportunity to come to Denbury and the support of all the employees and Board of Directors during my tenure.”
The Company does not plan to immediately name another Chief Operating Officer. The operational aspects of the Company will continue to be managed by the Company’s two operations Senior Vice Presidents, Robert Cornelius, Sr. Vice President of CO 2 Operations, and Craig McPherson, Sr. Vice President of Production Operations, with overall oversight responsibility to be assumed by Mr. Rykhoek, CEO of Denbury, who will also assume the title of President of the Company.About Denbury Denbury Resources Inc. ( www.denbury.com) is a growing independent oil and natural gas company. The Company is the largest oil and natural gas operator in both Mississippi and Montana, owns the largest reserves of CO 2 used for tertiary oil recovery east of the Mississippi River, and holds significant operating acreage in the Rockies and Gulf Coast regions. The Company's goal is to increase the value of acquired properties through a combination of exploitation, drilling and proven engineering extraction practices, with its most significant emphasis relating to tertiary recovery operations.