DNR-trading the double bottom.

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Fundamental information:
Denbury Resources surges higher as Q4 earnings beat estimates

Feb 19 2015, 15:58 ET | About: Denbury Resources Inc. ( DNR             )

Denbury Resources ( DNR             +4.7%) powers through early losses and is now sporting strong gains after Q4 earnings beat estimates and reaffirming that it will cut capital spending by 50% in 2015 while keeping dividend rates steady.
Despite current challenges, DNR             highlighted some positives in its earnings call, including a 7% increase in 2014 production from enhanced oil             recovery - which involves injecting carbon dioxide to pressurize mature oil             fields - to more than 41K bbl/day, a new record.
Total Q4 oil             production averaged nearly 75K boe/day, up 5% Y/Y; cost per boe has been reduced to $22.64, down 14% Y/Y - an important result because producing oil             using EOR can increase costs as much as $20-$30/bbl just for the carbon dioxide alone.
Production guidance for 2015 is 72.5K-75.5K boe/day, with capital spending of ~$550M.

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