UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 11, 2006
DENBURY RESOURCES INC.
(Exact name of Registrant as specified in its charter)
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Delaware |
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(State or other jurisdiction of incorporation or organization) |
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1-12935 |
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20-0467835 |
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(Commission File Number)
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(I.R.S. Employer Identification No.) |
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5100 Tennyson Parkway Suite 1200, Plano, Texas |
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75024 |
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(Address of principal executive offices) |
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(Zip code) |
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Registrant’s telephone number, including area code: |
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(972) 673-2000 |
_____________________N/A______________________
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 8 – Other Events
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Item 8.01. |
Other Events. |
This week the Company has entered into natural gas derivative swaps for 2007 designed to mitigate a portion of the price volatility risk associated with its forecasted 2007 natural gas production. Denbury has swapped in a forward sale, on an initial no-cash-cost basis, a total of 75 MMcf/day of natural gas for the calendar year at prices ranging from $7.95 to $7.99 per MMBtu. This represents approximately 90% of the Company’s currently forecasted natural gas production for 2007. The value of these derivative contracts will be marked -to-market at the end of each fiscal quarter as the Company does not use hedge accounting to record its derivative contracts
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Denbury Resources Inc.
(Registrant)
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Date: December 15, 2006 |
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/s/ Phil Rykhoek |
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Phil Rykhoek, Senior Vice President & | |||
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Chief Financial Officer |
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