Denbury Inc. (NYSE:DEN) Q3 2022 Earnings Conference Call November 3, 2022 12:00 PM ET

Company Participants

Brad Whitmarsh - Head of Investor Relations

Chris Kendall - President & Chief Executive Officer

Mark Allen - Executive Vice President & Chief Financial Officer

David Sheppard - Chief Operating Officer

Nik Wood - Senior Vice President-Carbon Solutions

Matt Dahan - Senior Vice President-Business Development & Technology

Conference Call Participants

Tim Rezvan - KeyBanc Capital Markets

Nate Pendleton - Stifel

Charles Meade - Johnson Rice

Brian Velie - Capital One

Sam Burwell - Jefferies

Clay DeMarcus - Bank of America

Jacob Roberts - TPH

Operator

Good day ladies and gentlemen and welcome to Denbury's Third Quarter 2022 Results Conference Call. My name is Glenn and I will be your moderator for today's call. [Operator Instructions] I would now like to turn the conference call over to your host for today's call Brad Whitmarsh Head of Investor Relations. Please proceed sir.

Brad Whitmarsh

Good morning, everyone and thank you for joining us today. Over the last week we've issued three news releases: two announcing significant CCUS agreements and this morning our Q3 earnings release. I hope you've had a chance to review them all in the supporting earnings materials that are available on our website at denbury.com. Results for the third quarter were very strong as we generated strong cash flow again above expectations.

I want to remind everyone that today's call will include forward-looking statements that are based on our best and most reasonable information. There are numerous factors that could cause actual results to differ materially from what is discussed on today's call. You can read our full disclosures on forward-looking statements and the risk factors associated with our business in the slides accompanying today's presentation our most recent SEC filings and today's news release.

Also please note that during the course of today's call we may reference certain non-GAAP measures. Reconciliation and disclosure relative to these measures is provided in today's earnings release as well. This morning our prepared comments will come from Chris Kendall, President and CEO; Mark Allen, CFO; David Sheppard, COO; Nik Wood, SVP of Carbon Solutions; and Matt Dahan SVP of Business Development and Technology are all here to participate in the Q&A.

With that I'll turn the call over to Chris.

Chris Kendall

Thanks Brad and good morning. It's hard to believe we are already in November and closing in on the end of 2022. As we begin the year I mentioned that I believe this would be a transformational year for Denbury. And looking back now I may have underestimated just how impactful 2022 could be. This morning I'll begin with a brief overview of the quarter and our outlook for the remainder of the year then I'll touch on some business highlights and we'll finish by opening the call for questions.